creditor insists 7yr from payoff dola

socolisa9 · ‎04-14-2008

i had an account with leasecomm that defaulted on 06/01, i paid it off in full by 07/07. sent a GW to remove TL, but letter was returned/bad address. i called leasecomm and spoke to recovery dept. was RUDELY told that drop of is 7 yrs from payoff date..........i , of course advised him it was 7yrs from DOFD , was told that he does "disputes all day and i am wrong, it will fall of in 2014!!" disputed with CRA and not it is showing as a forclosure!! now what!!

Anonymous · ‎04-14-2008

socolisa9 wrote:
i had an account with leasecomm that defaulted on 06/01, i paid it off in full by 07/07. sent a GW to remove TL, but letter was returned/bad address. i called leasecomm and spoke to recovery dept. was RUDELY told that drop of is 7 yrs from payoff date..........i , of course advised him it was 7yrs from DOFD , was told that he does "disputes all day and i am wrong, it will fall of in 2014!!" disputed with CRA and not it is showing as a forclosure!! now what!!

Does your report show when it is due to be removed? If not call the CRA and ask.

Don't call if it is still in dispute as they can consider that you "provided additional information" and extend their time by 15 days.

socolisa9 · ‎04-14-2008

yes, one says 03/08, so i disputed and it came back verified, the person i talked to at leasecomm informed me that he was the one that handled the dispute.

i also spoke to someone a few minutes ago at the FTC, she said it IS 7 yrs from DOFD, and we proceeded to file a complaint.

she advised it does not matter when or how this account was paid, it is 7yrs from DOFD

Anonymous · ‎04-14-2008

socolisa9 wrote:
yes, one says 03/08, so i disputed and it came back verified, the person i talked to at leasecomm informed me that he was the one that handled the dispute.

i also spoke to someone a few minutes ago at the FTC, she said it IS 7 yrs from DOFD, and we proceeded to file a complaint.
she advised it does not matter when or how this account was paid, it is 7yrs from DOFD

The credit report says that it is due to be removed 03/08?

Did you dispute as "obsolete"?

Anonymous · ‎04-14-2008

Do you still have a paper copy of your CR from the CRA in question showing a March 2008 date? If so, dispute with the CRA, via CMRRR, and include that portion of your CR showing the March 2008 date. Tell 'em it's too old to report and note that it's a violation of the FCRA to re-age an account.

socolisa9 · ‎04-14-2008

disputed and came back verified. that's how all this began. now the report shows it is a FORCLOSURE!!! leasecomm claims it is not reaging , the drop off date is 7 yrs from DOLA !!

bott6698 · ‎04-14-2008

correct me if i am wrong but dola is only for sol not credit reporting. if you paid the account the sol goes by when you paid not the credit reporting.

for example i have a co going to fall off october 2008 but i am on a payment plan for the last 2 years with ca. it still shows to fall off october 2008 both from oc and ca.

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Anonymous · ‎04-16-2008

socolisa9 wrote:
disputed and came back verified. that's how all this began. now the report shows it is a FORCLOSURE!!! leasecomm claims it is not reaging , the drop off date is 7 yrs from DOLA !!

Have you called the CRA and do you have a paper copy?

llecs · ‎04-16-2008

Here's the FCRA statute:

§ 605. Requirements relating to information contained in consumer reports
[15 U.S.C. §1681c]

(a) Information excluded from consumer reports. Except as authorized under subsection (b) of this section, no consumer reporting agency may make any consumer report containing any of the following items of information:

(4) Accounts placed for collection or charged to profit and loss which antedate the report by more than seven years. [footnote in statute here...pertains to federally backed student loans]

Note...subsection (b) does give exemptions if amt org. due is over $150k

Also this....

(c) Running of Reporting Period

(1) In general. The 7-year period referred to in paragraphs (4) and (6)3 of subsection (a) shall begin, with respect to any delinquent account that is placed for collection (internally or by referral to a third party, whichever is earlier), charged to profit and loss, or subjected to any similar action, upon the expiration of the 180-day period beginning on the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action.

Anonymous · ‎04-16-2008

bott6698 wrote:
correct me if i am wrong but dola is only for sol not credit reporting. if you paid the account the sol goes by when you paid not the credit reporting.

for example i have a co going to fall off october 2008 but i am on a payment plan for the last 2 years with ca. it still shows to fall off october 2008 both from oc and ca.

That red line does not make sense to me. I thought that the SOL is from the DOFD... but what I am reading is that if you paid the account the SOL starts from there? help..