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Odd reporting from the big 3's


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Hi everyone and happy New Years!

First let me say thanks for the info and this great sight. I have just been lurking since I signed up. For the record I have used the search engine to find answers to my questions and have been very successful. I have pulled all three reports and am in a dilemma. I've been waiting for an old cc debt to fall off of my report. It was opened in 2000 and should have been CO in the same year. The dilemma is EX and TU are listing it as a CO, which is correct. EQ is listing it as an still open and never late. Do I let the 7 year rule of thumb pass by so it can fall off or should I request an itemized record of the account from the OC and hope they've destroyed their records by now.

Thanks in advance,

Cajungirl

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Hey there, welcome aboard. I don't have an exact answer for you, but here's some thoughts...

First, CO in inself, doesn't mean squat. Its an accounting term, which doesn't help us poor debtors at all. Now, if the TLs say "charge off/sold to another lender" with a balance of $0, then that does mean that its been sold to a JDB. The OC's TL will fall off at 7 years, but, you still might have the JDB to deal with.

Second, its not uncommon for the 3 CRA's to have differing information. Not only because not all creditors report to all 3, but, even if they do, the 3 CRA's have differing ways of intrepreting what they're told. If EQ doesn't have the debt listed under "derogatories"...I'd just leave it alone. Good marks are good marks, even if they're wrong.

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:woohoo: Hey lady is your nick name from a birth origin or did you just pick it.

I am from La. and still there.

Okay, I must shamefully confess. I'm not Cajun by birth origen. I just picked it because I left La. after Katrina. Lived in the Baton Rouge area BUT................. I love that place!!!! That tasty food is not found anywhere else in this country. IMO The culture, the swamps, the Big Easy wow I'm already getting homesick. So you see I am truly a Cajun girl! LOL Thanks

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Hey there, welcome aboard. I don't have an exact answer for you, but here's some thoughts...

First, CO in inself, doesn't mean squat. Its an accounting term, which doesn't help us poor debtors at all. Now, if the TLs say "charge off/sold to another lender" with a balance of $0, then that does mean that its been sold to a JDB. The OC's TL will fall off at 7 years, but, you still might have the JDB to deal with.

Second, its not uncommon for the 3 CRA's to have differing information. Not only because not all creditors report to all 3, but, even if they do, the 3 CRA's have differing ways of intrepreting what they're told. If EQ doesn't have the debt listed under "derogatories"...I'd just leave it alone. Good marks are good marks, even if they're wrong.

Thanks for the invite and your opinion. I kind of thought along the same lines. The account was opened in 02/00 and closed shortly after. I only have to bear the bad marks for a little longer before they fall off of EX and TU. If EQ chooses to continue to report it in good standing then so be it and because of the good advice given on this board, I now understand that even if EQ catches their mistake, they still have to drop it off at the required time.

Thanks again

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