Is CITI and LVNV trying to Re-Age my report??!!??

[Anonymous]

I currently have a collection/CO that is scheduled to fall off my TU 02/10. This is a voluntary repo from over 7 years ago. I was virtually on verge of dying. my recovery took over 18 mos. While I was rehabbing, my LTD insurer cancel my coverage because my doctor sent them update paperwork one week late.  having no income and unable to work, I pretty much lost everything. I tried to work it out w/Transouth, they were unsympathetic a**holes. First held by Transouth, Citifinancial bought them out after the repo. Citi originally reported it as a repo. Then after it was sold at auction, they showed it as a zero balance. Fast forward to 2007. LVNV shows up on my Cred Reps, showing a +5K balance and showing as an “open collection account”. I disputed the accounts because of errors. TU just verified the accounts. The Citi account was never updated, but TU changed the pay status on the account three times from Repo, to Charged off as bad Debt, to “Payment after CO/collection” which showed up on my report in May of 2008, with a “date paid” on 03/2007. I never made any payments on this account after the repo. I disputed this to no avail.

My question is this, I want to dispute this because TL is more than 7 yrs past the DOLD. Plus I think that they are trying to re-age the account by showing a payment on it, which would reset the SOL and open me up to civil action. In fact this Citi account now shows as a positive TL on EX after being a negative for 7 yrs because it is showing a payment made by me in 03/2007. Help!! What should I do?

CITIFINANCIAL AUTO (June 2007 TU)

Balance:  $0  

Date Updated:  07/2003  

High Balance:  $17,xxx 

Past Due:  $0 

Terms:  $3xx for 60 months 

Pay Status:  >Repossession<  

Account Type:  Installment Account  

Responsibility:  Individual Account  

Date Opened:  11/1998 

Date Closed:  07/2003 

Loan Type: Secured

Remark: >Repossession<

Estimated date that this item will be removed:   02/2010

LVNV FUNDING LLC (June 2007TU)

Balance:  $5,xxx  

Date Updated:  05/2007  

High Balance:  $5,xxx

Collateral:  12 CITIFINANCIAL 

Past Due:  >$5,xxx< 

Pay Status:  >Collection Account<  

Account Type:  Open Account  

Responsibility:  Individual Account  

Date Opened:  03/2007 

Loan Type: Factoring Company Account

Remark: >Placed for collection<

Estimated date that this item will be removed:   08/2009

CITIFINANCIAL AUTO (Oct 2007 TU)

Balance:  $0  

Date Updated:  07/2003  

High Balance:  $17,xxx 

Past Due:  $0 

Terms:  $3xx for 60 months 

Pay Status:  >Charged Off as Bad Debt<

Account Type:  Installment Account  

Responsibility:  Individual Account  

Date Opened:  11/1998 

Date Closed:  07/2003 

Loan Type: Automobile

Remark: Purchased by another lender

Estimated date that this item will be removed:   02/2010

LVNV FUNDING LLC (Oct 2007 TU)

Balance:  $6,xxx  

Date Updated:  05/2008  

High Balance:  $5,xxx 

Collateral:  12 CITIFINANCIAL 

Past Due:  >$6,xxx< 

Pay Status:  >Collection Account<

Account Type:  Open Account  

Responsibility:  Individual Account  

Date Opened:  03/2007 

Loan Type: Factoring Company

Account Remark: Account information disputed by consumer

Estimated date that this item will be removed:   08/2009

CITIFINANCIAL AUTO (May 2008 TU)

Balance:  $0  

Date Verified:  07/2003  

High Balance:  $17,xxx

Past Due:  $0 

Terms:  $3xx for 60 months 

Pay Status:  >Payment After Charge Off/Collection<

Account Type:  Installment Account  

Responsibility:  Individual Account  

Date Opened:  11/1998 

Date Closed:  07/2003 

Date Paid:  03/2007 

Loan Type: Automobile

Remark: Purchased by another lender Estimated date that this item will be removed:   02/2010

LVNV FUNDING LLC (May 2008 TU)

Balance:  $6,xxx  

Date Updated:  11/2008  

High Balance:  $5,xxx 

Collateral:  12 CITIFINANCIAL 

Past Due:  >$6,xxx< 

Pay Status:  >Collection Account<  

Account Type:  Open Account  

Responsibility:  Individual Account  

Date Opened:  03/2007 

Loan Type: Factoring Company

Account Remark: Account information disputed by consumer

Estimated date that this item will be removed:   08/2009

CITIFINANCIAL AUTO (Sept 2009 TU)

Balance:  $0  

Date Verified:  07/2003  

High Balance:  $17,xxx

Past Due:  $0 

Terms:  $3xx for 60 months 

Pay Status:  >Payment After Charge Off/Collection<  

Account Type:  Installment Account  

Responsibility:  Individual Account  

Date Opened:  11/1998 

Date Closed:  07/2003 

Date Paid:  03/2007 

Loan Type: Automobile

Remark: Purchased by another lender

Estimated date that this item will be removed:   02/2010

This is how it shows on EX as a positive TL:

CITI AUTO

Status:  Transferred,closed.

Status Details:  This account is scheduled to continue on record until Mar 2017. (WTF!!!)

This item was verified and updated on May 2008.

Date Opened: 11/1998 Reported Since: 03/2007

Date of Status: 03/2007

Last Reported: 03/2007

Type: Installment Terms: 60 Months

Monthly Payment: $0

Responsibility: Individual

Credit Limit/Original Amount: $17,410

High Balance: NA

Recent Balance: NA

Recent Payment: NA

Creditor's Statement:  Purchased by another lender.

[JoeBJay20]

Welcome to the Forums!

In terms of credit reporting, the most important date is the Date of First Delinquency (DOFD), the date at which you first became late and never subsequently became current.  Negative accounts fall off your report 7-7.5 years after this date.  We can start with the easy part, the Citi account that's reporting positively on EX, don't touch it.  That's an error in your favor, and now you have an extra positive tradeline as a result.  (Do a small dance if you like)  You should be able to dispute the LVNV reporting as obsolete, since it appears to be past the 7 year reporting period.  In the case that LVNV attempts to sue, they would have to prove you made a payment, and your own records should disprove that.  If you do get sued, it's important that you show up to the court date and use expired SOL as your defense (assuming the SOL in your state has been passed).

[Anonymous]

thanks for your reply, maybe I wasnt clear in my post. the lvnv neg has fallen off of all of my reports. the citi neg is the only one left and its on TU. so i should dispute it. Does the 7 or 7 1/2 rule apply to Citi neg. Since Citi bought the account from Transouth after my repo, are they considered the original creditor. I just want to be very specific in my dispute. Thanks in advance.

[JoeBJay20]

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@Anonymous wrote:
thanks for your reply, maybe I wasnt clear in my post. the lvnv neg has fallen off of all of my reports. the citi neg is the only one left and its on TU. so i should dispute it. Does the 7 or 7 1/2 rule apply to Citi neg. Since Citi bought the account from Transouth after my repo, are they considered the original creditor. I just want to be very specific in my dispute. Thanks in advance.

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No, the OC is always the OC no matter how many times the account changes hands.  From the looks of things of things, it's due to fall off in February.  So unless you have a pressing need to get it off your report immediately, I would just wait to see if it falls off on its own in a few months, or perhaps sooner.