Reply
Regular Contributor
hopingsoon
Posts: 231
Registered: ‎03-09-2013
0

Do CAs monitor your credit for changes and pounce when they see them?

Just got a call about an old charge off. I asked for the DoFD and she said the account was charged off from OC 11/30/2005. Is this outside of any possible SOL??? It was a credit card.

 

I am trying to rebuild and taking pride in clearing old debts so I answered the phone knowing it was going to be a CA. I asked about a settlement offer and was given one. Then I asked when I would need that amount by and I was told in two payments, the first being right then and there over the phone using my checking account. I was then told to hold so they could review my options. I was actually put on hold to be redirected to a supervisor who was very rude. I'm so sorry I even answered the phone. I am willing to pay but I can't pay $500 right now and not over the phone. I asked for the name of the CA and for the name of the Owner of the debt. She kept saying that her company has power of attorney over the debt. I'm just trying to get my facts straight. I asked if they have sent me anything through the mail because the last mailing I have regarding this debt was from a different CA. Again, I just want my facts straight. I'm trying to protect myself. 

 

Anyway, then she starts telling me how I must have a problem with my mail and they have done all they legally need to do. And how it doesn't make sense to her that I am worried about giving anything over the phone because I just applied for fingerhut and I gave them my information. She starts reading my CR to me about how I applied for this on this date. I just hung up. 

 

I tried several times to work something out and she just kept pushing and being rude. She said if I didn't give my email or pay over the phone that she would mark my account as a refusal to pay.  

 

UGH I HATE LIFE!

 



Starting Score: FAKOs EQ 537 TU 497 EX 517
Current Score 7/11/13: FICOs EQ 650 TU 659 EX 655
Goal Score: 675 Who am I kidding? Goal Score: 750+ :smileyhappy:


Take the myFICO Fitness Challenge
Established Contributor
DiabolicallyRandom
Posts: 775
Registered: ‎03-09-2013
0

Re: Do CAs monitor your credit for changes and pounce when they see them?

What state do you live in? Its most likely its past SOL. It can longer be reported on your reports.  I wouldnt let them bully me.  I would send them a DV right away.

Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008
0

Re: Do CAs monitor your credit for changes and pounce when they see them?

Yes, CAs will pull your credit report to see if you are capable of paying based on new credit, bills being paid etc.  Whether they can use this as a tactic to get you to pay is another thing and I am not sure if they can or not.

 

Harrassment is a violation of the FDCPA and it could well be. 

 

If this debt was CO in 2005, even though it cannot be on your CR, they can continue to collect forever, unless you live in WI or MS.  You can stop the calls and letters by sending a cease and desist.  It won't stop them from sending it to another CA and you would have to do the same thing.

 

Don't let them bully you and don't give them any of your banking information. 

 

As stated, send them a DV.

Regular Contributor
hopingsoon
Posts: 231
Registered: ‎03-09-2013
0

Re: Do CAs monitor your credit for changes and pounce when they see them?

I will pay this, whether it's a settlement or full balance. I'm not concerned about the continued collection attempts. I just want to make sure they can not report this to my credit or sue me. I live in Pennsylvania. I asked for the date on the account. She told me when it was opened and when the last payment was made. Then I asked for the delinquency and she said it was CO November 30, 2005. It was a CC. Just to be clear, this is outside of the SOL for reporting and suit??



Starting Score: FAKOs EQ 537 TU 497 EX 517
Current Score 7/11/13: FICOs EQ 650 TU 659 EX 655
Goal Score: 675 Who am I kidding? Goal Score: 750+ :smileyhappy:


Take the myFICO Fitness Challenge
Established Member
Apatt8201
Posts: 20
Registered: ‎10-17-2012
0

Re: Do CAs monitor your credit for changes and pounce when they see them?

They can report for 7 years past date of last activity. You are well outside of the SOL and the timeframe for allowable reporting.  If you do pay it, get it all in writing and keep it!!! Sometimes they will come back as another CA or even themselves again and want repayment??.... maintain evidence that you satisfied the debt!!!

Established Contributor
DiabolicallyRandom
Posts: 775
Registered: ‎03-09-2013
0

Re: Do CAs monitor your credit for changes and pounce when they see them?

