I noticed when I looked at some of my accounts on Experian Credit Expert that they are updating some every month. BTW, my BK was filed 9-1998 and discharged 12-1998 Here's one: Status Details: This account is scheduled to continue on record until 1-2005. This item was verified on 4-2002 and remained unchanged. Date Opened: 04/1994 Type: Revolving Reported Since: 02/2003 Terms: NA Date of Status: 02/2003 Monthly Payment: $0 Last Reported: 02/2003 Credit Limit/Original Amount: $200 High Balance: $162 Recent Balance: $0 as of 02/2003 Recent Payment: $0 Account History: Charge Off as of 2-2003 Filed Chapter 7 Bankruptcy 02/28/2003 Balance History: $162 01/2003 $162 12/2002 $162 11/2002 $162 10/2002 $162 09/2002 $162 08/2002 $162 07/2002 $162 06/2002 $162 05/2002 $0 04/2002 $162 03/2002 $162 12/2001 $0 11/2001 $0 10/2001 $162 09/2001 $162 08/2001 $162 07/2001 $162 06/2001 $162 05/2001 $162 04/2001 Between 4-2001 and 1-2003, your credit limit/high balance was $200 Is the fact that it says the correct date for the DOLA ok or should I be concerned that it keeps updating the charge off dates. Thanks, Kim
The DOLA is supposed to be when the 7 year clock starts. The charge off date is usually 5-6 months after that. Let's say you default on 1/02. After 5-6 months of trying to collect they charge it off. So you'll have 2 dates. On EXP it should say when the account will fall off the record. That's the date that I personally think matters. On my EXP reports the DOLA and the date to fall off are exactly 7 years. Hope this helps.
Ok, so since mine says that it is scheduled to report until 1-2005 it's ok. That would be accurate. I believe it first went past due around 1-1998 and I filed BK later that year. So you wouldn't worry about the fact that they say it's a charge off as of 3-2003 and has had a balance since the BK? Kim
If it was included in BK, it should have all 0 amounts ! BUT, if you filed 9/98, the clock on the "included in BK" notation started 9/98. It looks like they started the clock 2/98. Since they have both CO and BK starting 2/98, it ALL comes off 2/05. If you dispute this, realize you could end up resetting the "latest" clock correctly to 9/98 and THEN the BK notation stays on that account until 9/05. Looks like you'll have to pick your poison !
I belive the dates for it to remain are based on the DOLA which was 1-97 when I first went past due. I never paid on it after that. It just bothers me that it says it was charged off and that I filed BK in March 2003. I don't know if that is what is hurting my score. Kim
I don't think, at that TL age, your FICO score would distinguish sgnificantly between "included in bankruptcy" and "charge-off" or even showing both. It's not clear to me if you did include it in BK. Nevertheless, my choice would be to let that dog lie unless you need it to come off earlier. Maybe someone else here can offer more sage advice. P.S. My experience, and I'm sure many others', was that virtually no creditor included in bankruptcy comes along and does you the service of reporting the account "included in bankruptcy" on their own. I disputed and got most of my 19 creditors to read "Included in Bankruptcy/Never Late" which is the best I can do as far as accuracy is concerned.
It was included in my BK that I filed in 1998. I never filed BK in 2003. That is my question. I know that it can't come off my report any time sooner than 2005. I just wondered if the fact that EXP reports I had a BK AND a charge off with this account in 2003 would hurt my score. As you can see from the paste of the info it also states that I had a balance on this account up until 3-2003. I guess you say it wouldn't affecty my score to have a recent charge off since the DOLA is so old.. I can't figure out why my EXP score usually is significantly lower than EQ and TU. Thanks, Kim
Re: Re: Question about EXP report Well, yeah, on some of my alleged charge-offs they continued updating the balance to the present, no surprise there, and had rescheduled to come off out in 2008 or so ! Once I disputed them to I.I.B. (filed 1/97), the scheduled to come off date was changed to 1/04, which I'm happy with. If it shows coming off in 2/05, my hope would they don't ever move the DOLA past your actual last payment ("re-aging"). My other hope would be that they don't catch onto it being in your 9/98 filing and take that as reason to bump it up to expire 9/05. On score effect, my guess is negligible, but I'm not the FICO expert. Perhaps there's some other difference among the CRAs causing the difference in scores ? BTW, if I recall correctly, EX doesn't give true FICO score and that could account for significant (up to 50 pts either way ?) differences from other scores whether or not the others are true FICO. Granted, the most fundamental explanation for score differences is CRA file contents.
Re: Re: Question about EXP report Crofttk, Thanks for all the help. I'll just let it lie for now. Maybe someday I'll get mad about it and dipute it. I've had trouble with this account being reported wrong before with them. Funny how EQ and TU can get it right but EXP continues to mess it up whenever they can. Kim
Re: Re: Question about EXP report The clock for the Bk should the the date you filed, not the discharge date. If EXP is showing the charge off date of 3/03 that will hurt your score. Look to see what the falloff date for that account is. If the falloff date is 05 then it couldn't have charged off in 03. It might just be the date it was reported to EXP and not the DOLA. Check to see if there are any inquires. This will hurt you score and will give you an idea if there are any bottom fishing CA's looking at you.
Re: Re: Re: Question about EXP report Agreed, already stated. This was given as 1/05 in the original post. So, their records imply the bankruptcy was filed in 1/98. Wrong, it was filed in 9/98. Are you still in favor of stirring this pot ??? EDIT: Sorry, bigmon, I don't think you said you favored stirring the pot. Rephrase: Would you agree with leaving the pot unstirred ?
Re: Re: Re: Question about EXP report LOL, you know this annoys me so much. Somehow when I registered it left the "r" off the end. It was supposed to be "thecatslair" which is my e-mail and my IM handle. I bet lots of people here wonder what it means. Now the truth is exposed. I just couldn't type the day I registered or any other day for that matter. Kim
Re: Re: Re: Question about EXP report Oooooooooohoho ! So you're PETA rehabilitation material are you ? Tell me, had any good fried "sailcat" lately ? (I'm actually quite civilized, I think, just have a sick sense of humor, it's congenital.)
Re: Re: Re: Question about EXP report I take it you were getting at "The Cat's Lair" and not "The Cat Slayer" ? See, I told you, I'm a little ill.
Re: Re: Re: Question about EXP report Yeah, we are the "cat's lair." We have a Jag in the garage. I don't think PETA would have me. When I was in high school I went to a concert. It was a local band that I really liked. Little did I know the night I went was a PETA benefit. Too bad no one warned me or my friends. We all showed up in leather jackets. They were not impressed. Kim
Re: Re: Re: Question about EXP report LOL ! Rrrrrrrrrraaaaaaaaaaaaaaaoooooooooooooww! Oops, I mean Mooooooooooooo! OK, CN Steve, I swear I'm done !
