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tobias6k

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charged off in 2008 closed in 2015?
double hit to my fico score!! Wells Fargo car loan I co-signed on with my ex went bad in 2007 and was charged off in 2008. I've been perfect after that (divorce...) and got my score over 700 woot!!! But now seven years after it was charged off they descide to mark it as closed. My fico scores took a huge 60 pt hit. So now I while I was hoping this thing to roll of my account in a few months I have to wait another seven years? I'm begining to think that this whole fico score buisness is a load a bunk and I will never get a good score again... Is this even legal??

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The 7 years will not start over!! They just updated the account when they marked it as closed and the update made the charge off look fresh with Fico scoring and that caused your score to drop. If you are within a few months or even within 6 months of the 7 year mark, which I am sure that you currently are, contact the credit bureaus and ask for an EARLY EXCLUSION on the account. Do some googling to learn all about Early Exclusion.

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