EX: disputing a charge-off close to the 7 year mark

[max.b]

As it turns out, I still have a CC charge-off on my EX. The DOFD is now 6 years and 9 months ago.

 

I had previously disputed it by mail as "no knowledge of this account" (technically correct, because the account number is unfamiliar to me). However, the TL remained.

 

• a. Should this go away automatically in 3 months?

 

• b. If I dispute it now (online this time), what would be a good "reason": "no knowlege" or "balance incorrect" (balance = $0)

[LKH]

You can dispute it now as obsolete. No guarantee it will work, but the CRA's will usually remove negatives about 3 months prior to the drop off date if you dispute it.

[hrguy]

EX usually holds on to everything for an extra month, so possibly 4 months at the max. Dispute it as obsolete, it may go away now.

[max.b]

 

EX doesn't have "obsolete" as an option. Should I choose "Other reason"? I previously stated that I have no knowledge of this account. Wouldn't claiming that it is "obsolete" be inconsistent?

 

By the way, some people mention 7.5 years as the relevant time period, rather than 7 years. Which one applies here?

[valdo12]

7.5 years if you go by lates thru CO - 30, 60, 90, 120, 150, 180, CO.

 

7 years if you just look at the CO. Example: CO is February 2006 so 7 years would be February 2013. However, it depends on how the CRA does it. It may not actually fall off on the exact anniversary date, but sometime during the month or the following month like March 2013.

 

People really shouldn't say 7.5 years because it confuses people; easier to just add 7 years to the CO.

[max.b]

Thanks for the explanation, valdo12.

 

It sounds like this baddie has another 9 months instead of 3 months left in it.

[hrguy]

I would just do other and type obsolete or beyond reporting period. Does the account give you a date for removal? EX keeps everything a month beyond the other two bureaus, where the other bureaus are usually down to the day.

 

i.e. Inquiry on EQ/TU and EX for 1/13/13 will remove on EQ and TU on 1/13/15 two years to the day, on EX you will see removal date of 02/2015. They usually run all their removals, the second Sunday of the month - so anytime something is due to come off in January or whatever month, you can expect it to stick til the 2nd Sunday of the following month.

[hrguy]

So basically, check the tradeline in question against EQ and TU, whatever month those two say - EX will be the month after. Usually for tradelines, EQ and TU will remove them the first day of that month, since they do not go by days for tradelines just month and year.

[valdo12]

Thanks for the explanation, valdo12.

 

It sounds like this baddie has another 9 months instead of 3 months left in it.

 

Well, maybe 9 months. Go by the estimated date of removal because alot of my baddies that have been falling are removed during the month or the following month of when the CRAs say. However, if they truly went by the CO many of my baddies would fall off much later. So, if 3 months is what the CRAs are saying then it should fall off that month or the following month and not 9 months.

[max.b]

My CO was reported very differently in TU, EQ and EX.

• EX shows: 04/2006 as the first "late" and 10/2006 as CO
• EQ showed: last payment 01/2006; 1st delinq 10/2005; Date Maj Del. 1st Rptd 10/2006 (gone as of 11/2012)
• TU showed: Last Payment 01/30/2006; Estimated removal: 12/2012

So if EX deletes 7 years after CO, it will be a year later than EQ! Why? Is there anything I can do besides an "obsolete" dispute online?

[hrguy]

My CO was reported very differently in TU, EQ and EX.

• EX shows: 04/2006 as the first "late" and 10/2006 as CO
• EQ showed: last payment 01/2006; 1st delinq 10/2005; Date Maj Del. 1st Rptd 10/2006 (gone as of 11/2012)
• TU showed: Last Payment 01/30/2006; Estimated removal: 12/2012

So if EX deletes 7 years after CO, it will be a year later than EQ! Why? Is there anything I can do besides an "obsolete" dispute online?

There is no estimated removal from EX posted in the comments?

 

I would just do an obsolete dispute using other, and placing that in the comments. It is supposed to go by date of first delinquency, at least that is how mine are on EX - that being said, if it shows 4.06 as first late, it should be gone 5.2013

[max.b]

There's nothing in the comments about the fall-off date.

 

if it shows 4.06 as first late, it should be gone 5.2013

 

Valdo12 explained above that it's 7.5 years from DOFD, or 7 years from CO. Was that wrong?

[hrguy]

7 years and 1 month from DOFD, that is how mine show for my IIB accounts. For instance, all my accounts were IIB (included in bankruptcy), some of them were delinquent before BK - so my BK was discharged in 7/2012. Some of them had a DOFD back in 2010. Even though the final event was in 7/2012, and my current accounts that were IIB will fall off in 8/2019, those from 2010, fall in 2017 according to my report, despite them having the final KD (key derogatory) in 7/2012.

 

Sometimes when you dispute an account so much with EX, the estimated date gets removed. Try and find an old report to see if it is on there from before. I would still dispute it now, the worst that will happen is it will stay - you have nothing to lose, but if it stays, I would not allow it to stay past 5/2013 based on DOFD being 4/2006.

Edited February 1, 2013 by hrguy

[Redskin547]

There's nothing in the comments about the fall-off date.

 

if it shows 4.06 as first late, it should be gone 5.2013

 

Valdo12 explained above that it's 7.5 years from DOFD, or 7 years from CO. Was that wrong?

MaxB dont get discouraged, from my personal experience, it is more in line with what LKH said. They can fall off as early as 6 years and 9 months from DOFD. YMMV but dont think it is going to be 7.5 yrs. One may be a month longer than the other. I would dispute it if it goes a day over 7.