I have an account that is no longer open. An auto loan that was opened in 10/96. The loan was paid off in 9/2000. The current status on the account is showing "Paid/Past due 60 days". The date of status is 11/2000, a full two months after I traded the car in. The last reported date is showing 11/2000. Now the account is scheduled to continue on record until 4/2007. Is this re-aging. And how can they say that I was past due 60 days when I didn't even own the vehicle? Anyway, if someone can explain to me how re-aging works and how can I call Experian on this would be a blessing? Thanks EX-600 EQ-528 (+4) TU-514 (5/7/02 down 11 dammmmmm)
It would help a lot if you can get the new loan company to give you proof of where they paid off the old car. The dates of the check or wire transfer will prove the date that the car was paid off and subsequently could not have been late. That's where I would start.
From what you said: Date opened 10/96 paid off 09/00 date of status 11/00 date last reported 11/00 fall off report 04/07 listed as "Paid/Past due 60 days" I have a question for you. Is the balance listed as zero? This should be listed as (Recent Balance: $0 /paid as of 11/00) if this is an Experian report you are looking at. Also is this account listed in the (Potentially Negative Items) section? In any case any installment account that says paid should be closed. The (This item is scheduled to continue on record until date) is supposed to be 7 to 10 years from the date of status depending on whether the account is considered a negative or positive. This account should be a positive account with a 60 day late so the fall of date should be 11/11. It looks like the pay off check between the two dealers was sent 60 days late. Assuming you have the paperwork the place to start is with the auto dealer who reported you late. Good luck.
