Question about old CO past SOL- now trying to be collected on

[kawgirl23]

I had a credit card with Lerner (now called NY and Co) that I was unable to pay and has sinced charged off. According to a my report I pulled on myfico.com for EX it says dola was September 2004 and dolp was April 2004. I live in MD so the SOL has past for this debt.

Since then I became and AU on my mother's account she has with them. I checked my CR and they now have listed the dola to be June 2008. Is it legal for them to change the dola for this old account if it really isn't an active account and I'm an AU on a totally different account which is not reporting on my CR.

Then the amount they have listed as a CO is $1105 (which I disputed) and this new company has me at a past due balance of $1516.80 (????).

What should I do? Should I send the CA a DV or a SOL letter? Is it required for the OC to report my old CO account with the correct dola as September 2004 and put another account on their saying that I'm an AU for another account?

Thanks in advance for your help.

[willingtocope]

The only date that really matters is the "date of first delinquency" (DOFD). That's what controlls how long this can stay on your reports. The dola can change if they just update your reports.

And, charge off is just an accounting term. It doesn't mean anything to you. If the original terms and conditions of your agreement with them permits, they can continue to charge interest forever. You still owe it...they can still try to collect.

[kawgirl23]

The only date that really matters is the "date of first delinquency" (DOFD). That's what controlls how long this can stay on your reports. The dola can change if they just update your reports.

And, charge off is just an accounting term. It doesn't mean anything to you. If the original terms and conditions of your agreement with them permits, they can continue to charge interest forever. You still owe it...they can still try to collect.

So the dofd was March 2004. So since the SOL for my state is 3 years, can I just send the new CA a SOL letter or should I send them a DV letter? Or is the SOL letter used only if they try to sue me?

[willingtocope]

You could send them a "cease and desist" letter which basically tells them to stop trying to collect or to sue you. That won't get it removed from your reports. And, if they do decide to sue...you have to be sure to show up in court. If you don't, or if the judge doesn't accept the SOL defense, you could still lose.