It is my understanding that a Collection Agent must report the date of debt from the date of last activity from the original creditor. Is this correct?
Original Creditor is CITIBank. Actual date (we THINK) of Last activity 7/2000. The original debt does not show on the original debtors Credit Report. We THINK it is because the 7 1/2 year reporting time has run out.
CA reports debt as new 7/2007 to all three CRA's.
Our plan is to DV the CA. Will this make them report the date correct?
It is our understanding that because our state SOL's has run out (Louisiana, 4 years), and the DOLA is over 7 1/2 years, there is nothing the CA can do. Is this correct?
As part of DV, are they required to give us the date of last activity of the account? We know the date reported now is incorrect, but are not sure of the actual date of last activity.
I know this has been addressed here, but I have no personal experience with CA's so my confidence level low. Any comments, suggestions or history would be greatly appreciated. FWIW, I am trying to help a family member clean up their credit before getting married in the Spring.
If necessary or would work better we are prepared to offer (start at $0.10 on the dollar ($ 120 on $ 1,200) and work our way up) for a PFD.
