Yes, they did
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Posted by Marc
(66.232.37.3) on October 08, 2003 at 13:01:28:
In Reply to: credit card sol posted by please help on October 08, 2003 at 12:42:50:
You see, making a payment doesn't affect the date that it was last 30 days late, but defaulting once again, which you have done, resets the 7 year clock.
If you would have continued with the timely payments and not defaulted again, the date of 3/99 would have still been in effect with the come-off date of 3/06. But now, the come-off date will be counted from the last time you were late 5/03, which makes it 5/10.
Looks like you'll have to wait another seven years. Maybe you can get the account reinstated. Capital One did that for me on one of my cards. It was charged off and they agreed to reinstate the card as an open account, provided I pay timely. You should look into this, because you've got an entire 7 years till it's off your reports, and they may decide to sue, depending how high the balance is. If they do agree to reinstate, the charge off on your reports will be changed to open account, but the late dates will still show until 2010. But this is a lot better for your score than a charge off.
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