Jump to content

Question About Dates on Credit Reports


lilacbouquet
 Share

Recommended Posts

I am confused about the dates listed on my credit reports. I thought they could appear 7 years from the date you opened the account OR 7 years from the date of first delinquency. I have a debt from 2004 showing up on my report still -- twice. Once from the original creditor and once from the collection agency. The original creditor's note says the account was opened in 12/2004, but the report says it is scheduled to appear on my report until 2013. Why is this?

Link to comment
Share on other sites

I am confused about the dates listed on my credit reports. I thought they could appear 7 years from the date you opened the account OR 7 years from the date of first delinquency. I have a debt from 2004 showing up on my report still -- twice. Once from the original creditor and once from the collection agency. The original creditor's note says the account was opened in 12/2004, but the report says it is scheduled to appear on my report until 2013. Why is this?

A negative entry can remain on your CR 7 years after the date of 1st delinquency.

Link to comment
Share on other sites

I'm sorry; I am not familiar with all of this terminology yet. The credit report says that the account was opened in 12/2004 - it does not say when the date of first delinquency was, and it doesn't appear on my other two reports, so I can't look on them for verification.

However, my records indicate that the date of first delinquency was 2004. The bill was for my college tuition. To make a long story short, I attended classes in summer 2004 and the financial aid office failed to certify my federal loan by the cutoff date. I didn't find out about it until I came back for fall classes and found out that I had a large balance and would not be allowed to move in to the dorms as planned. I had to fight with the college until October, when the VP of enrollment admitted that it was the financial aid office's fault. They used private grant money to pay my summer balance. Unfortunately, I was not allowed to attend classes during that time (they won't allow you in class if you have a balance), so I had to drop all of my classes. It was past the drop date, so I got charged for the entire semester even though I did not earn any class credit or get any grades or anything. Your semester balance is typically owed at the beginning of the semester, so the date of first delinquency should be September 2004 or, in the event that they don't report it as delinquent until the end of the semester, December 2004.

Link to comment
Share on other sites

I'm sorry; I am not familiar with all of this terminology yet. The credit report says that the account was opened in 12/2004 - it does not say when the date of first delinquency was, and it doesn't appear on my other two reports, so I can't look on them for verification.

However, my records indicate that the date of first delinquency was 2004. The bill was for my college tuition. To make a long story short, I attended classes in summer 2004 and the financial aid office failed to certify my federal loan by the cutoff date. I didn't find out about it until I came back for fall classes and found out that I had a large balance and would not be allowed to move in to the dorms as planned. I had to fight with the college until October, when the VP of enrollment admitted that it was the financial aid office's fault. They used private grant money to pay my summer balance. Unfortunately, I was not allowed to attend classes during that time (they won't allow you in class if you have a balance), so I had to drop all of my classes. It was past the drop date, so I got charged for the entire semester even though I did not earn any class credit or get any grades or anything. Your semester balance is typically owed at the beginning of the semester, so the date of first delinquency should be September 2004 or, in the event that they don't report it as delinquent until the end of the semester, December 2004.

A date of first delinquency is supposed to be reported. Also, the date of first delinquency actually means the very last time you paid on the account and didn't bring the account current.

For instance, I could miss a payment on 01/01/2009, and that date would be the date of first delinquency on my CR. Then I could start paying again and bring the account current. If I never miss anymore payments, the account would eventually go to a positive status. BUT, if I miss a payment again on 10/01/2011, that becomes the NEW date of first delinquency.

Did you ever pay again after 9/2004?

Link to comment
Share on other sites

I disputed the debt with the college, so I never paid. If it was $100 or something, I might have paid under protest just to keep it from hitting my report, and then tried to work out something with the school. However, it was $6,000, which I didn't just have lying around.

If the college covered your summer balance with a grant, I don't understand why you're bill would $6000. In any case, I don't know the law regarding the SOL for collection and college tuition. I believe it has to do with private loans vs. public. If you find out this debt is legally uncollectable, meaning they can't sue you, I'd dispute with the CRAs.

Since you've already disputed with the college, if you don't get anywhere with the CRAs, it's up to you after that. You could contact an attorney, or just let the entry sit. It's going to fall off in less than 2 years. The older a negative entry becomes, the less effect it has on your score...especially of you have recent positive entries with current accounts.

Edited by BV80
Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...