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ABSOLUTE FOOL PROOF WAY OF DOLA


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Hello there,

First of all excuse me for ALL CAPS. LOL

I am almost out of SOL on most of my accounts. I have TU and Experian Credit Reports with me. But it is not very clear to my as to which month the SOL expires.

I also subscribed to TrueCredit and MyFico.

I would like to know a reasonably good way of figuring out the DOLA before I wake up the sleeping giants. PLEASE HELP. :oops:

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Did you get an online copy of that report or a paper copy. You need the paper copy of your report. I have myfico online copies of my report that do not show info that my paper report does.

If the info is not on your paper copies, you could also call the CRA and ask them what is being reported. I have done that. It gave me a guide as to when the info would also fall off my report.

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mithina: Its the DOLA that appears on the OC's TL that governs and it doesn't matter if its a CA or JDB trying to collect.

But, if you've got a CA that NOT reporting a DOLA or if its different than the OC's, then they have committed and FCRA violation by not reporting accurate info.

You're wise to wait until you're sure the SOL is up before taking any further action, but as soon as it is, go after any of the CA's reporting incorrectly.

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It's not the DOLA that determines the 7 year reporting or the SOL, it's the date of first deliquency.

http://www.ftc.gov/os/statutes/fcra/harvey.htm

The legislative history indicates that Congress included the requirement of Section 623(a)(5) so that there would be a uniform date certain by which all consumer reporting agencies would compute the seven-year reporting period for adverse items of information. It was the intent that the seven year reporting period begin with the commencement of the delinquency rather than any other date.(2)

http://www.ftc.gov/os/statutes/fcra/amason.htm

2. Is the reporting period extended if (A) the original creditor sells or transfers the account to another creditor, (B) the consumer responds to post-chargeoff collection efforts by making a payment on the debt, or © the consumer disputes the account with a CRA? Does it matter whether the 7-year period has expired when any of these events occurs?

No. In enacting the new provisions discussed above, Congress intended to establish a date certain -- 180 days after the start of the delinquency that led to the chargeoff -- to begin the obsolescence period.

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