Deleted from Credit Report--is it gone for good????

[Anonymous]

Hi all!

Zenith Acqusitions (CA) was showing up on all three bureaus as the collector for an old Salute Visa card. It's $584. In effort to resolve, in Oct i started with a certified request for validation. Got no written response, but what they did do is start calling me. Never answerd the phone. After 30 days i sent a second certified request for validation, using more legal language and a slighly harsher tone. Told them if i didnt get a resonse in 10 biz days i wanted the item removed. Also said i didnt want to b contacted by phone. When i sent the second letter also decided to attack from another angle---disputed the debt through all three bureaus. 

Two things happened after that. First, Zenith sends me a letter saying that they have investigated the matter and determined the debt to be mine. They included a generic looking printout of charges on the old card that looked like it came from their system, not the cardholders. Nowhere on this prinout was my name or address included or anything that was from the orginator. i figured my next move was to offer PIF for deletion; if that didnt work, PIF for updating the acct to PIF with all the bureaus.

But when i got a copy of my updated 3in1 report a few days ago, the item from Zenith Acqusitions was marked "deleted"!

I dont know if I can do the happy dance yet or not?? Is this really a done deal or can it pop back up on the report a few months from now?? Can they turn around and sell it to someone else? If I need to do something else regarding this acct, what should it be? We want to approach a lender for a home loan in the summer of 2012, so all baddies have to have a resolution that will be acceptable in the lender's eys. Additional acct details are below-- Many thanks!

CA: Arrow Financial

$: 584

Placed for collection: 7/2008

Est. Dropoff Date: 03/2015

State Opened: TX, SOL is 4 yrs

[llecs]

If it was removed due to the dispute, they can re-add it, but the CRA has to send you notice first. Likely, Zenith is gone forever. They'll likely sell it to a new CA so keep an eye on your reports, especially your soft inquiries. You may also want to consider opting out if you are applying for a mortgage in the future.

For Arrow, send a DV. If they verify and you agree, then send a PFD.

[JM-AM]

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@llecs wrote:

If it was removed due to the dispute, they can re-add it, but the CRA has to send you notice first. Likely, Zenith is gone forever. They'll likely sell it to a new CA so keep an eye on your reports, especially your soft inquiries. You may also want to consider opting out if you are applying for a mortgage in the future.

For Arrow, send a DV. If they verify and you agree, then send a PFD.

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Just want to remind everyone while opting out is usually a good thing to do when applying for a mortgage, the OC and or the CA who is making collection attempts on the account can legally pull a hard pull from your account even if you have opted out.

[RobertEG]

The underlying issue behind it all is whether or not you still have a legitimate unpaid debt.  If you do, then someone can report either that they own the debt or have been assigned collection authority on the debt.  There is no time limit for such reporting.

The burden that falls to the CRA to determine whether they (the CRA) can include this information in any credit report they issue.  For inclusion of a CA in your credit report, the CRA will look first at the DOFD on the OC account.  They then add 180-days to that DOFD, then 7 years.  That is the date which, thereafter, the CRA must cease inclusion of reporting of any CA on the OC account.  They dont actually delete the CA from your credit file.

Thus, items of information can fall from your credit report for two different reasons.  First, the party who reported the information actually deleted it from your credit file, or second, it is still in your credit file, but the CRA is prohibited from normally inclduing reporting of it in your CR after certain periods, such as 7 or 7 1/2 years. However, those 7 or 7 1/2 year periods are not absolute.  FCRA 605(b) permits the CRA to continue to include, in any credit report they issue, any information in your credit file if it relates to a credit inquiry that involves  credit or insurance transaction of $150,000 or more (such as most mortgage loan inquiries), or is related to an employment inquriry related to a job with an expected income of at least $75.000.

If a debt collector actually deletes the information from your credit file, then of course, the CRA has no derog to calcualate its credit report deletion date.

If a CA is deleted on the basis of a disptue, it can be re-inserted, but only if the debt collector files a "certificate of accuracy of the information" with the CRA.  The CRA must notiffy you, within 5-days of such reinsertion,  of their reinsertion of information deleted after resolution of a disptue.  See FCRA 611(a)(5)(B).

[Anonymous]

Hmmm.

Is there a way for me to figure out what specific action prompted the deletion---whether it was initiated by the CA or if it was in response to my dispute? Would TU or EQ confirm this if i contacted them, or, even better, tell me details, like if the info the CA provided in response to the dispute was insufficient or beyond the time allowed for the investigation? Thanks!