Reaging Information

[Anonymous]

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@LynetteM wrote:
Congratulations ladydi! Work well done.

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Thank You Lynette, now i have 3 more to go....

[llecs]

Congrats on the deletion!

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ladydi wrote:

I have an old credit report from EQ. The DOFD on this account is 2/06. The date showing above is when i paid off the account (7/09). I read something about prior delinq and it stated: the date of delinq. If this the case, then that means it will be on my report for another 7 yrs? This is very scary..

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Nope, paying any baddie will not reset the 7 yr CRTP. The CRTP is based on the DOFD and that can never change (legally). The only reason to compare old reports is to make sure they don't do that. It is very rare that this happens but have seen a couple posts in here before.

[Supafly535]

I had an account with Kay Jewelers, that went to collections with Zenith Acquisitons.  My first payment with Kay Jewelers was due February 1, 2007 (as i still have the reciept stating the first payment date) I never made a payment and thus the account went to collection. ‬ ‪Zenith Acquisitions is reporting the Date of First Deliquency as March 2008.  I called Transunion to get the "Obsolescence Date which is based for FCRA Compliance" and the transunion representative kept telling me "7 years from the march 2008 date it will come off and any information they have, is what is being reported to them.   Should i keep calling Transunion until i get a representative who knows what the FCRA compliance is or call Kay Jewelers for this information? Do i go ahead and dispute?‬ ‪ ‬ ‪Hoping you knowledgeable people can help! This is my last collection i am trying to remove from my transunion report.‬ ‪ ‬ ‪Thanks!! ‬

[llecs]

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@Supafly535 wrote:
I had an account with Kay Jewelers, that went to collections with Zenith Acquisitons.  My first payment with Kay Jewelers was due February 1, 2007 (as i still have the reciept stating the first payment date) I never made a payment and thus the account went to collection. ‬ ‪Zenith Acquisitions is reporting the Date of First Deliquency as March 2008.  I called Transunion to get the "Obsolescence Date which is based for FCRA Compliance" and the transunion representative kept telling me "7 years from the march 2008 date it will come off and any information they have, is what is being reported to them.   Should i keep calling Transunion until i get a representative who knows what the FCRA compliance is or call Kay Jewelers for this information? Do i go ahead and dispute?‬ ‪ ‬ ‪Hoping you knowledgeable people can help! This is my last collection i am trying to remove from my transunion report.‬ ‪ ‬ ‪Thanks!! ‬

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If your DOFD is 2/2007 and Zenith is reporting otherwise at 3/2008, then it is Zenith that is misreporting the DOFD. The TU rep is correct in saying that  the 7 yr CRTP would be 7 yrs from 3/2008, because of the misreporting by the CA. Your issue would be with the CA. I wouldn't dispute at all. Do you have the $$$ to PIF if you had to or did SOL expire? If not, then wait it out. Sending any letter or doing anything would increase collection activity including the risk of being sued. Otherwise, start with a DV to the CA and wait for their response. After they respond, you can always take up the issue of the DOFD, however, your primary concern should be to get it deleted vs. a corrected date.

I was thinking...could it have been a "no payment for one year" type of deal with the CA? If so, then the 3/2008 would fit perfectly.

[RobertEG]

It is most likely that the DOFD in your credit report was provided by the OC, not the CA.

Responsibility of reporting of DOFD to the CRA rests initially with the OC.  Most CAs dont have complete OC account records, and thus have no sound basis for detrmination of your DOFD.

The first month that any OC reports a delinquency, the credit reporting guidelines require that they update the "FCRA Compliance/Date of First Delinquency" in your credit file under base segment, field code 25.  That date can only be updated if two things occur: (1) the account is thereafter brought back into good standing, and (2) a new first delinquenccy then occurs.  I know that the OC does not always do this, because DOFD has no real meaning until a CO or CA occurs.

Knowing this possibility, congress included FCRA 623(a)(5) in order to ensure that, once a CO or CA is actually done, the CRA is provided a DOFD upon which to calcualte your drop off date after 7 1/2 years.

That must be reported to the CRA within 90-days of the CO or CA, and must, if the OC previously reported a DOFD, match that date.  If the OC did not previously report a DOFD, then they are required to follow a reasonable procedure to get this date from the OC.  FCRA 623(a)(5)(B)(ii.)

In my opinion, the DOFD in your credit file is a legal requirement of FCRA 623(a)(5).  If a CA later reports an update to your DOFD that is different from what the OC has reported, or has made no attempt to verify it with the OC, but just substitutes their dates of collections activities, that is what constitutes illegal reaging.  It is illegal due to FCRA 623(a)(5).

If the CRA is not forthcoming with this information, that is what FCRA 609(a)(1) is all about.  That gives you the legal right to file a request for any information in your credit file.  Filling such a request carries with it a fee payable, under FCRA 612(f), of $10.50, so be sure, if you file such a request under FCRA 609(a)(1) that you include a check in the amount of $10.50.  List the information requested as the date of delinquency filed in compliance with FCRA 623(a)(5).

[Supafly535]

wow very knowledgeable! ... i am a little confused though (sorry.)  Who / where do i go to file the dispute / request?

[Anonymous]

If the oc has an incorrect dofd, can the debt buyer change the date to the correct one?

[llecs]

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@Anonymous wrote:

If the oc has an incorrect dofd, can the debt buyer change the date to the correct one?

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Yes, so as long as it is correct. If the OC and/or the CA report an incorrect DOFD, then that can be an issue.

[RobertEG]

In my opinion, no, a debt collector cannot usually report a DOFD different that the DOFD reported by the OC.  I can think of one situation where that might occur, but it would necessarily mean that the date reported by the OC is clearly inaccurate.

As a basic premise, the FCRA imposes the responsibility on the OC to provide the correct DOFD for entry into a consumer's file.  That premise is based on the obvious fact that the DOFD occured under the OC account, and thus they are the source for that factual date.  Debt collectors are also required to provide the DOFD to the CRAs, and the process for their doing so is outlined in FCRA 623(a)(5), basicially requiring them to get it from either prior OC reporting, or if the OC has not reported a DOFD, by contacting the OC and attempting to get it.

The simple situation is where an OC HAS previously reported the DOFD on their account to the CRA.  In that situation, FCRA 623(a)(5)(B)(i) stipulates that the debt collector report the same date as was reported by the OC.  So no, reporting a date other than that reported by the OC is not compliance with the statute.

There could be a rare situation wherein the debt collector, through some contact with the OC, has been advised of a different date than that of record under the OC account.  Very unlikely, however if such a situation occurs, that ipso facto is an admission by the OC that their reported DOFD is inaccurate.  The OC would thus be compelled to timely update that inaccurate reporting, bringing the two into concurrence.

Otherwise, unless the debt collector has factual basis of inaccuracy of the prior OC reporting, they are compellled to report that same date.

[Hwndori]

Ok whats wrong with this picture:

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Date Opened: 02/27/2007
Responsibility: Individual Account
Account Type: Installment Account
Loan Type: AUTOMOBILE
Balance: $0
Date Updated: 05/01/2008
Last Payment Made: 07/20/2009 <--- HUH?? How is there a payment listed AFTER the account was closed
High Balance: $6,944
Pay Status: >Account Included in Bankruptcy<
Date Closed: 05/01/2008
Date Paid: 03/28/2012

Estimated month and year that this item will be removed: 01/2015  <--- Soooo, how did they come up with this date?