Didn't they wrongfully "re-aged" the account?

[defeatCA]

Hi,

Although the issue should be solved (OC ordered CA to remove account, I already posted before), I do have a general question:

Isn't there a limitation on how long a negative collection-account can be reported (7 years?)? Although this account is new, I was thinking to myself that it might also be important what date is mentioned on the credit-report:

Date Opened: 01/31/2005

Date Reported: 08/02/2005

The "Service-Date" of this Emergency-Incident was 07/01/2004 and the "Original Bill Date" was 07/08/2004. The CA sent me a letter stating the "Last Payment Date" as 08/02/2004 (what's that?) and the "Promise to pay" (whatever that means?) listed by the Emergency Service was 11/28/2004, so all theses dates/due-dates were back in 2004.

All entries in the credit-report (as shown above) appear as 2005. Isn't that a FCRA-VIOLATION since I thought that the 7-year period starts with the last transaction or when you fall behind on an account and not when an account is passed to a CA (otherwise, such a CA could stay on your report forever since the CAs could sell those debts without any limitations...)??

Thanks in advance for any comments!!

[defeatCA]

UUUPS, I think I forgot the 180 days, right? So the 7 years are actually 7 1/2 years...

[Robert Nashville/Savannah]

I believe that negative information can stay on your history for 7 1/2 years from the date of last activity; generall, the date it first became past due...or, if you do pay it, then the DOLA is the date you pay it.

They can report other dates, so long as they are accurate, such as when the account was assigned to a CA, etc, but the key date is the DOLA and you need to make sure it is accurately reported (or get it removed if it's inaccurate and they won't correct it).

Hope that helps.

[Leadhead]

It's 7 years from the date of first delinquency, not DOLA.

© Running of Reporting Period

(1) In general. The 7-year period referred to in paragraphs (4) and (6)

3 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.

[defeatCA]

Thanks, folks! So is it:

A) Date when it becamce delinquent + 7 years

or

Date when it became delinquent + 180 DAYS + 7 years???

That would be interesting to know....

[LadynRed]

Typically the date it became delinquent was 30 days after the last payment. That would be the 'date of first delinquency' if you never paid on the account again. That DOFD starts the reporting period. The DOFD MUST be reported by the creditor per the FCRA as it establishes the 'date certain' which is used to calculate the reporting period.

From that date, its +180 days + 7 years.

Essentially its 7 years from charge-off, but that is not a certainty because some creditors will charge-off BEFORE the 180 days.

[jimbob]

I have found that it usually runs from the date of the first delinquency that leads to a chargeoff. It'd been that way for me.

I suggest going to the Experian site and look at the "Ask Max Credit advice" section about deleting dates. It is interesting!

[defeatCA]

Thanks, let's see if I got that right:

If the account became delinquent in 2004, the entry in the Credit-reports do have to show 2004 and not only the date when the account was assigned to the CA.