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Question By
LoisLane17

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0 People Helped
14 years instead of 7 - closed as derogatory?
Hoping someone can help me understand this. I found this on my report that was opened in 2008 and closed as derogatory - charged off as bad debt in 2015. Why is it still on my report, and will it remain for another 7 years past 2015?

Last Reported Mar 31, 2017
Creditor Name VERIZON
Account Type Telecommunications / Cellular
Account Status Closed - Derogatory
Opened Date Jul 17, 2008
Closed Date Oct 31, 2015
Limit --
Term --
Monthly Payment $0
Responsibility Individual
Balance $89
Highest Balance $89
Payment Status Collection/Charge-Off
Worst Payment Status Unknown
Date of Last Payment --
Amount Past Due $89
Times 30/60/90 Days Late 0/0/0
Remarks Charged off as bad debt
Profit and loss write-off

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Top Contributor
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The seven years does not start from the open date. It starts from the DOFD (date of first deliquency). This is one month after you made the last payment on the account before it went deliquent. You might want to do some reading on "pay for delete agreements" but I am not sure if Verizon will do them, that is something that you will have to research. If you are in doubt of when this will fall off, you can contact the credit bureaus listing the account and ask when it is scheduled to be removed, but I would expect that it is scheduled to be on your reports for a while to come.

Reply by
LoisLane17

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0 People Helped

hmm... I haven't had verizon since at least 2010. I cancelled my service around the time the HTC evo was released, and I switched to sprint. So it may not be too much longer. I will contact the credit bureaus. Thank you!

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