I called Old National Bank in Indiana today to inquire about a charge-off on my credit report. They claim that it is an outstanding balance on a card I had back in 1995 through a bank that Old National aquired back in 1998. The woman I spoke to said that during the aquisition, all 60+ day late credit card accounts were all merged into a loan portfolio. She went on to say that the only record they have in an account balance in their system. She said I would have to call the original bank to see if they still had the original application and account statements. I am going to send them a validation letter and see what happens. Mike
if the first date of delinquency is sometime in 1995 the 7 year reporting clock is on or at expiration... if they come across the info and find out they've reported for over 7 years... they're screwed. likely they can't come up with anything anyway. DO NOT PAY A DIME or agree to pay a dime. If they can come up with something, see if the sol has expired for suing you (likely it has unless you live in an OHIO or some other creiditor friendly state)... if they've both passed, the item will come off and can't bug you anymore... If it gets sold and reaged and rereported, you can sue the offending ca... so at this point, they can only make errors that will help you...
