r/CRedit • u/tuna_smells_awful • 9h ago
Collections & Charge Offs Need help figuring this out.
Alright so as you can see i have two collections one for 1211 and a 3nd for 3,073 (started off as 3,074)
I then got an update saying some of my collection had been paid off. They gave me a new total of 3,073 and said my cr would update in 19 days.
But im confused. Are they saying my 1211 was removed or is ir referring to my 2nd one since my 3,074 fell by a dollar?
Also, the one for 3,073 is from a loan in 2021. Will it fall off in 2028 or will it be 7 years from the date of collection?
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u/og-aliensfan ⭐️ Knowledgeable ⭐️ 8h ago
It appears as though the larger balance decreased by $1, which is what the alert states.
I don't see an alert that a collection was removed. What's the Date of First Delinquency and expected removal dates for the NCB collection? Note that NCB's policy is to remove themselves from your reports once the debt is settled.
The allowed reporting time as set by FCRA is based on Date of First Delinquency Charge-offs and collections can be reported up to 7.5 years from Date of First Delinquency with the original creditor (date of the first missed payment, without bringing the account current again, that immediately preceded charge-off), but are typically removed at the 7 year mark. If Date of First Delinquency was in 2021, it will be removed in 2028. Order your official reports for each bureau by calling 877 FACTACT (322-8228) or pull them online at www.annualcreditreport.com to see Date of First Delinquency and expected removal dates. What are those dates?
I recommend the mailed reports. These may be more accurate and detailed than the online reports, particularly if ACR directs you to a bureau's consumer facing CMS to view your report. If you do choose to pull reports online, print or save each to a pdf before moving on to the next as you can't go back once you exit a report. Despite its name, you can pull free reports for each bureau weekly.