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Asking for an opinion re" CC's record-keeping


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I had an old account with First Premier. It was opened in 02/00 but doesn't start reporting until 05/00. Funny thing is, the account shows me as 180 days late in 10/01 but reports the charge-off in 04/02. To the best of my knowledge this card was charged off in 2000(that same year). I recently disputed it and it came back as verified(updated). Do any of you have an opinion on how long records are kept with these people? Do I now request a paper trail from First Premier?

Thanks in advance

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First Premier will have records, but it should fall off this year anyway. What does your credit report list as the FCRA compliance date?

It doesn't list a compliance date. The only date listed is the "date opened" and that is 02/2000. My concern is that it has me listed as 30,60,90,120,150and 180 days late from 05/00 to a charge-off in 04/02. There are a few months in between being reported as "ok". Problem is, I don't remember making any payments in between. It's funny but Feb/02 and March/02 are reported as "ok" but April/02 is a charge-off. What I was wanting to know is can I request documentation from them to ensure accurate reporting?

Thanks

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Federal compliance requirements say that the card company must maintain the records on the account for life of the account plus 10 years. The records may be in the form of microfische or optical data, and is likely stored off-site by now. But as others said, they will have it...they may put up a fuss about having to retrieve it though. Average off-site delivery charges to retrieve stored material is about $55 per box (and they'll have to pull the entire box) and another $20 to return the box to storage.

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  • 2 weeks later...
Federal compliance requirements say that the card company must maintain the records on the account for life of the account plus 10 years. The records may be in the form of microfische or optical data, and is likely stored off-site by now. But as others said, they will have it...they may put up a fuss about having to retrieve it though. Average off-site delivery charges to retrieve stored material is about $55 per box (and they'll have to pull the entire box) and another $20 to return the box to storage.

Thanks to all for the replies:) So my next question is........... Do you think First Premier would rather delete the old info (since it does date back to 2000) than search their archives for the paper trail? Experian did validate in just under four days!:roll:

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Do you think First Premier would rather delete the old info (since it does date back to 2000) than search their archives for the paper trail?

See...the thing is...its the process. That's somebody's job, and they've got the manual that the committe wrote that tells them how to do it. They're not allowed to make choices...

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See...the thing is...its the process. That's somebody's job, and they've got the manual that the committe wrote that tells them how to do it. They're not allowed to make choices...

Got It! I think somebody's not reading the manual LOL

FP updated to Experian on 01/01/07 as a paid charge-off.

They update to Eqifax on 01/01/07 as a "bad debt/placed for collection"

These people are making me pull my hair out.

Another thing that just came to mind is the fact that they placed the info on my hubby's CR even though it was an individual account in my name only. FP said that since we were married, we incurred the same debt so we were both responsible for it. Any thoughts?

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