Is this considered reaging???

[Anonymous]

In my research to clear up a baddie on my credit report, I came across some very interesting information from 2 old accounts that had been settled.  Can anyone look at these and tell me if I can go after these guys for reaging or other violations?   They have been haunting me forever!!!!  I settled other accounts during this timeframe that have dropped off and I don't understand why these keep hanging on!  Thanks for any info you can give me! 

************info deleted in the event I take legal recourse

[pizzadude]

The date of first deliquency ( DOFD ) for these accounts will determine the Credit reporting time period ( CRTP ).    Any idea what the DoFD is for these two accounts ?

[RobertEG]

They both appear to be OC accounts, so the DOFD would only be relevant if the OC reported a charge-off.

Otherwise, the date of exclusion of delinquencies would 7 years from the date of each delinquency.

The reporting of a settlement denotes a prior delinquency or derogatory status of the account, which would necessarily have occured prior to the settlement.

If settlements occured sometime in  2004-2006, that implies an adverse item still reporting with an earlier date.

What is needed is the date of each derog currently reporting on each account.

"Continue on record" could be referring to derogs, or the accounts themselves, which the CRA could choose to delete after approx 10 years from closing.

[Anonymous]

Thanks for the info, here is info that I have.  I apologize for the length and info, but the more I look at this now that I understand it more (thanks to all of you), the stranger these appear.  Hopefully you can help me decipher.  I took all of this info off the 10/2006 credit report copy I have.  Thanks for your help!

************info deleted in the event I take legal recourse

[RobertEG]

Since both are reported as charge-offs, the first focus should be on determining the DOFD.

Look back over the history of each, and find the date that you first went delinquent, and thereafter did not bring the account back into good standing (i.e., no longer delinquent).  DOFD resets each time you bring the account back into good standing, and a new DOFD then occurs upon the next first delinquency.

The date of the charge-off or any subsequent updates to that reporting are irrelevant.

Each CO must cease to be included in your CR after 7 years plus 180 days from the DOFD.

The Target account, for eample, shows reporting of a CO in 11/2004.  A charge-off is normally not taken until the debt is around 120 days delinquent.

Most likely, the DOFD on the Target is in mid-2004, making its CR exclusion date around the end of 2011.

The WFNNB account apparently shows an intitial charge-off, and then updates reporting that the status remained as a CO.  Again, all of those dates are immaterial to its utlimate exclusion.  The DOFD on that account could be anywhere from 5/2003 to 7/2006, depending upon whether it was delinquent during that period.

Hopefully, your account records will reveal its actual DOFD.

[Anonymous]

************info deleted in the event I take legal recourse

Any idea why they would do a last reported update 6 and 7 years after being legally settled?   I paid what they offered on the settlements, if this is them just messing with me, I would love to be able to stick it to them.  

Thanks again for all the info on here, I wish I had known about this site back then, I would have done things much different!

[Anonymous]

I have my proof that these 2 accounts were illegally reaged! 

************info deleted in the event I take legal recourse

[RobertEG]

If you are contemplating legal action, I strongly suggest you consult an attorney. 

The FCRA segments liabilty for non-compliance into two categories... willful non-compliance (FCRA 616), which permits seeking both actual an punitive damages, and negligent non-compliance (FCRA 617), which permits seeking only of actual damages. 

Additionally, section 618 places a statute of limitations on actions, which is "not later than the earlier of (1) two years after the date of discovery by plaintiff of the violation that is the basis for such liability, or (2) 5 years after the date on which the violation that is the basis for such liability occurs."

[Anonymous]

Sorry to remove most of the info on this.  An attorney in the family suggested that I remove any specific info and names in the event I do follow through with legal action.  I will keep you updated as I start the process. 

[RobertEG]

I would also suggest that you get firm documentation of what was actually reported as the DOFD, and who reported it.

That legal record resides in the CRA files, to which you have authority to receive under FCRA 609(a)(1), for the fee of $11.00.

That is the key evidence.