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Reaged debt...next step


areneeh
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I have some paid charge offs from 2002. While starting on my credit repair journey, I submitted letters to the Credit Bureau's and to this specific CA (who has two paid charge offs). The credit bureau confirmed that it was accurate and the CA sent me a letter stating that I did respond within the 30 days after receiving their letter in 2002 and that this account was paid in 2002. I am currently applying for a mortgage and my mortgage company sent me a copy of a credit report that has the Date of Last activity from each credit bureau (I am also a subscriber to True Credit). According to True Credit, this is a charge off as of 4/2006 and accourding to the DOLA from the mortgage company's credit report, the last activity is 4/2006. This was paid in 2002 and there has been NO ACTIVITY on this account as far as payments.

My question is...who gets the letter stating that they re-aged this account and that it should be immediately removed? I would guess that it would be the Credit Bureau.

Thank you all for any assistance.

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The credit bureaus report what they are told...they have no records to know when a DOLA was. That’s why it's often possible to get something removed form your reports temporarily but the item shows back up the next time the reporter reports!

I would not count on getting this removed...more likely they'll correct and continue to report.

However, to get something done, you are probably going to need to provide some evidence of when the DOLA was. You can and should dispute through the bureaus, but your primary fight is with the creditor doing the reporting.

There are threads and sample letters of the process on this site...IMHO, it's more a matter of persistence and patience than it is of actual facts. :)

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The letter would be sent to the furnisher of information.The CA gave you evidence of DOLA with the letter they sent. Hopefully, you still have a copy of it.

However, don't think that one letter will make this go away. It may take several disputes with the CRA (sending the aforementioned evidence as well) or suing whomever furnished the information. Either way, it will take time.

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The date of last activity is NOT the KEY date for re-aging or for determining the reporting period. While the credit bureaus may lead you to believe that it is, that is not what the FCRA says.

The reporting period is determined by the DATE OF FIRST DELINQUENCY and this DOFD is the only date that the FCRA REQUIRES a creditor to report within 90 days of the delinquency. Not even paying an old charge-off can change that original delinquency date. THAT is illegal re-aging.

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