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Is this an example of re-aging???


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Hi all,

I wanted to ask for some advice on how to properly proceed with a situation I have:

I had a checking, savings, and credit card account with a credit union a while back. About six years ago I was at the pinnacle of my financial mess and closed the checking account because my direct deposit went to that account and did not want to be "forced" to make payments on the credit card I could not meet. I was unable to close the savings account ($5 minimum) because they said I had an outstanding balance on the credit card. Needless to say, I fell behind and could not keep up with the payments.

I recently called the credit union (OC) to ask for information about the account on my credit report and they said it was with a CA (who hasn't sent a request for payment at all). The last payment I made to the card was on 12/2004 and in Illinois this account should be out of SOL. To my surprise the OC said the last payment on the account was on 08/2008! What the OC did was take the sixteen cents interest in the savings account and applied it to the credit card account! To make things interesting they say the account was charged off on 07/2008, before the interest was applied. Is this an example of re-aging? What should my next step be? Thank you.

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I think you need to meet with an attorney...he will help you properly.....thanks for sharing your problem...

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This guy here appears to just be trying to drum himself up some business.. I'd Ignore it.

This is really odd. How was there even any money left in the account to accumolate interest if they seized the account?

I really don't think they can add the interest seized as part of your payments as it wasn't made by you.

YOu may end up having to speak with an attorney but I'd definitely post this in the attorney section here to see if someone will help you without cost first.

This is really fishy and really pretty crappy on their part!

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Looking at the age of the account, I wouldn't worry too much. It's going to fall off your report next year.

The 16 cents should not re-age your account because I don't believe that 16 cents brought your CC-account current again, right?

So the account is still going to drop off 7 1/2 years after the DOFD.

I'd say you should obtain a credit-report directly from the bureaus in question and check what info they provide (DOFD, scheduled drop-off date etc.) and make sure it's accurate.

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Even if you had paid at the later date, it still would not be illegal re-aging.

RE-aging refers to reporting a date that acts to extend the time period that a collection or charge-off can remain in your CR.

The only date affecting deletion from your CR is the DOFD on the OC account.

That date is fixed under FCRA 605©.

Unless you have evidence to show that the debt collector updated the DOFD in your credit file, it would not re-age its fall-off date. Reporting payments is irrelevant to establishing the CR fall-off date.

The collection must cease inclusion in your credit report after one date-certain, which is no later than 7 years plus 180-days from the DOFD on the OC account.

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