@CBARR82 wrote:My TU report shows HSBC account that was charged off. It is a legit debt that I occurred when I was younger and not nearly as wise! Here is my question...Shouldn't this be set to fall off as of last month?? Here is a little information on the account.
Date Opened; 11/14/2006
Balance; $0
Date Updated; 8/31/2009
Payment Received; $0
Last Payment Made; 6/27/2007
Pay Status; Charged Off
Date closed; 8/12/2008
<Max Del of 120 days in 05/2008 and in 07/2008 for $60>
To me the report reads I abounded the account in 2007. Is this correct or am I reading into this wrong? Thanks in advance for the help!
Time on your report is set by the DoFD, from info here if last pmt was 6/07 and there was a balance remaining on the account the earliest DoFD would be 08/07, The DoFD is the first 30 day late that leads to the CO and it does need to be reported by the OC. What I am seeing by the info provided is not what I just said but most likely a DoFD of 02/08.... Time it can report is 7.5 yrs from the DoFD.
Last Payment Made; 6/27/2007
Looks like they kept it open for a long time before CO.
I would dispute as too old to report. Hopefully this gets removed. But can report for 7.5 yrs.
Looks like they kept it open for a long time before CO.
I would dispute as too old to report. Hopefully this gets removed. But can report for 7.5 yrs.
@CBARR82 wrote:Awesome reply and it makes more sense now. The CA also reports the last payment made 6/2007. How can you assure yourself of a DoFD without personal records showing when you made it? Would that not be last payment made or am I missing something here?? This guy has to go! Its HSBC and Portfolio is the CA. Thanks again
Its not the last payment and it should be reported by the OC (its the law), some OCs will abscond the law however so you may have to obtain a hard copy of either EX or EQ in order to see what they have set the exclusion date at, they typically do it at the 7 year mark instead of the 7.5. If you have the statements you can figure it out from them as well.
@CBARR82 wrote:So should I address this with the CRA or with the OC, HSBC? Portfolio sent me a DV but it didnt state a DoFD juat saying they aquired itvin 2009 with a balance. Not sure how to approach this. It accounts for 5 derogs total. Thanks.
To get the DoFD recorded correctly I would do a direct dispute with the OC, HSBC but I would not do so in this case as its not updating since 09. Are you saying that there are 4 CAs reporting on the same debt from HSBC?? (5 derog) If Portfolio send you a notice of dunning you will send them a DV with request for accounting.
@CBARR82 wrote:When I said 5 I meant HSBC across all 3 and Portfolio reporting on 2. Sorry for the confusion. Does this change anything?
oh okay, no it doesnt change anything. If there had been more than 1 CA that would be illegal as only 1 can report at a time, the one that has the authority to collect.