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Is this legal?


MokkNoir
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First, I would just like to say how great this site is! Cheers to the gurus that are helping others regain their footing!

Now, on to my question. I'm a little bit confused about how long something can stay on my credit report. I've not made any credit cards payments since January 2001. Many of my bad accounts are now gone, but a few are still hanging around. Not only are they hanging around, UNIFUND a collection dept. for Providian is playing tricks to keep it current.

Am I correct in thinking that 7 years from the date of the CO by the OC that the item should be removed? Are they breaking the law by creating new accounts to keep it current?

Here is a sample of one credit card debt and its listings from several CRs that I saved last couple of years. I compiled all the data from this single acount and used the terminology on the report. I left out what I didn't think was really neccessary or blank to save time.

Providian Acct# 455950060049XXXX

Experian Credit Report – April 26, 2006

Status: Transferred, closed/Account charged off. $4,059 written off

Account History: Charge Off: Nov 2001

------------------------------------------------------------------------

Equifax Credit Report – May 4, 2006

Status: Charge-Off

Date Reported: July 2004

Date of Last Activity April, 2001 [June 30-59 days past due, July 60-89 days past due, etc; Oct 120 Days Past Due]

------------------------------------------------------------------------

TransUnion Credit Report – May 5, 2006

Status: Charge Off as bad debts

Remarks: Purchased by another lender

High Balance: $4,057

Credit Limit: $3,200

Date Opened: Nov, 2000

Date Closed: Nov 2001

------------------------------------------------------------------------

Equifax 3-in-1 Credit Report – Jan 16, 2008

Experian Acct# 060049XXXX

Date Opened: Nov, 2000

Balance Date: Jan 2003

Balance Amount: $0

Acct. Status: As Agreed

High/Limit: $3,200

Comments: Last Reported Delinquencies: 01/2003=R, 12/2002=R Account closed by credit grantor account transferred to another office

24-Month Payment History: Charge Off: Nov 2001

TransUnion Acct# 060049XXXX

Date Opended: Nov, 2000

Balance Date: Jan 2003

Balance Amount: $0

Acct. Status: Collection

High/Limit: $4,057

Comments: Purchased by another lender

No 24-Month Payment History available for display

Equifax Not Reported

------------------------------------------------------------------------

Equifax 3-in-1 Credit Report – Jan 16, 2008

{Filed as UNIFUND Acct# PROVI-5950060049XXXX}

Equifax

Status: Collection

Date Opened: (No Date Listed)

Balance Date: Dec, 2007

Balance Amount: $5,803

High/Limit: $4,059

Comments: Collection Account

Experian Not Reported

TransUnion Not Reported

-----------------------------------------------------------------------

Equifax 3-in-1 Credit Report – Jan 16, 2008

{Filed as UNIFUND Acct# 455950060049XXXX}

Experian Status: Collection

Date Opened: Feb, 2003

Balance Date: Jan, 2008

Balance Amount: $5,833

High/Limit: $4,059

Comments: Last Reported Delinquencies: 01/2008=I9, 12/2007=I9 Original Creditor Providian National Bank Collection Account

24-Month Payment History: NR from Feb, 2006 - Apr, 2006 CO from May, 2006 – Jan, 2008

Experian Not Reported

TransUnion Not Reported

This is my first post, so please exscuse me if I'm confusing things. I've been pouring over all the forums and reading the laws, but its not an easy thing to do. I really would welcome any feedback from some of you that have been doing this for years.

Thanks in advance for any help!!!!

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Well I don't have the years, but think I can help clarify this a bit.

The date you have to concern yourself with is SOL and DOFD.

Statute of Limitations for NC is 3 and 3 for written and open accounts, so be sure you're past that before doing anything to the accounts. This means that although you may still be sued, you have an affirmative defense to the lawsuit, gavel drops and you're out of there. You do have to go if served though or they can and will get a default judgement against you. Not clear the DOFD from what you posted above, but you need to know this. If what you say is correct, that you have not paid since 2001 on any of these your SOL has run.

The second is the DOFD (Date of First Delinquency) This is the date in which you first failed to make a paymen t and at no time later brought the account current.

All other dates are meaningless.

The drop date is 7 - 7-1/2 years from the DOFD of the account. In most cases they will drop in 7. BK stays for 10 years.

Oh, and welcome to the boards. Lots of really good information available here. Read lots and check the newbie sections at the top of the pages. That will help you catch on to the alien spoken here.

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Ok, I will narrow this down to my essential question since I'm still not quite sure.

If my DOFD is May 2001 and I never made another payment, regardless of how many companies buy the debt, should it legally be dropped from my CR?

In other words, can I go after them if they won't drop it come May 2008?

Thx again for any help!!!

My hat is off to Amerikaner83. Great stuff for newbies.

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OK, first no brown nosing with Amerikaner. His head is way too swelled already!! :)

Yes, if the DOFD is May 2001, you should expect them to fall off by that date. Keep in mind they can add another 6 months to that, but seldom do from what I've seen.

That does not mean CA's will not pop up after that and you have to DV them immediately and they will drop. But, they can sell it again and another can pop up and DV, rinse, repeat. Never ignor their letters and DV immediately. In most case they will eventually go away, but dpends on what is owed and what they hop e to get back.

Remember they can sue you even decades later, but past SOL you have a defense.

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