Hello All, First, I would like to let you know, this site is fantastic! Great for me.. head in a place where the sun doesn't shine. I am trying to help my husband clean up his credit report. He went through a divorce and was left with all the bills (they were in his name). His score went from 840 to 4XX (can't remember it was a few years ago.. maybe 439). Well, we are renters and yet again, near the 2 year mark, our now landlord wants to sell the house we rent. This house we like, and would like to purchase it but.. since his credit score is now Eq 655 Ex 672 and TU 655 (we have been working on bringing up the scores), we know we wont qualify for a mortgage. So, I am hoping you can help me figure out what to do on some of the issues... (I won't list them all in one post) Advanta Credit Card Status: Charge Off Date of last payment: 02/2008 Date of first delinquency: 03/2008 Date Major Delinquency First Reported: 01/2011 81 Month history shows the Charge Off in February of 2009 Listed twice on credit report under 1) Closed Accounts and 2) "Other" Closed Accounts Q? - I don't want to wake an old debt... Will the date of major delinquency be the date the SOL (5 years in my state)? Should I be concerned with this date whereas the date of 1st delinquency is correct? Should this debt be listed twice? Do I leave it alone or is there something I can do to get this removed without further consequences? Cap 1/Venture Stores CC Status: 120 days past due Activity Designator: Transfer/Sold Date of first delinquency 03/2008 Date Closed: 03/2009 Listed twice on credit report under 1) Closed Accounts and 2) "Other" Closed Accounts Should this be considered 120 days past due or transfered/sold/closed? Again, listed twice. The above Cap1 Venture store cc is also listed with a CA: for HSBC?? Why two different creditors? With the date of 1st delinquency of 6/2007 I don't want to overload anyone with too much at once.. if someone can help me understand this info and what my actions should be, I would be very appreciative. Thank you in advance.
The DoFD is your starting point....if the SOL in your state is 5 years, then you're just two months away from this becoming time barred. I suggest waiting until that time before doing anything with this debt. At that point you could try a PFD option offering less than 50% of original amount due. At that point the creditor knows or should know that they've missed their chance to legally collect on this debt and hopefully will play ball. OR if you want for try to get it removed without PFD, you could dispute the account bases on anything that is incorrectly being reported. Are you looking at a hard copy of your report from the credit bureau or online? #2 Cap one bough HSBCs credit card receivables last year. The SOL runs out in two months on this one too. Does the balance show as zero on the c1 listing? I would suggest again waiting out the SOL, then sending a DV LTR to this CA. They're listing the DoFD wrong so you could challenge the account on that. Either way your husband will soon be on the 'cant be sued for these debts' side and gives you an advantage in negotiating removal. Don't call anyone btw, all contact between you and CA and OC should be done in writing.
Thank you for responding mindcrime. I printed the online credit report. I first printed the Equifax and then made the mistake of purchasing the 3 in 1 credit report which doesn't seem to provide the information in the same format as the single one I purchased (no DoFD). The Cap1 does say the balance is 0 with 120+ days past due. Whereas the CA is reporting HSBC collection account balance is $1,182. Also, Advanta is reporting the charge off account balance as $12,245. After the SOL has passed on the Cap1 incorrect reporting, do I contact the CA and /or OC with a DV or do I dispute the accuracy in hopes I can have it removed? Thanks again!
Hi Sis - If the SOL run out as you anticipate in March but the charge off remains, I would dispute w/ the CB based on the fact that the SOL has run out and ask that it be removed. So, dispute letter w/ the CB (Equifax).
Equifax online is like that.....I don't know why, but don't worry, it's not reporting the account twice. With SOL dates so close, I reiterate that you should wait till then especially with the 12k C/O. You would dispute through the CRA, but if going the PFD route, you're writing to the OC/CA.
