Question on DOLA

[Anonymous]

Hi all,  My question is this.  My orignal creditor has a date of last activity listed as Jan 03.  But the Collection Agency has a date of last activity of Nov 03. 

If my SOL is 4 years, which one is correct.  The original creditor with an SOL of Jan 07 or the CA with a SOL of Nov 07.

[Anonymous]

Let me restate in case of confusion.  Which date of Last activity should I be concered about?  The creditors or the Collectoin Agency.  I never talked to the Collection Agency Lvnv Funding.  Since they only have 4 years in which to do legal things. 

If you go by the OC date then no legal action can take place since it expired in Jan, but if you go by the CA date then it expires this month? 

Any ideas, thoughts on this?

[Anonymous]

TU and EX use DOFD + 7 years for drp dates. EQ uses DOLA +7 years. The ORIGINAL DOFD (when you defaulted) determines SOL.

[Anonymous]

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yoyo9696 wrote:

Hi all,  My question is this.  My orignal creditor has a date of last activity listed as Jan 03.  But the Collection Agency has a date of last activity of Nov 03. 

If my SOL is 4 years, which one is correct.  The original creditor with an SOL of Jan 07 or the CA with a SOL of Nov 07.

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the OC sets the DOFD not the CA!!!!!!!  because the CA is trying to re-age it (which is against the law) make sure that you keep all hard copies of your CR!!!!

what state are you in?  I know that you said that your SOL was 4 years BUT is it 4 years from DOFD or DOLA?

[Anonymous]

I live in TX

[Anonymous]

ok that is good. I think it is the best when it comes to SOL. The date can be argued to be sooner then DOFD at times.

The Texas Civil Practice & Remedies Code provides a 4-year limitations period for types of debt. The SoL begins after the day the cause of action accrues, (Section 16.004 (a) (3)).

Go by the Jan 3 date...As I said it is the OC not the CA that sets the date.you should be past SOL.

I would dispute first BUT be sure and have hard copies of all CR  showing the DOLA or DOFD from the OC.

When it comes to the CA....dispute and  DV  CMRRR  at the same time. I would wait & see what they come back with....they do not know that you already know that they re-aged the account.

Remember that the REPORT  DATE  has nothing to do with the DOFD or DOLA. It is just report date.

re-aging

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=2175

Message Edited by HappyDays on 11-08-2007 08:04 PM

Message Edited by HappyDays on 11-08-2007 08:07 PM

[Anonymous]

Thank you happy,

So the hard copy is the one i get via snail mail from all 3 CRA?  I am writing my DV letter to LVNV, but what is the dispute Letter?  Disputing that it is mine or the date that is on my credit report? 

Thanks again for all the info!

[Ausfarm]

Yoyo, I'm not trying to be the bearer of bad news, but don't be surprised if you get served soon.  A relative of mine was recently sued by this company.  They're scavenger debt collectors that buy debts before the SOL expire and sue.  Most people don't respond and these people get a default judgment (which, of course, will be reflected on your credit report).  Either that, or they'll freak you out and try to get you to settle w/ them.  (Nevermind that they probably bought this debt for .01 on th dollar).

You're on the right track.  Get your facts in order.  If/when they sue, in your answer to the lawsuit make sure to challenge the sworn affidavit of account within the time period provided in the suit.  If you can afford it, hire an attorney.   The attorney should know exactly what that means.  The attorney will also be able to get the case dismissed if the SOL has in fact run.  

Don't shoot the messenger.