Personal Finance

Credit Report Inquiry

  • Last Updated:
  • May 14th, 2015 3:39 pm
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[OP]
Newbie
May 12, 2015
2 posts
Calgary, AB

Credit Report Inquiry

Hi everyone,

I'm sure this has been asked ad nauseam, but I'm wondering if you can give me some feedback on this derogatory item from my Transunion report. I've seen material online from various blogs and personal stories that Transunion 'tags' this item for removal six years (Alberta) from the date of 'first missed payment', but I can't find this piece of information on my report:

Account Name CITI CARDS/HOME DEPOT
Account Number 6035************
Condition Derogatory
Responsibility Individual
Current Balance $0
Original Balance $600
Limit $0
Payment $0
Last Payment 11/07/2011 <---is this the date + 6 years when it will be removed?
Status Collection / Charge-Off
Term [Monthly (due every month)]
Loan Type Revolving Account
Opened 03/08/2006
Reported 07/09/2013 <---or is this the date + 6 years when it will be removed?
Remarks [Bad Debt Write Off]

Also, there is a cross referencing item under "Collections" that shows two different dates from above 'Accounts' section. Perhaps one of these dates is the real one when it will be removed?

Opened 09/25/2012
Reported 05/07/2015 <--- at least they're timely in their reporting ;)

Thanks!
2 replies
Deal Fanatic
Apr 16, 2007
8132 posts
3476 upvotes
Financial District B…
The last payment you made on the original account should act as the legal DOLA reporting timelimit start date.
Collection agencies usually post the date when they we're assigned the account for collection duties. It can state Date Assigned or Opened as like yours does.
The updated reported date indicates that agency is actively working the account. The stale date on the original creditor tradeline means they are not as they have assigned the account to a third party agency in and around that date shown. Some creditors will continue to update their reports on Equifax and TU even though the account has been assigned. Some do some don't.
----------------------------Licensed Credit Bureau member, S1, FI Automotive, CCP forums most banned = x 13 and counting, guess who that is?... stomped to the curb once again
[OP]
Newbie
May 12, 2015
2 posts
Calgary, AB
mikeymike1 wrote: The last payment you made on the original account should act as the legal DOLA reporting timelimit start date.
Collection agencies usually post the date when they we're assigned the account for collection duties. It can state Date Assigned or Opened as like yours does.
The updated reported date indicates that agency is actively working the account. The stale date on the original creditor tradeline means they are not as they have assigned the account to a third party agency in and around that date shown. Some creditors will continue to update their reports on Equifax and TU even though the account has been assigned. Some do some don't.
Hi Mike, thanks for the feedback.

From your view, is there any harm or chance of 'resetting' any of the dates when I make a payment. Also, if the agency offers to negotiate, is there any disadvantage to my credit if I accept?

Thanks again!

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