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Old debt need suggestions on what to do next please?


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New here, been reading the forum for 3 days, but just registered today. Lots of great info, even though it is very confusing for me right now. I live in TX, and have credit problems because of DH being laid off this past year. I am trying to see what can be done at this point to correct some problems.

This is odd. I pulled all 3 or my CR a few days ago. In 1995, I applied for and got a Radioshack store credit card. I was young, stupid, and never paid a penny on the account although I ran up the card. Hindsight=20/20 yes. Anyway, my Equifax credit report is the only one that shows this account, and lists the following:

Date Opened: 95/05/1 I am assuming this is 1/5/95, correct? It seems to be the correct time, although I no longer have records on this account.

Date Reported: 06/2004

Date of Last Payment:

Date Major Delinquency First Reported: 02/2004

Charge Off Amount: $903

Date Closed:

Current Status: CHARGE-OFF

High Credit: $0

Balance: $903

Amount Past Due: $237

Date of Last Activity: 01/1999

Comments: First payment never received

First off, should this even be on my credit report? I have gathered so far from what I have read that it should not. But want to make sure I completely understand.

Secondly, what is my next step. I have already disputed the account with Equifax as of 4/5/2005. Do I wait before I do anything else?

I have a question on another TL on my CR, but will wait to see what else I find out on my own before asking here.

Thanks in advance for any and all help!


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Hi and welcome.

Sounds like somebody bought the old debt and is reporting the new information.

The new information being reported is incorrect and illegal for them claim (it's called re-aging). The DOLA (Date of Last Activity) was not in 1999.

Who is listing this information?

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Correct. Radio Shack credit cards are issed by CITI.

Here's the deal:

The card was opened in January 1995. Your first payment was due in February, it first went 30 days late in March, the account by law had to be charged off by August 1995.

They re-aged the account by 4 years (probably to bring it back into SOL) making it look like they just charged off the account. That is illegal. It is also a very common tactic for both OC's and CA's.

Now... charge offs remain on your report for 7 years plus 180 days from when you first miss a payment (the 180 days accounts for 30-60-90-120-150-180 days late). So, the account should have dropped off your records in August 2002.

CITI reages the account by 4 years making it remain in your file illegally until August 2006.

Dispute the info with EQ and see if CITI verifies the false info. Do your research and be ready to write CITI a letter demanding they immediately remove the negative information or face litigation...

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  • 5 weeks later...

I am replying to this thread because the original posters

situation are pretty much identical to mine... the dates

are even very close.

I am trying to figure out what to do about this one.

I take it that CITI is a OC and therefore does not need to respond to the

standard DV letter?

Is there a different standard form letter I should send for information to a OC?

Like the original poster my account was reaged. This should have

been off my record by SOL years ago.



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There may be one thing that I can use to my advantage..

After I received the results of the dispute with EQ I sent a certified

DV letter.

EQ had two addresses listed... the one that shows on the report, and on the dispute result letter had a second address and says

If you have additional questions about this item please contact

SPS/Radio Shack, 811 E 10th St., Sioux Falls SD 57103-1647

Tonight I did a USPS tracking of the DV I sent and got this,

Your item was returned to the sender on May 05, 2005 because the forwarding order for this address is no longer valid.

So EQ gave me a bad address to inquire to.

Should I send another DV to the first address listed on my credit report,

or just tell EQ that I was unable to verify via the address they gave me?




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