hawk3254 Posted October 15, 2004 Report Share Posted October 15, 2004 Ok, got a quick question for you experts. I have Aset saying I owe them $9k and $7k.says dated opened is in 2002. Now , I know these charged off in 2000 from the OC. Being in California, the 4 year rule, its out of SOL. So are they reporting wrong saying 2002 ?? So is my time frame 7 years from 2002 or in 2007 since it was charged off in 2000 ?thanks ! Link to comment Share on other sites More sharing options...
willingtocope Posted October 15, 2004 Report Share Posted October 15, 2004 Do some more research here. If the debt was charged off in 2000...and...the DOLA was prior to that, then yes indeed the debt should be past the SOL in California (I think). And, if the CA has reaged it to 2002 and is trying to collect on a time-barred debt in CA, then they're in some really deep dodah...its a felony to collect on a SOL debt in CA (I think).So...bottom line...I think you got these guys by the short hairs and not only can you sue for violations of the FCRA but you might get the state attorney interested in going after them on charges...Again...I suggest researching what I've just said throughly...my memory tends to flip on and off... Link to comment Share on other sites More sharing options...
willingtocope Posted October 15, 2004 Report Share Posted October 15, 2004 Oh...and the 7 year rule applies to things falling off your credit report. Which if they're reporting on your CR, then that's further proof for your suits and all. Link to comment Share on other sites More sharing options...
baglady Posted October 15, 2004 Report Share Posted October 15, 2004 Is this what's on your credit report? If so, it could be the date they bought them. You could call the CRA's to find out when they'res due to fall off your reports. It should be in 2007. If it's 2009 then Asset reaged them. If you've never disputed with the CRA's, you might try to dispute them as "not mine" first. Maybe you'll get lucky & have them deleted Link to comment Share on other sites More sharing options...
LadynRed Posted October 15, 2004 Report Share Posted October 15, 2004 "Date opened" is NOT re-aging and it has NOTHING to do with the SOL OR the reporting period. "Date opened" is the date that ASSet bought your account - nothing more. The SOL is based on the date of 1st delinquency preceeding charge-off. Link to comment Share on other sites More sharing options...
willingtocope Posted October 15, 2004 Report Share Posted October 15, 2004 Okay...so as usual, I'm confused.hawk: When you say "I've got Aset saying", do you mean you've got a collection letter from these guys, or its on your credit report? If you got a letter, then what I said was right. If its just on your CR, then...LadyNRed: Okay, so Asset opened the account in 2002. Does that mean that creditors can keep derogs on your CR by just selling it to a new CA every couple of years? Link to comment Share on other sites More sharing options...
willingtocope Posted October 17, 2004 Report Share Posted October 17, 2004 Guys? Link to comment Share on other sites More sharing options...
retmar Posted October 18, 2004 Report Share Posted October 18, 2004 The date showing in "Date Opened" should represent the date A$$et purchased the debt. The "Date Reported" should represent the date A$$et first reported the TL. The SOL will be 4 yrs from date of first delinquency, as LadynRed stated. If you have a copy of your EX, and A$$ET is reporting, it should say in the right hand column when the TL will be removed. It should show the year 2007 as that is 7 years from delinquency. If it shows 2009, then A$$et is in violation.As was mentioned, it is illegal to continue collection activity on a timebarred debt in California. As to being a Felony, this will only apply if they sued the consumer. A$$et claims, and Michigan agrees, that they are now the OC and the FDCPA does not apply to them. Let them try it here. Link to comment Share on other sites More sharing options...
LadynRed Posted October 19, 2004 Report Share Posted October 19, 2004 LadyNRed: Okay, so Asset opened the account in 2002. Does that mean that creditors can keep derogs on your CR by just selling it to a new CA every couple of years?Absolutely NOT ! Collections cannot survive the obsolescence of the ORIGINAL debt. So if the account went delinquent in 2000 and charged-off in 2000, then the reporting period began when it went bad in 2000 and was subsequently charged-off. The DOLA should reflect the LAST payment (or charge) on the account, the 1st delinquency would be 30 days later and the start of the reporting period and the legal SOL. As long as the CA doesn't report a DIFFERENT DOLA, they are within the law. Its when they CHANGE that date that its illegally re-aged. Link to comment Share on other sites More sharing options...
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