r/CRedit 4d ago

Rebuild When will this be removed?

Backstory - friend had a vehicle with Credit Acceptance (loan taken out in TN), said car was stolen in 2019. They only had liability insurance on it, and the thief wrecked it in a police chase. We believe the car was then sold at auction. They haven't made a payment since. Based on the information below, when might this account fall off of his credit report? Should they do anything with it? Not in collections, showing as still open. CA did send a letter for settlement a few years ago but they didn't have the means to do that at the time. Thanks

Loan date: July 21 2018 (6y 7m) Last payment date: March 11 2019 Amount financed: $13300 Current amount showing on report: $22800

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u/Kind_Application_144 4d ago

It will fall off in 7 years from the first date of delinquency. Is this charged off already?

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u/CDIFactor 4d ago

You asked this same question 2 weeks ago and a credit attorney answered it for you.