I have a paid charge-off on all 3 CRA's. It is for an account opened in 11/89 that went sour (long story) 12/91 and was closed by the creditor 6/92. It was listed on an old CRA report in 9/93 as being 120+ days past due.They finally charged it off in 1996, and that is where the CRA's are telling me the clock starts for 7 yrs of good luck. Is there anything I can do to get rid of this last neg item? [I just disputed several negs as not mine (including this one) and 3 of 4 were removed.] Any ideas on a next step? Whatever happened to the 7 yrs starting from the date of the delinquency leading to the chargeoff? Once I got behind on the account, it was never brought current before the charge off. Thanks in advance.
RE: Time on CRA report is over It's reported 7 years from the original delinquency date OR the date of charge-off. What is your proof regarding the date of charge-off? Are you just accepting the charge-off date on your credit report(s) as gospel? If it's listed with 1996 as the charge-off date, and you've disputed it already and/or if the creditor verifies the charge-off date, then you're pretty much stuck. If the charge-off was actually years before (it should have been 6 months or so from ODD), then you'll have to find proof that the charge-off date is being reported incorrectly. Heck, I'd dispute it as 'incorrect charge-off date, should be removed because charge-off was in [insert date here]' and see how it goes.
Also... I would write to the company who is reporting it and ask for verification of the debt including all the dates. Send it certified. They may not respond to you so you could try and get it removed that way. I had a Citibank loan that I did this with. Trans and Exp. removed it per the letter written from Citibank that they couldn't help me with that info because the loan had been sold. You only lose the postage if it doesn't work.
