I have been dealing with a re-age issue with one of my old Amex accounts that recently reaged just pushed the 7 year clock even more further. I have credit reports (from Experian, Equifax & Transunion) dating back to year 2000 showing the same a/c that was scheduled to continue on the record till 06/2003. Now I have latest reports that show that same amex a/c which they have changed the account number on but has the same open date and the balanance to be scheduled to continue reporting till 8/2004. Below is sample of what it used to look like and what it looks like now: Previous report --------------- AMEX Address: P O BOX 7871 FORT LAUDERDALE, FL 33329 Status: Account charged off. $1,014 written off. $1,014 past due as of 8-1997. Status Details: This account is scheduled to continue on record until 6-2003. This item was verified and updated on 1-2000. Date Opened: 04/1996 Type: Revolving Reported Since: 08/1997 Terms: Last Reported: 08/1997 High Balance: $1,014 Recent Balance: $1,014 as of 08/1997 Recent Payment: $0 Present Report -------------- AMEX Status: Account charged off. $1,014 written off. $1,014 past due as of 8-1997. Status Details: This account is scheduled to continue on record until 8-2004. This item was verified and updated on 7-2001. Date Opened: 04/1996 Reported Since: 08/1997 Last Reported: 08/1997 High Balance: $1,014 Recent Balance: $1,014 as of 08/1997 Recent Payment: $0 Now what am I suppsoed to do it looks like every time they seem to be pushing the 7 year clock further and further as I approach the 7 year Time limit. ANy Suggestion would be help ful.
8/97 charge off = 8/2004 that didn't change 6/96 when it became delinquent (maybe?) = 6/2003 Looks like they might have removed the lates leading up to the delinquency.
I have copies of the reports that have the previous dates on there. Would it be worth to send the CRA copies of their own Credit Repots showing them that the dates seems to have changes
The charge-off date on your account was prior to 12/1997, which was the effective starting dat of the 1996 FCRA reform act that required dating of the obsolescent period from first delinquency. Before that date the 7 year period started from the charge-off date. It is possible that the CRA stated the removal date from the 1st delinquency originally, however, technically THAT was an error. If you dispute this with the CRA, you should be careful not to make any threats of lawsuts or violations, as they ARE reporting correctly. However, it is LIKELY, that if you just plead ignorance of the facts and send them copies of your prior report with the earlier removal date highlighted, they may delete anyway.
Just a simple statemnt that the account reported is obsolete, and well past the allowed 7 year reporting time,include a copy of their report showing the orignal first delinquency,(even though it doesn't apply,their system will probably delete it)Make sure in your letter you state the DATE shown as first delinquency, but just refer to it as the "starting date". If you make sure to use the words "obsolete" "7 years" and give the 1996 date,without any reference to the FCRA you stand a better chance of getting it removed.
I have a similar situation with accounts that report charge off dates after a Ch 7 bankruptcy (in which they were included). The bankruptcy was filed 10/97 and discharged 1/98. There are charge off dates stretching sometimes 4 years past the discharge date. Can I petition to have those charge offs rolled back, effectively, to the discharge date of the Ch. 7? Thanks.
Maybe it's AMEX or maybe it's the report...looks like Experian to me, right? I have an old AMEX account, closed back in August 1997, perfect history and all that, no problems, but it says on my Experian report, this account scheduled to continue on record until 08/2012. No sh*t! Can you believe that? It's just so odd. I don't know what to make of it.
Re: Re: Confused about the 7 year clock I think that since your account has had no problems (derogs) it is actually a good thing that they will keep it on record. It gives you a long credit history which can boost your scores
Re: Re: Confused about the 7 year clock I've had a similar problem with an Amex account. It all of a sudden started showing a $34 balance after years showing zero (which is what it should have shown). Now they have extended the date it will be removed also.
