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tauz333

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Credit score went down
My Equiax score extensively went down. I had an account with GM financial which I have disputed through Credit Karma over a month ago. The account is almost 10 yrs old and it is still showing on my credit report. I have also disputed this account through Equifax also over 30 days ago. Nothing happened. Need help.

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The seven years doesn't start from the time that the original account was opened, the seven years starts from the DOFD (date of first delinquency) that led to the charge off on the original account. The DOFD is usually one month after you made your last payment on the original account. Look back and double check when the seven years should be up. (technically seven and one half years). If it really is beyond the seven and a half year mark (which I doubt that it is) contact a consumer law attorney.

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The reason that your scores have decreased is because you disputed the negative account and that caused the negative account to update and that looks like recent negative action to the scoring systems.

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Take the time to do some reading on this and all credit topics, it will be to your benefit.

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