I found that i have a charge off from a credit card from 1997 and it has been sold to different companies on my report. From what i can tell it was sold couple of times and on those accounts they are stated as open in 2005. What can i do about this? There are several other accounts that i see that have been sold as well, however those accounts are not as far back as this one from 1997. How would i dispute this 1997 charge off card? I know it is way over the sol in texas. please help. Thanks in advance.
Is the original 1997 charge-off by the OC off your reports? Was it gone in 2004? How is the CA listed with the 2005 "opened" entry? (use "XXX" for any amount listed anywhere.)
On the report it states the collection activity on the account and has a listed reference of the 1997 debt. It states it was a sold account. My questions is why would this debt still show up at all, is it because they sold the debt to collections. Im confused. I thought since its sol was up it would not show at all? It shows activity in 2005,im guess that is when it was sold to this company im not sure.
If you had a cc that was charged-off in 1997, the *original* cc should no longer be on your report at this time. It's past the 7-year reporting period and it should have been "fallen off". It should be gone. It's obsolete. There should be no listing of the original account. It'd be helpful if you could list the account info, as you see it on the reports. Negative reporting history can be reported for 7-years, *but* you never "applied" for credit or "opened" an account with this CA in 2005 on this obsolete debt. Generally speaking, if you had an cc account that was charged-off in 1997 the key date for calculating the 7-year reporting period is the DOLA. So this account listing should have been off your report. I can think of a few possible violations with this CA listing, but there may be even more on the report.
Write the CRA's and tell them that is account is past the 7 year reporting period. If everyone is doing their job and on the up and up, it should drop off with no more effort on your part. If the CA verifies it, then you send them a strongly worded letter that you will sue their pants off for lying since you have proof that it is past the 7 year mark and that they verified it with the CRAs. I had to do that with Arrow and the CA they had sold it to, and that sucker fell right off.
