Is my credit file being deleiberately poisoned?

Anonymous · ‎01-14-2017

I have several charge offs that are approaching the 7 year FCRA reporting limit. On advice from this board I opened up a secured card a couple of months ago and keep my balance below 10% at all times with the balance paid in full monthly and on time. This has not only had no effect on my credit score, I am now seeing huge (60 point) reductions in my credit score with no apparent reason except that the charge offs have reported their TL again. I know this because the TL reads "Date of Delinquency June 2010" and "Date Reported January 2017". ALL of my baddies are from 2010 when my financial world collapsed. With the exception of my mortgage I was unable to pay on any of them from then until now. They have all passed the Statute of Limitations for suit in my State.

It seems that with some of the Junk Debt Buyers, now that the debt is Out of Statute for Suit, the closer it gets to being Out of Statute for Credit Reporting the more they re-report these old items.

What effect on credit score does this constant re-reporting have? Is it done to make a 7 year old account look new? The latest one drove my credit scores below 600.

Anonymous · ‎01-14-2017

@Anonymous wrote:
I have several charge offs that are approaching the 7 year FCRA reporting limit. On advice from this board I opened up a secured card a couple of months ago and keep my balance below 10% at all times with the balance paid in full monthly and on time. This has not only had no effect on my credit score, I am now seeing huge (60 point) reductions in my credit score with no apparent reason except that the charge offs have reported their TL again. I know this because the TL reads "Date of Delinquency June 2010" and "Date Reported January 2017". ALL of my baddies are from 2010 when my financial world collapsed. With the exception of my mortgage I was unable to pay on any of them from then until now. They have all passed the Statute of Limitations for suit in my State.

It seems that with some of the Junk Debt Buyers, now that the debt is Out of Statute for Suit, the closer it gets to being Out of Statute for Credit Reporting the more they re-report these old items.

What effect on credit score does this constant re-reporting have? Is it done to make a 7 year old account look new? The latest one drove my credit scores below 600.

As long as they are updating monthly it will continue keeping your scores down. The reporting let's FICO know the debts continue to be delinquent.

Anonymous · ‎01-14-2017

So what you are saying is that the old "wisdom" of time lessening the effect of derog TL's is no longer true - that as long as they keep reporting the credit score will not recover. Not only has mone not gone up in 7 years, it has gone down considerably in the past 2 weeks.

Anonymous · ‎01-14-2017

@Anonymous wrote:
So what you are saying is that the old "wisdom" of time lessening the effect of derog TL's is no longer true - that as long as they keep reporting the credit score will not recover. Not only has mone not gone up in 7 years, it has gone down considerably in the past 2 weeks.

A paid collection or chargeoff will begin to age once they are paid and reporting zero. They should no longer update monthly once paid/settled.

Unpaid does not age. Unless they don't update. But these are the reindeer games they play. They let it sit and idol with no updates and then start whacking you again with updates.

MrsCHX · ‎01-14-2017

Sorry OP no real advice. I'm wondering though, since the DOFD was June 2010 wouldn't they still fall off June 2017??

NFCU: $25,000; PenFed Power Cash Rewards: $3,500; PenFed Gold: $2,500; Capital One: $2,300; Nordstrom Visa: $2,000; Credit One: $1,250
Amazon: 800; Kohls: $1,500

Anonymous · ‎01-14-2017

They should fall off in June 2017 but in the mean time they seem to be going out of their way to cause as much damage to my credit score as possible. It seems a 6 year old charge off has 5 times as much effect on a Credit Score as a 6 month old on-time credit card. So much for "time heals all credit wounds".

I will tell you this, though - any of these baddies on my credit file on July 1 is getting sued by me for a FCRA violation of re-aging, and the evidence will be compelling, and any CRA that keeps the TL on after June 30 also gets an invitation to Federal District Court from me to explain to a Judge why they feel FCRA does not apply to them. I am watching it like a hawk with a stop watch.

RobertEG · ‎01-14-2017

In general terms, the longer a debt remains delinquent, the more impact it has on your credit score, or at least the impact of the delinquency does not lessen.

For that reason, a 90-late has more impact than a 60-late.

Updated reporting by a debt collector is a positive statement that a delinquent debt remains unpaid, and is thus longer in its delinquency.

They are not making the debt appear new, they are making it appear older.

Once a debt is paid, updated reporting of continued collection must cease, thereafter freezing the net period of delinquency and permiiting the effect to age.

Remedy kicks in no later than 7 years plus 180 days from DOFD, wherin federal law mandates exclusion of any collection from a consumer credit report.

Until that time, it is not inconsistent for the impact of an unpaid debt to either increase or to cease to lessen with time.

rmduhon · ‎01-14-2017

Unfortunately it's a 7.5 year CRTP, not 7. CRA's generally exclude at 7 years but aren't required to so you wouldn't be able to bring a suit until next January.

Anonymous · ‎01-14-2017

@rmduhon wrote:
Unfortunately it's a 7.5 year CRTP, not 7. CRA's generally exclude at 7 years but aren't required to so you wouldn't be able to bring a suit until next January.

I can't think of a better Christmas/Chanukkah/Kwanzaa present than a Federal Court Summons.

To my creditors who rate jacked me, balance chased me and drove my credit score into the trash even though I had never missed a single payment:

OK- fellas - you get your way with me for 1 more year. Then I get to play hardball.

rmduhon · ‎01-14-2017

Most likely it will be removed st 7 years, I just wanted to make sure that you knew there's a small chance that it wouldn't. If it's reporting on your TU you can start trying for an EE