Darth Rage Posted July 23, 2006 Report Share Posted July 23, 2006 Can anyone enlighten me?if my oc (Chevy chase bank (Auto loan, reposession)) Entry is due to drop off on 5/2007 (default started 11-1999,no payments or arangements were ever made after i stopped paying, Vehicle repoed 2/2000)then shouldnt all of the collection agencies (Portfolio Recovery Associates)entries also drop off at that time?If this is true, and the collection agencies still report to the CRA After 5/2007 is this a violation? and if so where is the federal law stating so? I have been scanning the FCRA And the FCDPA And can't seem to find it. It Is my understanding that debts never go away, however the CRA Can't report negative info for more than 7 years+180 days from the point of default. and a states S.O.L. Protects consumers against suits, providing the judge acknowledges the S.O.L. Link to comment Share on other sites More sharing options...
newbie7069 Posted July 23, 2006 Report Share Posted July 23, 2006 Look more closely at FCRA Section 605. It clearly spells it out.You will want to keep copy of your CR showing the OC DOLA/DOFMD to contest the CA listings as they will try to reage.Are you sure about the drop-off date? All my TU TL don't add the 180 days, you may want to call them and request what they are listing as the DOFMD--you can then dispute based on that, if they aren't reporting it as 11/99. It's so close to drop off anyway, you will likely not have any trouble with your disputes. My time-barred accounts that had been reaged were by far the easiest things to get off. Link to comment Share on other sites More sharing options...
Darth Rage Posted July 23, 2006 Author Report Share Posted July 23, 2006 Thanks NewbieAfter reading the fcra/fdcpa for any length of time my brain starts shutting down. i think i will let things go for now. no need to stir up a hornets nest since I am so close to the end. however i would love to see Asset management take enough rope to proverbially hang themselves How do we prove the DOLA? Or last payment? Do we only have the word of the OC To go by? Link to comment Share on other sites More sharing options...
newbie7069 Posted July 23, 2006 Report Share Posted July 23, 2006 If you still have all the paperwork regarding the car and the repo, you can use that.The CA is supposed to be using the information provided to them by the OC.If you know that 11/99 is right, and you can back it up, I'd go ahead and go after them. Especially is you are out of SOL. But I understand, the temptation to wait. I'm down to my last 2 baddies, both with DOLA around 5/02----I'm sitting on my hands waiting until next month just to be on the safe side (was originally in 4 yr SOL, now I'm in a 3 yr).After reading the fcra/fdcpa for any length of time my brain starts shutting downI know how you feel:p Link to comment Share on other sites More sharing options...
GreatGadsby Posted July 23, 2006 Report Share Posted July 23, 2006 FCRA 605 [15 USC 1681c](a) 'no CRA may make any consumer report containing......accounts placed for collection or charges to profit and loss which antedate the report by more than seven years.'605©'the 7 year period shall begin......upon the expiration of the 180 day period beginning on the date of the commencement of the delinquency' (which was never current again)slight paraphrasing, but you get the idea. Link to comment Share on other sites More sharing options...
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