I have a credit card charge-off that I was sure was would be deleted by now. It hasn't and I just realized why. I opened the account in 3/95. It was a secured account. I knew nothing about credit cards and secured accounts back then. I thought they would take my payment from the deposit if I didn't pay (real stupid). So I never paid. This means the delinquency that lead to the charge-off is the 04/95 bill. The account should then fall off CR in 04/2002. However, according to my CR the account was charged-off in 06/95 and account will remain until 06/2002. I was so stupid back then. They not only took my $500 deposit and applied it toward the charge-off, they also reported I still owe $300. Well my limit was only $500! How can fees total $300 within a 2 month period? I distinctly remember using the card minimally. I have disputed three times one time each as not mine, wrong dates, and incorrect balance. Does anyone have any ideas how I can get this deleted now?
it doesn't fall off until 6/02, the last activity date, because it is not subject to the 1996 FCRA. I would just leave it alone... you only have a couple of months left... why bother?
Have you tried the validation to original creditor?? they may just remove it since it is so old anyway, but again, this might take some time. OR dispute this as "this account is outdated and should have expired off my report. Please remove." Have you tried this?
Killer, I had a account like this with key bank. I disputed it as "secured credit card - paid off by security deposit when I closed account. Not charged off" Then I also disputed it with key bank, I sent a validation letter (I know original creditors don't have to validate but I don't think half of them know it) it came off all three reports within a few weeks. Candi
Thanks to all. I'll try disputing one more time. If it doesn't work, I'll have to change my plans.. I really need clean credit in the next month or so.
dispute it, the cras sometimes take things between 3 to 6 months before they expire. I was told that from an inside source that they usually do this to prevent claims of liability, because they are strictly liable if you find outdated info on your credit report, that is an automatic violation and a $1000 for the consumer. Give it a try!
It's falling off in less than 3 months. I think it's a dumb move to screw around with it now. The only thing that can happen is the creditor can try to re-age it when the CRA contatcs them. Then, you have to fight with them over it. If you wait until 6/2002 to dispute it, the CRA likely won't even contact the creditor and it's a non-issue.
