Best method to dispute re-aging

[CreditDiva]

I have an acct that was charged off by OC, 9/98..I was going to wait for it to just drop off, however I noticed that is now is showing up as last activity with 1/2003 date..my old credit reports show DOLA of 9/98,and I have never heard from the CA..my old credit reports show the 9/98 date is it enough to send the CRA the old copies reflecting the original date?

[devil21]

When disputing any re-aging, simply CMRRR a letter to the respective CRAs and include a redacted copy of your previous credit report showing a different payment history, DOFD, DOLA, or whatever it is you are basing your re-aging accusation on.

If you do NOT have any hard evidence of re-aging but you suspect it, contact the OC for a statement of last payment date. Some will do it, some won't.

[aints68]

If you ask for a copy of last statement and don't receive it, do you have any other options. BH has a similar problem. We can get bank records to show no checks written to them, but I guess they could always claim money order. If they refuse to honor your request, can you legally threaten to sue if they don't comply?

[LadynRed]

Sorry, but you cannot allege re-aging based on the DOLA. That date is NOT the date that determines the start of the reporting period - it is the date of delinquency that preceeds placement for collection:

© Running of reporting period.

(1) In general. The 7-year period referred to in paragraphs (4) and (6)2 of subsection (a) shall begin, with respect to any delinquent account that is placed for collection (internally or by referral to a third party, whichever is earlier), charged to profit and loss, or subjected to any similar action, upon the expiration of the 180-day period beginning on the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action.

(2) Effective date. Paragraph (1) shall apply only to items of information added to the file of a consumer on or after the date that is 455 days after the date.

The problem is, that most of the CRA's do NOT report this delinquency date, the date the OC is REQUIRED to report, you have to call the CRA's to get that date.

In the FTC Staff Opinion in the FCRA, the Amason letter:

1. What reporting limits does the FCRA provide with respect to chargeoffs, and how long have they been in effect?

Section 605(a)(4), which has been in effect since the FCRA became effective in April 1971, has always prohibited CRAs from reporting chargeoffs that are more than seven years old.(1) Section 623(a)(5), which became law in September 1997, requires a creditor that reports a chargeoff to a CRA to notify the agency (within 90 days of reporting the account) of "the month and year of the commencement of the delinquency that immediately preceded" the chargeoff. Section 605©(1) provides that the seven year period begins 180 days from that date. Both provisions were part of the major revision to the FCRA that were enacted in 1996.(2)

[flythai834]

lady in red,

what happens when you contact the cra's and they cannot give you a date?

[aints68]

Also, what do you do if what the OC is doing is reporting monthly payments 2 years after the date you know that you stopped? The 24 month reporting history is showing payments that were never made.

[HeartRN]

If you ask for a copy of last statement and don't receive it, do you have any other options. BH has a similar problem. We can get bank records to show no checks written to them, but I guess they could always claim money order. If they refuse to honor your request, can you legally threaten to sue if they don't comply?

Sorry to be off topic, but curiosity is killing me....what is BH?

[aints68]

Sorry, BH is my "better half" (we're not married ...yet)

[divemedic]

Actually, since FICO uses that date as the date to determine the age of a neg, I have used that date in a suit. EQ has an entry in the TL that reads "date of first delinquency" but it often reads N/A or is just blank.

[Guest]

And Equifax states ON THEIR WEBSITE.. that a negative entry can stay on your report for 7 years FROM THE DATE OF LAST ACTIVITY.

Read it and weep

https://www.ai.equifax.com/CreditInvestigation/jsp/faq.jsp#faq1

Credit Accounts

Accounts paid as agreed remain for up to 10 years.

Accounts not paid as agreed remain for 7 years.

Collection Accounts

Remain for 7 years.

The time periods listed above are measured from the date in your Credit Report shown in the DATE OF LAST ACTIVITY field accompanying the particular credit or collection account.

Courthouse Records Remain for 7 years from date filed except:

Bankruptcy-Chapters 7 & 11 remain 10 years from DATE FILED.

Bankruptcy-Chapter 13 non-dismissed or open remain 10 years from DATE FILED.

Unpaid Tax Liens remain INDEFINITELY.

Paid Tax Liens remain up to 7 years from the DATE RELEASED.

California State Residents Only: Unpaid Tax Liens remain 10 years from DATE FILED

[devil21]

When I referred to DOLA, I meant that there can be some absurd entry in that field that would show theres no way the account should be listed. If a JDB says DOFD is 3/2003 but DOLA is 5/1997, that 5/1997 shows its outside of reporting SOL.