razingkane Posted January 27, 2008 Report Share Posted January 27, 2008 I have a AMEX charge-off in 09/2002. There's been no status updates about this account until today. Experian is reporting a major derogatorytoday. I've been working hard to repair my credit. For the past 4 years my credit report was all positive.Why did this happen and is there anything I can do about it? Link to comment Share on other sites More sharing options...
x-ray Posted January 27, 2008 Report Share Posted January 27, 2008 Have you recently disputed the account with any CRA? Link to comment Share on other sites More sharing options...
razingkane Posted January 27, 2008 Author Report Share Posted January 27, 2008 Have you recently disputed the account with any CRA?I've had no contact with the CRA. I've just been waiting for the account to hit it's 7 years. Link to comment Share on other sites More sharing options...
Ahntara Posted January 27, 2008 Report Share Posted January 27, 2008 AMEX can report/update the TL info anytime during the valid Reporting Period, which is 7 years plus 180 days from the first delinquency immediately prior to C/O, collection or similar action. See the FCRA 1681c, Subsection 605 for specifics. No one can tell you why but AMEX. Is the TL accurate? Link to comment Share on other sites More sharing options...
kb9tbq Posted January 27, 2008 Report Share Posted January 27, 2008 Is the SOL up on the debt? If past SOL I would say dispute it with the credit reporting agency and try to get it deleted. Link to comment Share on other sites More sharing options...
TheRoadBack Posted January 27, 2008 Report Share Posted January 27, 2008 how much was the debt for? Link to comment Share on other sites More sharing options...
razingkane Posted January 28, 2008 Author Report Share Posted January 28, 2008 how much was the debt for?$224.68I just pulled my yearly free credit report. According to TU, this AMEX CO is scheduled to be removed 9/2008. Of the 4 negatives I have on my CR, 3 of them say they'll drop off this year....... Link to comment Share on other sites More sharing options...
2001Badyear Posted January 28, 2008 Report Share Posted January 28, 2008 Not sure if it'll work, but have read here where some people have received letters from AMEX "inviting them back" and forgive the problem. Might try a nice letter to them and offer to pay it since it's so small and see what they will do. If you can turn a bad TL into a good one that is a big bonus. Like others said, check the SOL before doing anything. They may drop off, but CA's can pop up for a long time, so this one might be worth some effort. Link to comment Share on other sites More sharing options...
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