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Helpmewcredit101

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Old Auto Debt - CO
I have tried to research but finding multiple answers so if anyone can give me advice I'd appreciate it. My ex-husband's auto loan is showing charged off (close date 2011) on my credit which I understand however they sold the debt in 2014 so the last pymt date is 2014. I am being told by original lender that it will not be removed from my credit until 7 years from LAST PYMT date even if the last pymt was actually made by the buying lender. Is that correct?

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Top Contributor
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What this person told you is not only incorrect but illegal as well. Your best bet to figure out what is going on is to contact the credit bureaus and ask them the date that this account is slated to be removed. The seven years start time is the DOFD (date of first delinquency) and that date would have been before the original account was closed. See what date the credit bureaus tell you (should be within a year I would guess). If any of the other funny business continues on, then you should speak to an FDCPA attorney and then you might find that you should sue.

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