Yeah, you are past the SOL in Pennsylvania, its typically 4 years.  Given your current situation I wouldnt do anything more than settle with them, only what I was able to make a payment for, considering they can no longer report or sue. I definitely wouldnt enter into a payment agreement with them just in case it resets your SOL.

Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008
0

Re: Do CAs monitor your credit for changes and pounce when they see them?


Apatt8201 wrote:

They can report for 7 years past date of last activity. You are well outside of the SOL and the timeframe for allowable reporting.  If you do pay it, get it all in writing and keep it!!! Sometimes they will come back as another CA or even themselves again and want repayment??.... maintain evidence that you satisfied the debt!!!


It is 7.5 years from the DoFD.  DOLA has nothing to do with reporting time.

Regular Contributor
hopingsoon
Posts: 231
Registered: ‎03-09-2013
0

Re: Do CAs monitor your credit for changes and pounce when they see them?


guiness56 wrote:

Apatt8201 wrote:

They can report for 7 years past date of last activity. You are well outside of the SOL and the timeframe for allowable reporting.  If you do pay it, get it all in writing and keep it!!! Sometimes they will come back as another CA or even themselves again and want repayment??.... maintain evidence that you satisfied the debt!!!


It is 7.5 years from the DoFD.  DOLA has nothing to do with reporting time.


How is DoFD determined though?? From when you first missed a payment and the bill was late then never paid again or from when the OC finally decides to CO??



Starting Score: FAKOs EQ 537 TU 497 EX 517
Current Score 7/11/13: FICOs EQ 650 TU 659 EX 655
Goal Score: 675 Who am I kidding? Goal Score: 750+ :smileyhappy:


Take the myFICO Fitness Challenge
Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008
0

Re: Do CAs monitor your credit for changes and pounce when they see them?

From the date of first delinquency that lead to the CO or collections.

 

If you became late in Mar 02 that is your DoFD.  If you bring the account current in May 02 there is no longer a DoFD because you are current.  Then in July 02 you become late again and never bring the account current and in Sep 02 they CO or send it to collections, July 02 would be your DoFD.

 

 

Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
0

Re: Do CAs monitor your credit for changes and pounce when they see them?


hopingsoon wrote:

Just got a call about an old charge off. I asked for the DoFD and she said the account was charged off from OC 11/30/2005. Is this outside of any possible SOL??? It was a credit card.

 

I am trying to rebuild and taking pride in clearing old debts so I answered the phone knowing it was going to be a CA. I asked about a settlement offer and was given one. Then I asked when I would need that amount by and I was told in two payments, the first being right then and there over the phone using my checking account. I was then told to hold so they could review my options. I was actually put on hold to be redirected to a supervisor who was very rude. I'm so sorry I even answered the phone. I am willing to pay but I can't pay $500 right now and not over the phone. I asked for the name of the CA and for the name of the Owner of the debt. She kept saying that her company has power of attorney over the debt. I'm just trying to get my facts straight. I asked if they have sent me anything through the mail because the last mailing I have regarding this debt was from a different CA. Again, I just want my facts straight. I'm trying to protect myself. 

 

Anyway, then she starts telling me how I must have a problem with my mail and they have done all they legally need to do. And how it doesn't make sense to her that I am worried about giving anything over the phone because I just applied for fingerhut and I gave them my information. She starts reading my CR to me about how I applied for this on this date. I just hung up. 

 

I tried several times to work something out and she just kept pushing and being rude. She said if I didn't give my email or pay over the phone that she would mark my account as a refusal to pay.  

 

UGH I HATE LIFE!

 


What you have is commonly referred to as a "Zombie Debt."  It is passed the SOL so they cannot take you to court, and it is passed the CRTP which means they cannot report it to your CR.  Her marking your account as refusal to pay means absolutely nothing.  You could send them a cease and desist and they could not contact you concerning this debt again.

 

If it were me dealing with this, I'd make the offer of maybe 20% and have them send me paperwork stating this debt was settled and now non-existent.  There's really nothing more they can do about it, they can ask you to pay, but can not make you pay or report it.


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+