Expert: Yan Ross - 11/28/2009

Question
I recently obtained my credit report and noticed a few things that I think should not be under " negative accounts" First I have a car note that I am still paying. I was 30days late back in january 2009,since then I have been paying on time. Should that be as a negative account? Second, there's another account that states  - Date of fist delinquency 1/2003, date reported 10/2009, date of FIRST major delinquency 7/2009. So can this be dropped because of SOL of 7 years in 2010? Third, I have 3 charge off accounts that are the same account. Same balance, same debtor, same everything. is this affecting my report 3 fold?  Last, I have 2 accounts that I paid off on time no delinquencies and then closed off, but they are appearing under negative accounts? Can I dispute all of these? Can I have them removed? Any advice is greatly appreciated - thank you

Answer
Andy,

It sounds like you are taking steps to clean up inaccuracies and possible duplications in your credit reports.

Following are some suggested answers and actions:

First I have a car note that I am still paying. I was 30days late back in january 2009,since then I have been paying on time. Should that be as a negative account?

    In general, your late payment is an historical fact, so it will continue to appear even though you have been paying on time since that time.

Second, there's another account that states  - Date of fist delinquency 1/2003, date reported 10/2009, date of FIRST major delinquency 7/2009. So can this be dropped because of SOL of 7 years in 2010?

    You've got a gray area here, with the date of the "report" substantially after the date of the occurrence.  I would suggest that you send each of the credit reporting agencies a written statement of up to 100 words, in which you explain the facts and circumstances.  That way, even though the item may still appear in your credit report, the potential creditor would see your side of the story.

Third, I have 3 charge off accounts that are the same account. Same balance, same debtor, same everything. is this affecting my report 3 fold?

    I would suggest here again that you send a written statement, first requesting that the duplicate items be removed, and then that the statement be included in any credit reports the agency sends out in response to a credit inquiry.

Last, I have 2 accounts that I paid off on time no delinquencies and then closed off, but they are appearing under negative accounts? Can I dispute all of these? Can I have them removed?

    Yes -- send a written correction request to each of the 3 credit reporting agencies (Experian, Equifax, & TransUnion).

I hope that helps.

Good luck!