I had a First USA Mastercard with someone else and it became delinquent in 1992. The account was subsequently paid off in the cosignor's Chapter 13 bankruptcy. Experian is listing the discharge date of the bankruptcy (1999), as the date to figure the 7 year cutoff. Shouldn't I be able to have all notations of this account removed since the original delinquency is from 1992? I did not have a bankruptcy myself.
when you say paid off i assume you mean you paid off all or some of the balance over time which was well past the bankruptcy discharge date if this is the date the last date of activity posted to the account (the last payment made) is when the meter starts ticking however in this case it might not be a full 10 years. if you paid the account of at the time of discharge than that is the date AND the fact that you didnt claim the chap 13 dont matter but according to what you say your credit report is not that bad
The account was paid off prior to the discharge of the bankruptcy. In any event, it is reported as transferred and closed with a balance of 0. What does the date of the last activity have to do with anything? Everyone says the clock starts from the 6 months after the date of delinquency, it doesn't matter when you make payments?? Making a payment should not reset the clock. Nothing resets the clock? Or so I thought from reading the FCRA. grilloal wrote: ------------------------------- when you say paid off i assume you mean you paid off all or some of the balance over time which was well past the bankruptcy discharge date if this is the date the last date of activity posted to the account (the last payment made) is when the meter starts ticking however in this case it might not be a full 10 years. if you paid the account of at the time of discharge than that is the date AND the fact that you didnt claim the chap 13 dont matter but according to what you say your credit report is not that bad
grilloal makes no sense. The clock starts seven years (+180 days if after Dec 97) from either (a) the date of original delinquency or (b) the date of charge-off. The date of original delinquency is the date on which the first payment was missed that caused the account to become delinquent AND never again did the account become current. A charge off usually happens about 6 months after the original delinquency date. But you're confusing me. You said: >> The account was subsequently paid off in >> the cosignor's Chapter 13 bankruptcy. You claim that the account was "paid off" prior to discharge. Do you mean that you paid it off on your own, or it was paid off through the CH13 payments, or what? If it was SATISFIED (not 'paid off', because that would mean 100% in full) through the Chapter 13 payments, then you'll use the charge-off date as the "clock date". The account became delinquent in 1992. When was it charged off? Late 1992? Early 1993? Late 1993? Whenever it was charged off is your seven year starting date for reporting to the CRA's. If mid or late 1993, then it should come off in mid or late 2000. Note: If this was a JOINT account, and only ONE person filed BK, that didn't relinquish liability from the OTHER person (you). BUT - If they did not obtain a a judgement against you, then you don't have to worry. The SOL has more than likely run out after 6+ years. If they did, then they CAN legally attempt collection.
Thanks for your 'correct' reply! It was paid off with the chap 13 payments. And, no, they did not sue me. It WILL BE off my report. Of the 3 bureaus, only Experian had it listed. Experian seems to like reporting things with false dates, and then takes it off without a hassle when you complain.
