texaninfl Posted January 6, 2009 Report Share Posted January 6, 2009 I'm a bit puzzled by an item on my Experian report. It says date of chargeoff was in March 2006, July 2006 AND August 2004 but I stopped paying on it in 2004. Also, which date is more important with regards to the SOL? There is a "Date of Status" which reads August 2004. It says last reported in 2006. I'm a bit puzzled here. Thank you in advance for your help! Link to comment Share on other sites More sharing options...
wahoo238 Posted January 7, 2009 Report Share Posted January 7, 2009 Charge off is really nothing more than an accounting term for P&L, SOL is based on DoD or DoFD. So when you went into default is when the clock started. Link to comment Share on other sites More sharing options...
Ahntara Posted January 7, 2009 Report Share Posted January 7, 2009 Charge off is both a status and an event. Once an account is C/O'd, the status may be subsequently reported. The 'date last reported' is the month/year a transfer of data occurred. It is meaningless to the length of Reporting Period and to SOL.SOL is state law which establishes a period of time during whch a valid lawsuit may be filed and details the ramifications should judgment be granted.RP is the length of time an account may appear on your CR. It's established by the federal FCRA. There's a sticky at the top of the page for your reference. RP is detailed in 1681c, Subsection 605. It begins with the 'commencement of the delinquency'.Experian typically doesn't list the 'commencement of the delinquency', which usually parallels the beginning of SOL. You should read your state's law just to be sure. "Date of Status' can be ignored.You can contact Experian and request the date they have been provided as the beginning of RP. They HAVE it. We know this from readihg the FCRA 1681s-2, Subsection 623.BUT..."...last reported 2006..."Any correspondence on this TL will trigger a standard CRA dispute. The result will either be suppression or an update. The update will, most likely, cause a drop in your score. Just FYI. Link to comment Share on other sites More sharing options...
OPM Posted January 11, 2009 Report Share Posted January 11, 2009 RP is the length of time an account may appear on your CR. It's established by the federal FCRA. There's a sticky at the top of the page for your reference. RP is detailed in 1681c, Subsection 605. It begins with the 'commencement of the delinquency'.[uNQUOTE]Where is the sticky?? Link to comment Share on other sites More sharing options...
Ahntara Posted January 12, 2009 Report Share Posted January 12, 2009 Underneath the quote from Cicero. Link to comment Share on other sites More sharing options...
OMGWhatHaveIdone Posted January 12, 2009 Report Share Posted January 12, 2009 OPM, Here, I made things easier for you, I believe this is the link Ahntara was referring to: It points to the FCRA. http://www.creditinfocenter.com/legal/FCRA.shtml Link to comment Share on other sites More sharing options...
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