Ugh... when does this stuff fall off.

[kingrat]

I really don't get SoL when it comes to my credit report. I had a parent destroy my credit when I was 15 (I know, I know...) and I wasn't willing to jail them over it, so I've been suffering silently with bad credit for years and living on cash.

Everything has no fallen off, except for two bad items (taken from my Equifax CR):

1.) A CapOne account listed as charge-off for 6,313 dollars. Date Opened: 6/1997, Date Reported: 12/2006, Date of Last Payment: 01/2001, Date of Last Activity: N/A.

2.) Amex account listed as charge-off for 22,796 dollars. Date Opened: 03/1998, Date Reported: 09/2003, Date of Last Payment: 9/2000, Date of Last Activity: N/A.

Any opinions? I have three credit cards presently (nothing great), but I pay them off perfectly. I feel like as soon as the above stuff falls off I'll be sitting pretty... but they seem to stick around forever.

[direred]

Just so you know, you won't be able to get credit with Amex unless the amount's paid.

[kingrat]

That's okay. I don't want an Amex. I just want to know when the derogatory accounts will fall off my credit report. I want to get a mortgage and buy a house. My current credit score (Experian) is a 625. Everybody else is above that.

[direred]

Sorry, meant to go back and edit that post, and then got into a crisis when I realized that FedEx said my Roomba was delivered and it wasn't on my front porch. Went out to go look for it, and, well, never got back to the post. (Roomba nowhere in evidence, darn it.)

The Cap1 will probably fall off in Jan 2008, though they can report until July 2008.

The Amex should probably fall off in Sep 2007, though they can report until Mar 2008.

[Enigma]

Write a letter to each CRA:

Dear CRA:

!. <insert account name>, <insert account number> is obsolete. Please delete it from my credit file.

2. Rinse and repeat for each one.

Mail it certified mail. It does not need to go return receipt also.

[jlynn]

Who said you have to report your parents as the culprits? At the age of 15 you weren't even able to legally sign a contract.
Were you 15 at the time of the last payments (00-01) or when they opened them?

[kingrat]

Quote:

Originally Posted by jlynn Who said you have to report your parents as the culprits? At the age of 15 you weren't even able to legally sign a contract. Were you 15 at the time of the last payments (00-01) or when they opened them?

I was actually sixteen at the time one of these was opened. I was about nineteen or twenty when I realized what was going on. I've been diligently waiting for these to fall off--- and I can almost taste it!

[kingrat]

Quote:

Originally Posted by Enigma Write a letter to each CRA: Dear CRA: !. <insert account name>, <insert account number> is obsolete. Please delete it from my credit file. 2. Rinse and repeat for each one. Mail it certified mail. It does not need to go return receipt also.

That'll really work? I thought they had to be older than seven years to be obsolete?

[jlynn]

Its 7 years from the date they first became delinquent and never caught up. For example, the Cap One account would fall off around Feb 08, and the Amex account will fall off around October of this year.

If it were me, I wouldn't dispute them as obsolete - they aren't. I would dispute them as not mine - a minor at the time of opening and send a copy of a birth certificate or DL with proof of age.

If that doesn't work, I would send a FACTA dispute directly to the furnishers.

You shouldn't have to jail a parent in order to get fraudulent accounts off your report, nor should you have to suffer with bad credit for their bad behavior. IMHO, its the cc companys' problem and is a separate problem from reporting.

But then again, I'm not familiar with all the new ID Theft rules.

[kingrat]

Quote:

Originally Posted by jlynn Its 7 years from the date they first became delinquent and never caught up. For example, the Cap One account would fall off around Feb 08, and the Amex account will fall off around October of this year. If it were me, I wouldn't dispute them as obsolete - they aren't. I would dispute them as not mine - a minor at the time of opening and send a copy of a birth certificate or DL with proof of age. If that doesn't work, I would send a FACTA dispute directly to the furnishers. You shouldn't have to jail a parent in order to get fraudulent accounts off your report, nor should you have to suffer with bad credit for their bad behavior. IMHO, its the cc companys' problem and is a separate problem from reporting. But then again, I'm not familiar with all the new ID Theft rules.

How can I even prove that it's fraud at this point? I've left it on my CR for years now and lived on cash. I'm just waiting for it to fall off.

[direred]

You don't have to, really, you can just demonstrate that you were a minor.

[neil5623]

A minor does not have legal capacity to enter into a contract. A contract by a minor is not necessarily VOID, but it is voidABLE by the minor ONLY. Appears you have two angles to pursue: you were a minor when these accounts were opened, and they were opened by another person.