Reply
Valued Member
Posts: 43
Registered: ‎03-25-2009
0

Basic Questions about violations

Hi Could you please give me a hand here?  Thanks to all who respond.

 

1. DOFD  -  Is this the date of the very first time i was 30 days late? and does it matter if i paid lets say up to date 4 months later. The reason i ask is if thats the date calculated when figuring out when it falls of my CR. The very first date i was late or if i paid again 3 or 4 later and never again after that.

 

2.  Can a CA report monthly lates? or just that its a collection company and amount owed?

 

3.  Is the CA date to fall off my report suppose to match the OC date?  Even if the CA bought the account

 

4. Can the OC report lates after the date the account was closed?

 

Thanks

Valued Contributor
Posts: 2,717
Registered: ‎08-13-2009
0

Re: Basic Questions about violations

1. DOFD  -  Is this the date of the very first time i was 30 days late? and does it matter if i paid lets say up to date 4 months later. The reason i ask is if thats the date calculated when figuring out when it falls of my CR. The very first date i was late or if i paid again 3 or 4 later and never again after that.  <-----  it's the date it gets reported.  For example, your payment is due January 15, 2010.  You don't pay it.  Your cc updates on February 15, 2010 to the CRA that you are now 30 days late.  So the late occurred in January, but reports for February.  It's 7 years from the date reported.  In this example, it should fall off in February 2017.  Probably the end of the month.

 

2.  Can a CA report monthly lates? or just that its a collection company and amount owed? <----- CA can NOT report lates.  They do not have a revolving or an installment loan with you.  They can ONLY legally report a balance due.   Sometimes, the evil CA's report as a CC or a loan.  Get that corrected!   They are to report the DOFD (see example above - Jan or Feb), date it will fall off, creditor (optional), and amount due.

 

3.  Is the CA date to fall off my report suppose to match the OC date?  Even if the CA bought the account <------ Nope.  Usually the OC tries to collect for 6 months.  All lates with them can report for 7 years from DOFD.   The CA reports from the time they get it.   SO baddies/CA's may be reporting up to 7.5 years from DOFD.  NO later than that unless it's a BK or some other special case.

 

 

4. Can the OC report lates after the date the account was closed?  <----- Nope.  Once the account is closed, it's closed, and no NEW activity can be reported.  Meaning, if you were 180 days late when they closed the account out, then it stays at 180 days late.  The OC can report that it was a charge off or that it was settled or that it was sent to collections, but they can NOT continue to update "lates" going from 180 to 210 to 240, etc.

 

 

:smileyhappy:  You know you can tell us what is going on!

Valued Member
Posts: 43
Registered: ‎03-25-2009
0

Re: Basic Questions about violations

Thanks great violation info i have proof for.. just to clarify One of your points:

 

3.  Is the CA date to fall off my report suppose to match the OC date?  Even if the CA bought the account <------ Nope.  Usually the OC tries to collect for 6 months.  All lates with them can report for 7 years from DOFD.   The CA reports from the time they get it.   SO baddies/CA's may be reporting up to 7.5 years from DOFD.  NO later than that unless it's a BK or some other special case.  Im still a little confused.  So the CA fall off date is 7.5 years from the time they bought the account?

 

i.e

 

Fall off date for the OC is 08/2013

Fall off date for the CA is 06/2014

 

Is that legal?

 

Thanks

Agagin

Valued Contributor
Posts: 1,063
Registered: ‎05-26-2010
0

Re: Basic Questions about violations

No it's not legal, and the CA cannot re-age the debt.  The CRA must stop reporting 7.5 years from DOFD.  The CRA must provide the underlying OC's DOFD to the CRA.

BK7 Filed 8/11/2009 Discharged 11/23/2009. Purchased new home 4/11/2012
Starting Score:11/16/2009 EQ 566 11/16/2009 TU 538
Interim Score: 12/27/2012 EQ 683 09/17/2012 EX (lender) 670 1/01/2013 TU 701
Current Score: 11/06/2013 EQ 708 11/06/2013 EX 702 11/16/2013 702 11/06/2013 TU 729
Goal Score: EQ 740 EX 740 TU 740
Take the FICO Fitness Challenge
Valued Member
Posts: 43
Registered: ‎03-25-2009
0

Re: Basic Questions about violations

Thanks for all the help.. Done and removed.. or will be shortly , letter received from law firm representing Pinnacle stating as much.   They bought it and stated it will not be resold in anyway shape or form or collected upon in the future. Since I pointed out there violations some dead on thank to you guys some maybe gray area. Now we will wait until it falls off.  I have the letter so worse case scenario i will send info to the CRA's   There the second toughest agency I've worked against besides NCO

Valued Member
Posts: 43
Registered: ‎03-25-2009
0

Re: Basic Questions about violations Pinnacle

All 3 CRA's removed..  took 30 days..  complained to FTC/BBB and AG and disputed all 3 CRA's online the day i recieved green card, when i knew pinnacle recieved the DV. 

 

Good Luck to all 

 

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.