Can they do this?

[shep85037]

Hi guys this is my first time posting here and  just did my fico score and there is 2 negative marks on my account that shows like it just happened in September of 2011 when in actuality the last date of activity was in aug 2008. Isn't there supposed to be a SOL on how many years that they are aloud to put a negative mark on my account? Thanks for your help

[guiness56]

Welcome to the forums.

No, there is no law that requires reporting to be done within a certain amount of time.  A negative can be added anytime until the 7.5 years from the DoFD is up.

[shep85037]

They had already shown it to collection before this along time ago and now its like I was just late as again as of recently. So they can just keep reposting on my credit report as they want ? Thanks for the help and thequick response.

[guiness56]

It was on your CR before and removed?  If so why?

If the debt was sold/transferred the new CA/creditor can report it also.

[shep85037]

Ok  I guess I misunderstood the SOL. Thank you very much for your help

[llecs]

Don't confuse SOL with CRTP. SOL is based off state law and has zero to do with credit reporting. SOL is the time frame a credit has to sue you for an unpaid debt and varies from 3 to 15 years depending on the debt type and where you live.

CRTP is the time frame for reporting to your credit report. That's mandated by federal law (via the FCRA) and is 7 to 7.5 years from the DOFD of the debt. DOFD is the date you first went late and never ever recovered again. As mentioned, any creditor, like a CA, can choose whether or not they want to report and if they do report, they can decide to report anytime up to that 7 yr limit. ETA...and if already reporting, they can update anytime they want up to those 7-7.5 yrs. Sometimes actions like a payment or a dispute can cause it to update the reporting, but nothing can change that DOFD date and any updates will not cause the TL to report longer than it should.

[shep85037]

I guess I did confuse the crtp with the sol. oh well I am learning..Thanks.

[Mvpbowler]

llecs, I was just wondering is there a way to find out what the DOFD is if you don't know it? Thanks

[DaBears]

Equifax will list the DoFD of the account in question. TU and Experian will show fall off dates. You can just subtract 7.5 yrs from that or you can call them to find out.

[guiness56]

If you get your reports from annualcreditreport.com or directly from the CRAs EQ will have the DoFD, TU and EX show a drop off date.  Subtract 7.5 years from that date and it is the DoFD or there about.