Inaccurate Collection Date Help Please!

Anonymous · ‎10-29-2015

I have a paid collection on all 3 CRA's from AT&T for $121, and the orginal date of deliquency is June 2012.

All three bureau's list this in MyFico reports as a "recent collection" from Enhanced Recovery stating "Your most recent collection occurred1 Year, 4 Months ago".

As I understand it, the occurance should be the orginal date of deliquency. I realize that AT&T sold my debt to ER, but shouldn't they recoginize this debt as 4 years and 3 months old, and not the date that the CA purchased the debt?

Also, I have tried to get them to correct the date because I am going to purchase a home in the next six months and all of my disputes came back as the debt is accurate. It is the only collection I have and showing as a recent makes it much worse than it is. Am I just stuck with that date? Or do I have any recourse to have it updated accurately?

I called and spoke with a CSR at Experian and they assure me that creditors will know the difference on the dates because the date for removal is June 2019. HOWEVER, I know this is not true because I just acquired a car loan through my bank and had to bring in proof that the debt was over 4 years old. Even Fico doesn't recognize the debt as 4 and 1/2 years old.

I would appreciate any feedback or experience regarding this situation. I have worked really hard on rebuilding/building my credit from nothing after my divorce and it's making me nuts that this is inaccuarate. Yes, I couldn't pay my bill (I cancelled the account and paid it when I could) and take responsibility for that, but that happened almost 5 years ago!!! I haven't missed a payment on any cc's or loans and well....arg.

Thanks in advance.

RobertEG · ‎10-29-2015

The reporing appears accurate.

The DOFD controls when the collection must become excluded from your credit report. The date that the debt collector obtained or reported the debt has no impact on the credit report exclusion date, which can be no later than 7 years plus 180 days from the reported DOFD.

However, the date the debt collector reported their collection can be years later, and they can then report the Opened date for their collectin as the date they obtaned their collection authority. Thus, the date of the collection is separate from any consideration of date of first delinquency or date of the collection.

The recency of the collection refers to the fact that you still had a delinquent debt as of the time the debt collector obtained the debt.

That is accurate.

I would advise attempts to secure a good-will deletion of the collection by the debt collector rather than pursuing any assertion of inaccurate or improper reporting.

If they delete, any issue of the recency of the collection will obviously become moot.

Anonymous · ‎10-30-2015

I replied to you also in the DOFD! thread. As for a pay for delete, I tried when I paid this collection and ER said bluntly no, they do not do that. My real problems are a) my Fico score see's this as a new collection (as opposed to an aged collection that gradually does less harm to your score) and LENDERS for some damn reason can not grasp the fact that this is not the orginal creditor, hence, the date they reported the collection is not the same as the date I incurred it. Also, I closed this account BEFORE I was in collections and I want the CRA to report this fact. It is important to me because I do take my financial obligations seriously. This is my only collection account and it's making me crazy. ARGGGGG.

Anonymous · ‎10-30-2015

@Anonymous wrote:
I have a paid collection on all 3 CRA's from AT&T for $121, and the orginal date of deliquency is June 2012.

All three bureau's list this in MyFico reports as a "recent collection" from Enhanced Recovery stating "Your most recent collection occurred1 Year, 4 Months ago".

As I understand it, the occurance should be the orginal date of deliquency. I realize that AT&T sold my debt to ER, but shouldn't they recoginize this debt as 4 years and 3 months old, and not the date that the CA purchased the debt?

Also, I have tried to get them to correct the date because I am going to purchase a home in the next six months and all of my disputes came back as the debt is accurate. It is the only collection I have and showing as a recent makes it much worse than it is. Am I just stuck with that date? Or do I have any recourse to have it updated accurately?

I called and spoke with a CSR at Experian and they assure me that creditors will know the difference on the dates because the date for removal is June 2019. HOWEVER, I know this is not true because I just acquired a car loan through my bank and had to bring in proof that the debt was over 4 years old. Even Fico doesn't recognize the debt as 4 and 1/2 years old.

I would appreciate any feedback or experience regarding this situation. I have worked really hard on rebuilding/building my credit from nothing after my divorce and it's making me nuts that this is inaccuarate. Yes, I couldn't pay my bill (I cancelled the account and paid it when I could) and take responsibility for that, but that happened almost 5 years ago!!! I haven't missed a payment on any cc's or loans and well....arg.

Thanks in advance.

No, that is simply NOT a correct understanding. DoFD simply determines how long the OC record and the collection record stays on your reports. "When" the collection ocurred is when it occurred - that is, the date the collector got authority to collect the debt. This is not incorrect reporting, it is simply the way the FICO scoring model works. Yes, it sucks rotten eggs, but it is what it is. Your only legitimate option is to request GW deletion from the CA reporting the collection.

Anonymous · ‎10-30-2015

Well, thats why I asked

. So any insight into why TU and Equifax see this as a newer collection, both state on Fico that it is 1 year and 4 months old and not the actual age of the collection based on their own date of first deliquency and when it will fall off?

RobertEG · ‎10-30-2015

Take an extreme example to make the point....

A collection reports today, and is thus as recent as it could possibly be.

Tomorrow, 7 years plus 180 days from the DOFD occurs, and the collection is then excluded from your credit report.

FICO chooses to take into account that you still have a debt that remains unpaid up until at least today, and scores it accordingly.

That is a FICO issue, not an issue of improper statement that you have a recent collection.

Anonymous · ‎10-31-2015

Well I have one that was paid last February and they updated Last Reported, Reported Since, and Last Payment to THIS MONTH after a dispute last week.

Anonymous · ‎11-06-2015

Wow SeveredFinger, that really sucks. Did your score drop at all?