wenry2004 Posted January 11, 2008 Report Share Posted January 11, 2008 I have a huge problem! I have noticed that on all of my reports I see balances from collection agencies changing hands. When they do they eliminate the actual TRUE date of last payment (charge offs) and the NEW date (the one which THEY put as the last payment date) is usually a few years AFTER the fact! This makes seven years from that new date the time frame in which I can remove it. They are very sneaky! Finding the original date is hard once its several agencies into it. What do I do? Desperate and FRUSTRATED!!!!! Link to comment Share on other sites More sharing options...
Amerikaner83 Posted January 11, 2008 Report Share Posted January 11, 2008 the DOLP has nothing to do with the 7 year reporting period...it's the DOFD (Date of First Delinquency) that the 7 yr reporting clock goes by. That date is given to the CRAs by the OC... Link to comment Share on other sites More sharing options...
kevin3344 Posted January 11, 2008 Report Share Posted January 11, 2008 Items may only remain 7 years from the DOFD even if they are sold. Just because you do not see the DOFD doesn't mean it's there (it's required by the FCRA). You can ignore the "Date Reported", "Last updated", "Status date" and all that. Regardless of what they show, however, you should still DV whenever a CA changes hands or you find a new one on your report. Link to comment Share on other sites More sharing options...
Methuss Posted January 11, 2008 Report Share Posted January 11, 2008 The FCRA as amended by FACTA requires that debt collectors report the original date of delinquency to the bureaus within 30 days of opening a tradeline for the collection account. Most CAs don't report that accurately and report the day they got it instead. BUZZ. Wrong answer. That's a violation of the law and you can take the CA to task over it. Link to comment Share on other sites More sharing options...
wenry2004 Posted January 16, 2008 Author Report Share Posted January 16, 2008 What should I say exactly to the CRA's when arguing this? I'm always affraid that I will loose because I don't have enough knowledge behind me....and little money for a repair company. Link to comment Share on other sites More sharing options...
lovebug5 Posted January 16, 2008 Report Share Posted January 16, 2008 I wouldn't argue it with the CRA's. Argue it with the CA's who are in violation, if they are truly in violation... Link to comment Share on other sites More sharing options...
brokeinok Posted January 16, 2008 Report Share Posted January 16, 2008 The FCRA as amended by FACTA requires that debt collectors report the original date of delinquency to the bureaus within 30 days of opening a tradeline for the collection account. Most CAs don't report that accurately and report the day they got it instead. BUZZ. Wrong answer. That's a violation of the law and you can take the CA to task over it.What's the actual citation/section number on this? Link to comment Share on other sites More sharing options...
Ahntara Posted January 18, 2008 Report Share Posted January 18, 2008 FCRA 1681s-2, subsection 623(a)(5) Link to comment Share on other sites More sharing options...
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