10-21-2008 02:37 PM
Help! I have 4 Cap One accounts that were included in my 2002 BK (filed 2/02, discharged 5/02). I first became deliquent in 9/2001, and made no other payments until the debt was discharged in my BK. I called EQ this morning and was told that the "7 year clock" started ticking in 5/2002. I told this that this was impossible, as that was my discharge date and I hadn't made a payment for months prior to that. The rep & a supervisor explained that the discharge date was correct for reporting purposes, since that was the Date of Last Activity. They assured me that the FCRA Section 605 had nothing to do with when I made my last payment. They considered "activity" to be my BK discharge. I think they are full of it! How can I get this resolved??
10-22-2008 04:49 PM - edited 10-22-2008 05:20 PM
Huh. Sounds like a misunderstanding to me. They are right to timestamp the DoLA with the discharge date, but as far as I know:
1. As someone here explained awhile back, the DoLA reported will often have nothing to do with the DoFD, as they are not the same thing nor are they regarded as such by the CBs that report them. Sometimes the report presentations appear to conflate the two, which creates confusion.
2. The "removal" clock starts ticking from the DoFD for BKed accounts that ended life in delinquency. A more recent DoLA will not reset the clock unless someone's made an error.
My one remaining BKed account is scheduled to drop seven years from the DoFD, according to the reports provided by all three CBs. I thought I was current on payments until my filing date, but MBNofA claims I had a late the month prior. The "estimated drop date" on my reports was apparently calculated using MBNofA's recorded DoFD and NOT my date of discharge NOR the date of MBNA's transfer to BofA (which is listed as my DoLA).
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