Sign in to follow this  
grantjeffries

Will the Real DOLA Please Stand Up

Recommended Posts

I have a different charge off dates on EQ, TU & EX for an older unpaid CC charge off a Collection Agency is contacting me about. The dates differ by more than a year. How can I tell which one is correct? How does one take steps to find out? The difference is important because it may determine whether it is in SOL or not. Should I risk a call to the OC?

Here is how the 3 are reporting DOLA...it is not the same.

Dola on EQ: Last Activity 01/1999 Date Reported: 10/1999

Dola on TU:Closed:06/1998>Status as of 06/1998: Charged off as bad debt<

Dola on EX:Charge Off as of 3-2000 This account is scheduled to continue on record until 7-2006. This item was verified and updated on 2-2002.

What the heck?!? It can mean the difference between a successful SOL defense and a JUDGEMENT! :x

Share this post


Link to post
Share on other sites

It looks like it depends on your SOL time. If it is 4 yrs I think your clear no matter which CR you use. On Experian use the date of removal minus seven years to compute when SOL clock started. (according to WhyChat)

Which one to use on a SOL letter, I don't know. I have the same situation. I haven't found anyone who could give me a definate answer. I even tried to contact the OC by telephone. After talking to someone who had no clue and she also trapped the my number, I decided the OC wasn't much help.

I think you have the proof in your CR. Maybe the earliest date. Someone reported closed or charged off on the earliest date. The others are probably status reports or reaging. I believe also once you raise the SOL defense in your answer on a summons the burden of proof goes to the plaintiff. Make sure, though, you raise this defense in your answer on the summons. There is some indication if you don't you may lose the opportunity to use this defense. Has the CA threaten to sue yet?

Check your state's code of civil procedures, to determine when the clock starts. That is where my research has taken me so far.

Since I am not a lawyer and I just started to research this a few weeks ago, please take my advice with a very fine grain of salt.

Share this post


Link to post
Share on other sites

It looks like it depends on your SOL time. If it is 4 yrs I think your clear no matter which CR you use. On Experian use the date of removal minus seven years to compute when SOL clock started. (according to WhyChat)

That can't be right, cause minus 7 years should only take you to the charge off date, not the date of last activity - that would be minus another 6 or so months depending on type of account.

Swede: Did you not say before that open accounts could be charged off at 90 days instead of 180? or is this still a choice of the creditor which formula they use?

And this still leaves him in the SOL, by all means. Cause we still have a question of which state is to be used in the final determination. State account was incurred in or the state of residence. One could be 4 years and the other could be 5 years in this case.

EQ: Last Activity 01/1999

This one would make the SOL 1/2004 at the latest.

TU: Closed:06/1998>Status as of 06/1998: Charge off

This one would make DOLA minus 6 months (this is just guessing on formula for charge off being 180 days) 12/1997 - and SOL 12/2002.

EX: Charge Off as of 3-2000 This account is scheduled to continue on record until 7-2006.

This I would say 7-2006 minus 7 years = 7/1999 for charge off minus 6 months (again assuming 180 formula for charge off) 1/1999 for DOLA. SOL 1/2004.

This is just a guess looking at this, give or take a year for which state they would default here. And give and take for proper formula used for figuring charge off.

Please correct me if I am wrong on this, Thanks

Share this post


Link to post
Share on other sites

funny thing about the title of this thread...

i am planning a hawaiian luau party at work and was looking for family oriented videos pretaining to the theme... when i stumbled upon the brady bunch does hawaii episodes. later i found out that no episodes beyond the 3rd season exist for purchase... but one episode that columbia or paramount sold on video is "will the real jan brady please stand up?"

now i am wondering if eminem got the idea for his song from one of these reruns off nick at night or something.

or i could be late as usual and everyone else but me caught on to that 5 years ago or whenever that song was released...wow i'm babbling.

Share this post


Link to post
Share on other sites

kb9, I believe you are right. But the point I was trying to make, and I think GrantJefferies, is, what date do we put in the answer to summons or SOL letters. When I look at my credit reports I have so many to choose from. The only evidence I have right now is my credit report. And we know how accurate they are. :wink:

I believe in California it starts from the date of last payment on a mutal, open and current account. So do I hold up my cancelled check in front of a judge and say, 'your honor this is my last payment?' or do I show the judge my three credit reports and say 'I know this is confusing, but if subtract this number from that number, then you multiply all these number together and divide by three, that's when the SOL started. :shock:

Share this post


Link to post
Share on other sites
Guest
This topic is now closed to further replies.
Sign in to follow this