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CA call after CRA dispute


angela_natalia
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So DH and I sent in dispute letters 2 weeks ago to all CRAs. This morning, I wake up to DH arguing with someone over the phone. First Resolution Investments made the call.

A background on what he was calling about:

DH's Citibank CC. Date Open: 04-2000. High limit $1470.00. CA is charging $3133.00 AND reporting DATE OPEN on CA TL as 04 of 2006! I don't see date of last activity on CR but DH said had it for less than 1 year and stopped making pymts. So, if default date was say, 04-2001, SOL is over anyway. Missouri SOL for open-ended accts is 5 years.

Back to phone call:

CA had just finished terrorizing DH by telling him they are going to take legal action on him if he doesn't agree to pay up. When he mentioned SOL, CA said SOL on acct was not until 2011. It seems they are going off the account date opened with CA. So I grabbed the phone by this time, yell at the guy to shut up and let me talk since he phoned my home. Spouted off the SOL starts when you first default with OC, not when CA purchases the WO pennies on the $, and that they had nothing to go after. I might have thrown in something along the lines of CAs being the worst scum of the earth and to never call again because they're just gonna get hung up on. Needless to say, he never got a word in and hasn't called back yet.

Any takes on this scenario? Was the SOL I spouted off right? Does it actually go from when you defaulted on OC? Or was I just talking out of my bum.... Hehehe. Also how can they report date open as 04-2006. Are they re-aging the acct? Any advice would be great! I was going to send in DV to CAs after I get CRA investigation results but come to think of it, I might start now to get them off our backs.

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For CAs, "Date Opened" is just the date they bought the account. It has nothing to do w/ re-aging.

Actually it does. Any CA or debt buyer that obtains an account does not get a new starting date. The default date remains the same and the SoL and bureau reporting remain unchanged.

By example: You default in 4/2001 with an SoL of 5 years. That means it is legally uncollectable on 5/2006 (5 years) and it cannot be reported on a credit report after 10/2008 (7.5 years).

In the above problem, the CA, by reporting an account date of 4/2006 (and open), is trying to illegally make it stick on the credit report until 10/2012.

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What the CA does is report "Date Assigned" which also happens to be the date that FICO uses to calculate your score. I have a very old account (6+ years) that is reporting with a date assigned of 01/06 and a DOFD of 4/00. FICO states "You have a collection that was assigned 4 months ago..."

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Being that the DOFD is the date used to determine when a negative account will fall from one's report, what does "Date Opened" have to do w/ it? I can see how it affects FICO (which sucks), but not when it will fall from a report. From what I understand, the "Date Opened" can be whatever date they want, but as long as the CA doesn't illegal change the DOFD, then the item will still fall from a report 7yrs from the DOFD, not "Date Opened". Technically, when a JDB purchases an account, the date opened is the date that they opened their account, giving it a new #, for the debt they purchased. I don't see how that is wrong or why that would cause a TL to drop from a report later.

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