zombieCat

Advice on Re-Aging

9 posts in this topic

zombieCat    0

Hello, I'm new here. I read through some threads about re-aging. I'm guessing I'll want to get ahold of an attorney, but I wanted to see what everyone thinks.

I have an OC who charged off an account in 2013. The Last Payment Date field on the report shows as being in 2012. However, beginning in 2014, it shows a payment being made each month, and it keeps changing. The image below shows last month vs this month. Going back through a few reports I've pulled in the past, it's the same thing--no matter which month I pull a report, the most recent 5 months are 30/60/90/120/FP, with the 6th month always shown as OK. Then the next month, the one that was 30 behind shows OK and the next 5 months show 30/60/90/120/FP. Again, I have made none of these payments, and the total owed never changes on the report. I believe this is re-aging. Am I correct?

CU_Payments.jpg

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BV80    2,328

@zombieCat

You're referring to the Fair Credit Reporting Act.  Have you disputed the information with the credit reporting agency (CRA)?   Is it being reported by one CRA or more than one?

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zombieCat    0
Just now, BV80 said:

@zombieCat

You're referring to the Fair Credit Reporting Act.  Have you disputed the information with the credit reporting agency (CRA)?   Is it being reported by one CRA or more than one?

Yes, I'm referring to FCRA. It appears to me to be a pattern of illegal re-aging. It's reported by 2 CRA's (with the same pattern), and the account isn't listed at all on the 3rd. I haven't disputed yet, because I'm trying to figure out if this is indeed a case of re-aging before I do. I want as much leverage as possible.

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BV80    2,328
13 minutes ago, zombieCat said:

Yes, I'm referring to FCRA. It appears to me to be a pattern of illegal re-aging. It's reported by 2 CRA's (with the same pattern), and the account isn't listed at all on the 3rd. I haven't disputed yet, because I'm trying to figure out if this is indeed a case of re-aging before I do. I want as much leverage as possible.

If you haven't done so, it's best to get a hard copy of your credit report.  I'm not sure about the accuracy of the online version.

Is the CRA reporting a date that the entry will be deleted?   While the noted payments are incorrect, they don't reage the entry.   Entries are based upon the date of default.  

No matter what, the FCRA requires that you must first dispute inaccuracies with the CRAs.  

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zombieCat    0
27 minutes ago, BV80 said:

If you haven't done so, it's best to get a hard copy of your credit report.  I'm not sure about the accuracy of the online version.

Is the CRA reporting a date that the entry will be deleted?   While the noted payments are incorrect, they don't reage the entry.   Entries are based upon the date of default.  

No matter what, the FCRA requires that you must first dispute inaccuracies with the CRAs.  

The latest version is a hard copy. It shows DofFD as Nov 2011. Is that the date it would have gone into charge-off (I see no specific date of when it was charged off)?  It doesn't show a date the entry will be deleted. Even though the DofFD isn't changing, reporting inaccurate payments is causing my score to go down every month, because it shows recent history of 30/60/90/120/FP. Is this the creditor's way of doing damage while getting around the re-aging laws? And yes, I will dispute. I'm the kind of person who likes to have as much information as possible about what is happening before taking action on things, which is why I'm asking these questions.

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BV80    2,328
7 minutes ago, zombieCat said:

The latest version is a hard copy. It shows DofFD as Nov 2011. Is that the date it would have gone into charge-off (I see no specific date of when it was charged off)?  It doesn't show a date the entry will be deleted. Even though the DofFD isn't changing, reporting inaccurate payments is causing my score to go down every month, because it shows recent history of 30/60/90/120/FP. Is this the creditor's way of doing damage while getting around the re-aging laws? And yes, I will dispute. I'm the kind of person who likes to have as much information about what is happening before taking action on things, which is why I'm asking these questions.

The date of first delinquency is the date a payment is missed or is late. 

If an account is still in good standing (not charged off) and one makes payments bringing the account back to a current status, the DOFD will not change as long as the account is kept current. 

If you never pay after that missed payment and the account is charged off, the DOFD will not change.  Payments made after charge off will not affect the DOFD.

Since the DOFD is Nov. 2011, the entry is not being reaged.   Just make sure the Nov. date is correct.   Anyway, you can dispute the inaccurate information with the CRAs.  

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zombieCat    0
7 minutes ago, BV80 said:

The date of first delinquency is the date a payment is missed or is late. 

If an account is still in good standing (not charged off) and one makes payments bringing the account back to a current status, the DOFD will not change as long as the account is kept current. 

If you never pay after that missed payment and the account is charged off, the DOFD will not change.  Payments made after charge off will not affect the DOFD.

Since the DOFD is Nov. 2011, the entry is not being reaged.   Just make sure the Nov. date is correct.   Anyway, you can dispute the inaccurate information with the CRAs.  

Thank you.

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zombieCat    0
26 minutes ago, fisthardcheese said:

who is the OC?

They're a state-wide credit union.

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