I have a question regarding the 7 year rule for removing negative items on a credit report. Recently, I discovered a charged-off account with Wachovia Bankcard Services...an account that was opened in 1993 and has it's last activity listed as 4/95. I never held this account, and assumed it was inaccurate. When I had the bureau investigate it, they would not remove it because they stated the account was listed correctly with the debtor...obviously now I'm thinking it's a case of fraud or even someone with the same name as me with a somewhat similar social security number. When I contacted Wachovia, they stated I have to send them a copy of both sides of my driver's license, a copy of my social security card, state that I never owned or benefitted from their card, sign it, and have it notarized. Only then will they compare the signatures with the original application. My question is this...should this have already been removed from my file, considering the account was opened 9 years ago, or is it due to come off the report after 4/02? Obviously I'm going to make sure the company removes the account from their records altogether...as it was never mine or a member of my family's...but I'm more interested first in getting this item removed from my report bureau files Oddly enough, when First USA took over Wachovia, they began reporting the same debt...with the same information and dates, thus duplicating an entry into my file under 2 different company names. I'm having NO luck with the credit bureaus on this one, and the company doesn't seem too responsive to my requests/demands to settle this. Any advice or help from anyone out there would be greatly appreciated.
If the DLA is 4/95 then it would come off automatically 4/02. Send them the stuff they asked for. That is standard procedure if you believe it is a fraudulent account.
I would think so...but wouldn't it be embarrassing if it really was their account and they forgot about it? I mean, I can't hardly remember what I was doing in 1995 much less which cards were in my wallet.
Send them this information so they can add it to the account and the account becomes yours. 4/2 is correct! ===========
If I were you, I'd call and ask them what identifying information they have for the account... and get it sent to you in writing. name address phone social security number etc see if it even matches your information. Then if it really sounds like it doesn't, send an affidavit of fraud to them... notarized. You may also have to get a police report. The credit bureau stuff is one thing, but now that there's stirred up activity they might sent it to a collection agency or sell it. IT's not just this tradeline, it's the possiblity of it biting you in the assets later. Take care of it with Wachovia. But first ask what info they have. I tend to hesitate to send my info off the bat because some unscrupulous lenders have then used it (I've seen this with other people) to generate documents looking like the debt is yours. For example, say the social is close, or isn't. You give them your info. What's to keep them from changing the ssn to yours? Wachovia is reputable... so I'm not suggesting that they would do that... but I'd proceed cautiously with handing out all your info right off the bat. Later you can send it to them if you need to.
Good thinking, Marie. I don't think Wachovia does stuff like that either, but that's a good rule to follow.
Thanks for all the replies...they're greatly appreciated. This whole ordeal with Wachovia/First USA has raised so many questions... And for the record, I was 19 back in 2/93, only held one credit card at the time from a bank here in Boston, and they have already stated that they have never had a business relationship with Wachovia...the card was issued through their own credit department. This account is also at a zero balance, by the way...leading me to believe this isn't really a case of fraud...but I'm confident I never had this account and will pursue all avenues to remedy it. My next question is this. How can Exp hold this on my file until 6/2008? According to my Exp file, the account was opened in 2/93, but REPORTED since 3/99. Is it legal to hold off on reporting an account for six years??? Sounds to me like they re-aged this account. How can the Efx and Exp reports be so far apart?
And you were 19?? Who had your personal information back them and might have used it to get a credit card? Did you have a roommate?
There's also a possibility that if you had a different card back then, the account was sold or transferred to Wachovia. I had a Partner's First Card, and it was transferred to Wachovia. And of course you know that recently First USA got Wachovia accounts. It seems they've been wishy washy on the creditor change, too. They still call it a "Wachovia" card even though the debt is owned by first USA. Some of my accounts show Wachovia Bank Card transfered to First USA, some show Wachovia Bank Card transferred to Wachovia Bankcard. Anyway, check your records to see if you had any other accounts back then that match the account number. If this is actually your account, it could be when you knew of the account it had a different name. -ingenue
I've thought of all of that. The only credit I had at the time was a Visa through BayBank in Boston (now Fleet Bank). I paid that card off and closed the account. Equifax couldn't verify the Wachovia account and deleted it, leaving the First USA on my report (due to come off this April). Experian verified it after I requested an investigation and won't remove it...as I said before, they'll be reporting it until 6/08 (a little shady if you ask me, considering Efx's dates)...I'm waiting on the proof from Experian.
