wolfpup Posted December 10, 2004 Report Share Posted December 10, 2004 I had a repossesion in 97 - i had been deliquent for at least a year before that. i dont remember all the dates, but i do know i got the car in 94 and i am sure i didnt even pay for 2 years on it (i was young and dumb!). The account was sold / transferred to Bank of AMerica and it shows on my credit report that it has been reported since july of 2001. It does show a $0 balance - but if this was deliquient in 96 - can BofA show this from 2001? And would that put the new SOL to be 2008?Also - how long for a student loan that was a paid collection to fall off?Any advice would be greatly appreciated!Thank you!Shannon Link to comment Share on other sites More sharing options...
luckyduck Posted December 11, 2004 Report Share Posted December 11, 2004 It can be reported for 7 years +180 days from the date that the delinquency began. So, if your first missed payment was prior to 6/1997, then it should not be on your report at all. Send a DV, and get the exact DOLA on the account. If it is over 7yr180d, write them an ITS for re-aging the debt, (misrepresenting the status of the debt), in violation of FDCPA, and demand that they delete, and cease and desist from all collection activity, and for S&G request a check for $1000.Dispute with the bureaus. If it comes back verified, do a PR, and if CA verified without validating, sue them. Basically if you are dealing with a re-ager, it is unlikely that they have any regard for the law, and your threats may not work. If that's the case, you have no choice but to take court action, after exhausting the DV, dispute, and ITS route. Link to comment Share on other sites More sharing options...
wolfpup Posted December 13, 2004 Author Report Share Posted December 13, 2004 i am just worried that they will be able to sue for me for it. It isnt a ca that still has it listed, it is Bank of AMerica. I think they have because they bought out the OC - a smaller bank. Would the DOL be changed if they bought in 2002? And if the CRA brings it back as verified, do i then go after the bank for verifying it???Sorry - just want to make sure that i fully understand before i check into all this. Link to comment Share on other sites More sharing options...
wolfpup Posted December 13, 2004 Author Report Share Posted December 13, 2004 one more question - will this go under the laws of Arkansas (where i signed the loan contract or where ever Bank of America is? Link to comment Share on other sites More sharing options...
luckyduck Posted December 13, 2004 Report Share Posted December 13, 2004 If any legal action were to be taken against you it could be taken in the state where you signed the contract or the state where you reside. If you are the one taking the action, you would take action in your current state, and your new state's laws as well as federal laws would apply.If BoA bought out the OC then BoA is now the OC. However, the DOLA never changes. If they changed the DOLA, they are in violation of FCRA. You need to dispute it with the bureaus, and should still try to do a DV. At least get some documentation showing when the account went delinquent. If the item comes back verified, and you are sucessful in getting the documentation, you can send that to the CRAs and it should be enough. If it isn't removed with that, you can go after the CRAs. If BoA won't give you the documentation, and they verify the account and you are 100% sure of the DOLA being that old, then you could go after BoA. It's very difficult to prove your case without documentation, and very unlikely you will get documentation for that very reason.Basically, just keep fighting with both BoA and the CRAs. Dispute, dispute, dispute. Demand proof. Threaten with lawsuits, and if nothing happens within a reasonable time limit, starting filing suit. It may be the only thing that will work. BoA is not subject to FDCPA, since they legally own the debt by way of company purchase, not debt purchase. Link to comment Share on other sites More sharing options...
wolfpup Posted December 13, 2004 Author Report Share Posted December 13, 2004 thank you so much for the info! is there a DV template letter that would be good for me to use for this scenario? I truly appreciate all the wonderful advice!Thank you thank you! Link to comment Share on other sites More sharing options...
luckyduck Posted December 13, 2004 Report Share Posted December 13, 2004 There are template letters all over the place. just do a search.Your main concern is the DOLA. So, send them a letter telling them that you found this entry on your credit report. You have no idea what it is, because you never had an account with them, and didn't have an account opened with anyone on XX/20XX for that amount. You wonder if this might be a mix up.Let them know that you are eager to cooperate with them and take care of this debt, but that before taking any steps in that direction, you need proof that this is your debt, and that the amount is correct.In order to prove this is your debt, they need to send something with your signature. In order to prove the amount is correct, they need to send a transaction history. You will be able to get your DOLA from that history.Don't threaten them with anything. Be nice, and tell them you want to pay this bill if it is yours. Maybe you just forgot it, etc... If you are nice, they won't know your real reason for wanting it, and are more likely to send it (if they have it). Ask them to respond within 30 days, and if they don't respond send them another letter, telling them that you really need to get this taken care of, because it's hurting your credit and you don't know what it is. If no response to second letter, assume they don't have the documentation and send them an ITS for reporting false and inaccurate information, and continuing to report the false information after being fully aware that the information was false. You've given them two chances to prove this debt is yours, and they haven't so it must be false, and they need to remove it. In the meantime throughout this process dispute it with the CRAs, and maybe, it will just come off. Link to comment Share on other sites More sharing options...
Rich Posted December 13, 2004 Report Share Posted December 13, 2004 Here is something I don't fully understand. Why would it be incumbant upon the defendant to "get documentation of DOLA"? Isn't the burden of proof on the plaintiff? I believe it's difficult to find any of your payment information if the account in question is several years old. Also, for example, I could have been making current payments, then stopped and had the account status reach delinquency, and then make a payment to the account which would restart the clock for SOL. I could then use the first delinquency as the basis for my SOL argument, but would be in trouble if the plaintiff produced payment info after that date. Conversely the plaintiff can at most legally produce my last payment info. So, shouldn't the plaintiff be charged with verifying DOLA to make thier case? Link to comment Share on other sites More sharing options...
luckyduck Posted December 13, 2004 Report Share Posted December 13, 2004 The OP would be the plaintiff and would carry the burden of proof if he has to take legal action against the OC for re-aging.He doesn't have the proof, and thus would have no case. He doesn't even know the DOLA, let alone could he prove it. If he wanted to take it straight to court, he could, but it's hard to make a claim when you don't know the facts of the case.Maybe I think a bit differently. Yes, he might be able to go straight to court and win. But it makes a much stronger case to try to settle things amicably before going to court. And it makes a person look like a complete idiot to go to court with no knowledge of the facts of the case. Link to comment Share on other sites More sharing options...
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