I was reading my credit report with a fine tooth comb and I came across something that made no sense. One account is reporting 29 times 90 days late. I did the math calulation and came up with 2610 days which is roughly 7years and 3 months. The account was opened in 1993 . Do you think that an item that been 90 days late 29 times consecutively, should still be reported? Thanks Cyprigirl
You stated you opened the account in 1993. When was the account closed? If it has been less than 7 years since the account was closed, then yes, it should still be reported. But if it has been more than 7 years since you closed the account, then it should not be reported and I would dispute it.
does it really matter whether it is closed or not. It is closed but if they are claiming the account has been delinquent for seven years how can this item still be reported? I just don't understand it. Cypri
The first delinquency was 7 years ago. The next was 6 years 11 months ago, the 24th was 5 years ago. That is why it is still showing. I would still dispute it. When was the account closed and what is the date of the last late?
Ok LKH, Maybe I am reading it wrong. But each time wouldn't it be 90 days, then the next 90 late and so on. These are not separate 90 day increments, its reading as 90 days consecutively I will dispute it but if its been reporting like this all these years then it should have been removed automatically. I don't know, this one has me confused Cypri
Do you mind saying what account it is. I have a Victorias Secret account that they reported me 30 days delinquent when I was 1 day late. When I argued it they insisted that as soon as your 1-29 days late you are considered 30 days, 30-59 is 60 days & 60- ** days you are 90 days late. So according to them, you really only have to be 2 months late to be considered 90 days delinquent. That accounting their reporting still doesn't make sense though. Sounds like every 90 days they are resetting the clock. I don't see how they can do that unless every 60-90 days, you make a payment and then don't pay again for another 60-90 days and do that consecutively for 7+ years. Makes no sense at all to me.
Maer: Its with Sears. This my last item that I am really worried about on my file and now I realized that they have been reporting this wrong. Date of last activity is supposedly 10/98, so can someone please explain how an item can be 29 times 90 days late in a 3 year time period. It definitely makes no sense. Cypri
Actually, it's pretty easy. You can get a 90 day late every month if you really try, LOL. If you are 90 days late, and make one payment it will bring you to 60 days past due, then you will be 90 days late again in another month.
If the date of last activity is 10/98 it will stay on your report until 10/05. At this point, it is reporting everything going back 7 years from today, which would make it 07/94. That is how it is reporting 90 days late however many times. But, at some point it should have been charged off. I doubt very seriously that they would let it go 90 days 29 months in a row before they charged it off. Why don't you call them and ask when they charged it off. Then you can probably assume that the date of last activity was probably 90-120 days prior to that date. Then you can dispute it with valid reasons.
ok but on the rest of their comments they indicate 5 times 30 days late and 6 times 60 days late and then 29 times 90 days lates, that seems odd and no I did not pay them and let it go 90 days late again. The last payment was in 1995 when I got into financial difficulty. I don't understand how each month you can be 90 days late. I really still do not understanding it but I will contact them and find out the date of last activity. They are still reporting it as R5 on my credit file and there is a zero balance but its been transferred to a collection account. Do you think the collection agency is trying to reage it and that is why it says 10/98 as the last date of activity? Thanks for te comments, guys Cypri
If your last payment was in 95, then that is the date of last activity. It appears that they may be reaging it. The account could have shown 30-60-90-120 days late etc. They probably just quit counting at 90 and left it at that.
I am going to dispute it with the CRA and send another validation notice to Collection agency. I made the maistake of calling them once and they were soo rude, I had even contemplated paying and going to set up a payment plan and they were just nasty. If they are trying to reage the accounts, I will definitely going after them for FDCPA violations. It seems that SOL have run because SOL in Florida is 4 years for open ended contracts. Cypri
