Is Trans Union Wrong about Charge-Offs???? Help!
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Posted by Jim (12.251.88.243) on March 27, 2002 at 18:10:14:
Does anyone know the actual legal standing on this issue: I had a Diners Club card that was charged off in September of 1994. I made no payments since and it has been on my credit as a 'Charge-Off' since that time. Using the sample letters provided by Linda, I sent a request to all 3 CRA's requesting the item be removed as it has been more than 7 years since it was charged-off and more than 7 yrs since the date of last activity/payment. Trans Union just sent me a letter that states:
"Adverse credit information is reported for seven years from the date of closing/Last Activity, or from the date of first delinquency. There is NO limit to the length of time an unpaid lien may be reported. Only paid liens remain on file seven years from the date paid." What should my next course of action be????
Someone please help
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