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I disputed Palisades and they just updated my CR


BTO429
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I disputed Palisades about four days ago, I just updated my CR on TC and Palisades reported this month. It was not on there yesterday. I thought they could not do that after I sent them a dv letter. I disputed on the 12th and they reported on the 16th. Not to mention the DOFD of this account is 2001

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Color me confused...

"I disputed...Palisades reported this month..."

When you send a dispute to the CRA's, it's a request for a transfer of data between the CRA's and the Data Furnisher. The data is transferred electronically, in code, and is often 'verified' and ALWAYS updated - to show the results that you requested. It's the typical consequence of disputing. Either the DF fails to verify in time, resulting in the TL getting suppressed OR the data is verified, resulting in the TL getting updated.

"...past the SOL to collect."

SOL is state law relating to the time frame during which you may be sued to recover money owed and the ramifications should judgment be granted. Expiration of SOL isn't a guarantee you won't be sued and it has no bearing on collection efforts. Unless your state is one of the two that have a Statute of Repose (which actually extinguishes the debt upon expiration of SOL), collection efforts can extend indefinitely. This board is riddled with posts about zombie debts coming back to haunt them after many years. It's just that past SOL and past RP debts have no 'teeth'. Still, for JDB's sending out some random collection letters nets them enough money from uninformed consumers to make it an excellent tactic to generate revenue.

Credit reporting is regulated by the federal Fair Credit Reporting Act. Something may appear on your CR, or not, and be actively collected, or not. The two are separate issues.

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This bill is old, the DOFD is 3/2001 The main thing is I have never got a dun letter, a phone call, or anything from the CA. I pull my CR and then I find them reporting it as a bad debt.

That is interesting. What do you get if you add 7 years to the date of 3/2001? How about a drop off. Tell the CRA that this acct is 7 years old and needs to be removed...

Joseph

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