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Need the Experts!! re:Status Date


c m chase
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Ok, I know what the status date is....but don't know for sure what it IS is. :shock:

Is there any real definition of 'date of status'? We all know that sometimes when we dispute, especially with Experian, they'll change the date of status. We also know this lowers our scores. I read somewhere today that someone disputed an iib account, EX upped the status date and it chopped her score by 100 points. OUCH.

Now, that just doesn't seem legal or even fair to me. Sure, they verified on such-and-such date that the status was _______ (fill in the blank)....but should they change the date?

So IS there a legal definition for this? CAN they change the status date or is that for the furnisher? Can you dispute status date because it's their fault it's killed your scores? Would this hold up in court that they're TRYING to make your score lower?

Just need some clarity. xrainx

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Not sure if there's a "legal definition" with regard to the CRA / OC reporting, but there seems to be some creditors (Providian for one) that will report the current negative status every month (ie: charged off). That is the current status, and they can for all intents and purposes report the status until the expiration of the 7-year rule.

With IIB, should it continue to be updated in a way to damage your credit as if it just happened? Should they continue to be able to report on an account that was discharged in BK? I think not, but I'm not an attorney.

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I guess they are not consistant with this.

I have a Providian acct that was charged -off and then settled in 10/02

It shows as : status as of 11/02 - charge off.

no other entries since then

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