Just write TransUnion, (and the other two...Equifax & Experion) and tell them that these should be removed. Use the phrase "out of date information" or "old information". Explain that the dates they have are 7 years old, and you want them removed from your credit report. That should take care of them. If any of them were filed for in bankruptcy, and are still being listed as "charged off as bad debt" then you have another thing to tell them, that it is incorrect or "fraudulent" information. Creditors hate the word "fraud". It spells "law suit".
FYI: Bankruptcy stays on your credit report for 10 years, however it is not used against you after 7 years....except by some creditors. Be sure to build up your credit report with GOOD debt, especially a home mortgage or a SMALL credit card. NEVER, EVER let them go over 30 days late.
Good luck!
2007-05-05 02:41:31
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answer #1
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answered by sharbsmith 3
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I agree with sharbsmith, contact the CRA's, in writing, and tell them the accounts are obsolete and request that they remove them.
The one that is listed as a charge off is the original creditor.
The one that is listed as a collection account is a collection agency. And no, the collection agency cannot list it as charge off or report it for another 7 years. It must be removed from your reports on the same date the original creditor is removed.
Neither account can legally be re-aged to report for longer than the original time.
As for the extra 180 days that ag485 mentioned, the 180 days is only allowed by the FTC for possible data furnisher error of the true obsolescence date. (FTC Staff Opinion Letters)
Depending on what type of account you are talking about, if it is for credit cards, the true obsolescence date would be the first time you became 30 days late and never brought the account current leading to the charge off.
The reporting period would be 7 years from that date, not 7 years plus 180 days.
2007-05-05 19:27:11
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answer #2
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answered by echo 7
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The Fair Credit Reporting Act (FCRA) starts the 7 year clock only 180 days after the account was first delinquent. So you have another 5 months to wait on one, and 7 months on the other. In addition, credit bureaus are often a month behind in their reporting, so there may be another month to wait.
The 'collection account' will not turn into 'charged off as bad debt' now - It was probably charged off 6 months after you were first delinquent.
2007-05-05 03:10:38
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answer #3
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answered by aj485 5
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If the debt is a "judgment" than it stays on your credit 20 years, even if it's been paid.
I would contact TransUnion through a letter, to check your credit report and remove anything else that has been on there for 7 years, especially if it's already been paid. I would also get a copy of your credit report from the other two agencies, Experian being one of them the other being Equifax. Oddly enough, all three credit reports can say three different things. It's best to check your credit report periodically, every six to 12 months. If you have a dispute about one of the charges on your account, send a letter to that credit reporting agency and state that the charge is being disputed and show proof of your reason for disputing that charge. Your statement of the dispute will be placed on your credit report for all creditors to see. I have found that sending these letters certified/return receipt mail, is the best option. This shows proof that you sent the letter and also assures you that the CRA GOT your letter in the first place.
Getting your credit report straightened out, can be a real hassle. Persevere though. It will pay off in the long run. I was successful in getting my credit report squared away, you can too.
Good Luck to you...
2007-05-05 02:34:44
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answer #4
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answered by HeatherM 3
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I don't think that that "seven year rule" is followed completely, or that there is no way whatsoever to not find bad credit. I say this b/c my husband and I had a bankruptcy over seven years ago and it is still mentioned to us as a reason why we can't get certain loans, etc...Perhaps if we were more aggressive in getting it removed...I don't know, we haven't tried. Why don't you try contacting the agency that writes up the credit reports and ask? Good luck!
2007-05-05 02:28:25
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answer #5
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answered by Anonymous
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make three copies of your report,driver's licence and ssn card for identification. On your report circle the expired debts. Wtire a letter to each repostiroy asking to have the items removed. By the fair credit reporting law, they have to reposnd to you in 10 days and make the changes in 30 days. While you are at it review your report for any other deblt that my be listed and is paid. Send a copy of each resciept in the letter.
2007-05-05 03:13:40
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answer #6
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answered by Gwynn T 3
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It should have come off after 7 years, you can write to them and tell them to remove it.
2007-05-05 02:28:24
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answer #7
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answered by You may be right 7
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