I believe i caught an OC (Pioneer Military Lending) re-aging an account please help

[tipofthespork]

I've mentioned this on here before but now i've done more research into it. I defaulted on a loan with Pioneer Military Lending. the Date that i originally went past due was september 2005 (30 day late).

this account was charged off may 2006.

in june 2006 it was marked as OK. (i never made a payment.)

July 2006 until July 2011 it was marked KD (key derogatory)

because i was ignorant of the credit reporting rules/laws and methods to get things done i disputed it in august 2011. they verified and the account went back to being a charge off.

My problem is that the expected date for this to drop off my report is now May 2018. My first derog that led to CO was in september 2005 not August 2011. Huge difference!

What can i do? Should i dispute? BBB? FTC? AG? thanks for any help

[RobertEG]

You need to determine whether or not they reported an actual update of the DOFD to the CRA.

Does your credit report actually show a reported DOFD with the later date? Or are you just relying on a statement of an "expected date?"

As you are aware, the credit report exclusion date is based ONLY on the reported DOFD.

The OC was required, within 90 days of their first reporting of the charge-off to the CRA, to have reported the DOFD on their account.

So your credit file should have contained a reported DOFD shortly after the CO.

What do your older CRs show as to their reported DOFD?  Is their evidence that their reporting has changed?

As a note, FCRA 623(a)(5)(A)(iii) states that no DOFD can be reported on a charged-off account that is later than the date of their charge-off.

If your reports establish the date of charge-off, and a DOFD is reported that is later than that date, you have a clear violation of FCRA 623(a)(5)(A)(iii).

[tipofthespork]

As usual thanks Robert! I am going based on the "expected drop off date". I was attempting to figure out what was going on by looking at the data info. Why would they charge it off (first time) in June 06. Then mark it "ok" in July 06? I plan to call the cra's first thing in the morning.

[tipofthespork]

UPDATE! So I talked with experience today and the CSR said that since it was marked "OK" indicating current in June 2006 and no other information added until August 2011 (when I disputed and they updated to CO, that the DOFD is now 1/8/11. I know for a fact I didn't make any payments or any arrangements to update this account. The original DOFD was September 2005 with a CO date of May 2006. Any ideas?

[tipofthespork]

Should be experian. Stupid phone

[AndySoCal]

It looks like when Experian updated the status of account to Charge off they also update the drop off date to the date they reported theupdate. I do not think it OC the reaged it . I would lean more towards Experiian. If it was late since July 2006 with no status change back to current your date of first delinquency would be 7/2006.  What is the payment history Epxerian is reporting now?

[tipofthespork]

Ok I'm a bit confused. September 2005 was the DOFD. May 2006 was the charge off date. June 2006 it was marked OK by the creditor. August 2011 they began reporting as a charge off again. Experian is telling me they can't do anything and I need to contact the creditor. The creditor is now refusing to give me any of my account info until I give them my work address, work phone and all home info as well. Is it time for an attorney? The re reporting of the charge off in August 2011 has changed the DOFD from sept 2005 to August 2011. I have never made any deal or payments since prior to September 2005

[RobertEG]

You need evidence of what was actually reported as the DOFD by the OC, not assumptions or expected fall-off dates.

They were required to have reported the DOFD to the CRA within 90 days of reporting the CO.  The actual date of the CO, or when the CO was reported, is not really relevant.

I would send the CRA written request under FCRA 609(a)(1) for the actual FCRA Compliance/Date of First Delinquency that was reported.

Then you no longer need to speculate or argue with anyone to get the factual reporting info.

Section 609(a)(1) requests must be accompanied by the current fee of $11.00.

[tipofthespork]

UPDATE!

Ok so here is what i did. I gathered bank statements and pay stubs. I reviewed everything and called experian and equifax. The financial statements i have show that the last payment i made to this company was March 2006. This SHOULD make the DOFD April 2006. the CRA's had it as follows:

Equifax- July 2007  Experian August 2011. Either way this puts it past the 90 day requirement for reporting a charge off right?

Today i wrote a lengthy letter to the company explaining the investigation i did and what i found. I explained what i found in my consumer reports and the huge difference between the 2 agencies. I mentioned requirements in regards to FCRA 629. I also made vague mentions of my states AG, the FTC, and BBB.

I requested that they either correct the TL and make it report accurate or delete it all together. I sent this via email as well as CMRRR. hoping they will respond to the email and get things rolling faster. I requested they provide me with a complete history of my account so that i may compare it with my financial documents. Do i have grounds to demand this?

Was this the right move or did i overstep my bounds? Thanks for the help

[RobertEG]

No, I dont think you overstepped your bounds.  Your bounds are your entitlement to accurate reporting.

If you want to set an actual period on their investigation of the accuracy of their reported DOFD, since you have evidence supporting the relevant dates, you can additionally compel a response within 30 days by sending them a direct dispute under FCRA 623(a)(8).