igotcha Posted March 18, 2005 Report Share Posted March 18, 2005 Ok, here is my question. I currently have two chargeoff (Crap1 and Citi). The DOLA are 5/2000 and 8/2000, but the Date of last payment on one is 3/2002, and both show date of last reported 12/2004 (I assume partly in due the fact i disputed it again). One question, I have is from which date does the clock start ticking before it falls off. Another question, Crap1 reports it every month as 'Chargeoff", with comments "paid after chargeoff" and $0.00. Neither of them went to a CA. I have tried not mine, never late. My next one will probably be "paid before chargeoff". If someone has any better reasons, I would love to hear them or any other added advice.Thanks for all the great info I have found, just wish I had found it sooner. Link to comment Share on other sites More sharing options...
willingtocope Posted March 18, 2005 Report Share Posted March 18, 2005 Question: Did you indeed pay one of them in 3/2002? Which? Are all 3 CRs reporting it the same way? Link to comment Share on other sites More sharing options...
igotcha Posted March 18, 2005 Author Report Share Posted March 18, 2005 The Citi card I did pay around that date and shows up on Trans and EQ. Doesnt report on Exp. Citi reporting history every month as CO on both Trans and EQ. The Crap1 shows last reporting history as of 01/2001 on all 3 CRA. Link to comment Share on other sites More sharing options...
willingtocope Posted March 19, 2005 Report Share Posted March 19, 2005 So basically, Citi is reporting correctly. IMHO your next step should be a good will letter to Citi management saying "...really sorry...great company...fell on hard times, but I did pay you off...trying to get my life back together...can't you pretty please delete your TL..."Not sure this will work, but your only other tactic would be to try to wear them down with dispute after dispute...and since much of the CRAs validation is done by computer, its unlikely to work. Link to comment Share on other sites More sharing options...
ggluvbug Posted March 19, 2005 Report Share Posted March 19, 2005 what about the original question. when is the fall off date? if they keep reporting, what is the legitimate fall off date? from delinquency or last payment? i have a similar situation. Link to comment Share on other sites More sharing options...
willingtocope Posted March 19, 2005 Report Share Posted March 19, 2005 According to the FCRA:(1) In general. The 7-year period referred to in paragraphs (4) and (6)2 of subsection (a) shall begin, with respect to any delinquent account that is placed for collection (internally or by referral to a third party, whichever is earlier), charged to profit and loss, or subjected to any similar action, upon the expiration of the 180-day period beginning on the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action.which I believe means from original delinquecy... Link to comment Share on other sites More sharing options...
igotcha Posted March 21, 2005 Author Report Share Posted March 21, 2005 So that being said, does the clock start from last payment received 3/02 or from DOLA? In regards to the Citi chargeoff, the payment history continues to report CO, even though it has been paid off. The status of the account remarks "paid chargeoff" Are they able to continue reporting the payment history as "CO"? Link to comment Share on other sites More sharing options...
willingtocope Posted March 21, 2005 Report Share Posted March 21, 2005 IMHO, as far as the CRA are concerned, the reporting period starts at delinquency plus 180 days. Now as far as the SOL is concerned, that a state by state thing and may work either way.As for how it gets reported, each CRA has their own wording. "Charge off" with a balance of zero in my mind is the same as "Paid Charge Off". Link to comment Share on other sites More sharing options...
Recommended Posts