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12-28-2012 03:05 PM
I have a nasty charge off from HSBC over either a household bank or orchard card. My credit report states that the account was opened in 2004 which I believe is correct. It was charged off in June of 2008, with a DOFD in feb of 2008. My issue with this is I know for 100 percent certain that I defaulted in 2006 when I first started my business. I have disputed this with the CRA's but of course they confirm that the info is correct. This account was transfered to Arrow and then to LVNV with Northland trying to collect for them. I have no proof of this accusation as any proof I may have had went up in flames during an unfortunate fire.
12-28-2012 05:42 PM
Did you ever bring your account current following the 2006 date?
I'd start by contacting HSBC/CapOne and ask them for copies of statements between the 2006 and 2008 periods. For every 10 calls you make, I bet the CSR will brush you off. Be persistent and you'll connect with the right person/department to get those statements.
12-28-2012 06:49 PM
They would have the info because they are reporting it. Again, you'll have an uphill battle to find the right contact who has that info. I'd keep calling until you find the right person.
12-28-2012 06:50 PM
Disputing through the CRAs just gets you a sanitized dispute. You will need to do a direct dispute with the OC.
12-28-2012 08:38 PM
Great. Its really discouraging to see this kind of incorrect damaging info on my report. In reality it should be falling off shortly, not 2015. I have been lurking on this board for a few months after being denied an SBA loan for my business. I have has marginal sucess so far. Since my repair journey I have deleted a $8500 BofA charge off that was not mine, added 2 positive tradelines as before I had none . Sent Gw's to a few collections without any success at this point. Unfortunately my BK 7 will fall off in mid '13 along with all my positives besides my two new aquirred accounts. i have an average of 3 paid collections and two delinquent collections still on my reports, my file is pretty thin. My FAKO's have risen from mid 500 to upper 600's and I wont get a FICO until around april. Thanks for the input.
12-29-2012 01:30 AM
The statutory provision for reporting a DOFD is FCRA 623(a)(5).
For OCs, the relevanat requirement is section 623(a)(5(A), which defines the DOFD as
"the month and year of the commencement of the delinquency on the account that immediately preceded the action."
I agree to handle by way of direct dispute sent to the OC, thus ensuring your supporting documentation will be received by the creditor.
The inaccuracy is the incorrect reporting of the date of the first delinquency (the one that commenced delinquency) on the account contrary to the requirement of section 623(a)(5)(A).
If not brought back into good standing, there is no new commencement of delinquency.
Provide a copy of your account records or a copy of your credit report evidencing that date in your payment history profile. Whatever your best proof is.
They must conclude the dispute within 30 days and reply directly to you.
That only addresses the reporting of the charge-off by the OC.
Any collection requires that the debt collector also report the DOFD on the OC account to the CRAs within 90 days of reporting their collection.
I would also send a direct dispute to each debt collector, challenging their reporting of the same DOFD on the same basis.