I may be mistaken but does anyone know if there is a time limit from when a violation occurs until it can be reported to the CRA? ex. charge-off occurs in 99 can a CA not report it until 2003? It would seem that this (although not technically) reages the account for scoring/lending purposes. It appears as though the account is much more recent than it really is?! Directions to threads would be appreciated. I put key words into search and came up with almost every post :^)
I dont see a problem with this as long as the data in the account is reported correct. So if they list the date that account went late correctly, it would still come off at the correct time. Sorry cant provide factual links just my 2 p's.
The limits stated by the FCRA is that an account MUST be charged off no more than 180 days after it has gone delinquant. Once it has been charged off, it doesn't matter when they start reporting it. Now if they have a DOLA (Date of Last Activity) showing 2003 then they've re-aged the account. Once an account has been charged off, unless you agree to something accidentally and agree to start making payments on it to "Bring it current" the DOLA must be the last payment made on the account. Hope this clears this up for you. ChrisB
Example 1* If the DOLA was say 10/1997 It would come off your reports on 10/2004. Example2* However if they did not report this to the CRAs until 8/2004 it would still come off on 10/2004 in 1* it would show on your report for the full 7 years.but in 2* it would only appear on your reports for 2 months.
1*I may be mistaken but does anyone know if there is a time limit from when a violation occurs until it can be reported to the CRA? 2*ex. charge-off occurs in 99 can a CA not report it until 2003? 3*ex. charge-off occurs in 99 had enough ><- <>- ><- <> 1*They can report it any time within 7 years of when it happened. 2*YES 3*If they had listed this in 99 it would stay to 2006 and be showing on your reports for 7 years. Since they did not list it till 2003 it will only show on your reports for 3 years and still fall off in 2006. Which would you rather have it shown on your reports for, 7 years or 3 years? Don't look a gift horse in the mouth.. Surly you aren't complaining because they didn't list it sooner.
No I'm not complaining about it being reported for fewer years I'm concerned because even though TU says it will come off in 2005, I thought I had read that FICO is based on the date reported. Which would make a huge difference! If it looks like it was just incurred or if it was 6 years ago! I was only asking because I know that the scores on PG are fake but the tips at the end of the report (which accounts have a high effect on your score) are showing these 2 accounts from almost 6 years ago and I can't figure out why... if I could maybe I would have a better chance of getting them cleared or at the least reported correctly so they appear as old as they really are!
Re: Re: if it's not reaging what is it? OK: you got a point ,I would like to know the answer to that one too.
