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I am trying to undertand this old item:
This is based on a old Sears account with DOLA listed Jun2003, but somehow shows opened Sep 06????? Moreover, my Experian CR shows that till account will be deleted Until Sep 2012. I dont get it.
Is this account past SOL already? ( 4 years ) or someone this got reaged and the SoL starts based on Sep 2006
I have been reading a lot about this company and how shady they are. It keeps reporting late as of April 2010.
Lvnv Funding Llc
Apr, 2010 |
Sep, 2006 |
Jun, 2003 |
Not Reported |
Not Reported |
XXXXXXXX1835 |
Factoring Company Account |
Not Reported |
$239 |
Not Reported |
Open Account |
Individual Account |
Not Reported |
Do you know the Date of First Delinquency (DOFD) for this account?
Pull your free reports from https://www.annualcreditreport.com/cra/index.jsp if you have not done so already. They are directly from the CRAs and show more detail and information than a 3rd party report.
Accounts come off your report based on the DoFD, which is provided by the OC and cannot be changed. Your state SOL (time frame to bring a lawsuit) has nothing to do with how long something stays on your CR. Even if that SOL was reaged, the item would still come off according to the DoFD. If that date has been changed, and you can provide proof, there has been a violation and you can sue them.
Your state SOL starts with the last payment you made to the creditor. I could be the same time as the DoFD or it could be later, depending on if any payments were made on the account.
You can not use DOLA as a payment date because that date can change for many reasons other than payment.
The original creditor was Sears
As stated in another post related to this, neither this account nor the LLVN Funding one ( which i assume bought the debt from ) have any lates posted ( 0, 0 , 0 ) , so i have no idea when the DoFD was. I best estimate based on the charge off date of Jun 2003 is that DoFD would be around Mar 2003 ( 90 days late ). If that's the case then SoL would have ended some time early 2007 right?
Or LLVN Funding buying the account of Sears in some way reage my account and the SoL is based on the June 2006 ( Account opened date listed for them ) .
If its indeed past SoL, what would be the best course of action? DV? PFD or PIF?
Even for Deletion i would assume it would be 2003 + 7.5 years, aka late this year but Experian reports it as in Sep 2012, i have no idea where those 2 extra years come from. Another thing that baffles me is this is listed as a revolving account, which of course its not.
Feb, 2010 |
Aug, 1999 |
Jun, 2003 |
Jun, 2003 |
Jul, 2006 |
XXXXXXXXXXXX |
Charge Account |
$250 |
$443 |
Not Reported |
Revolving Account |
Individual Account |
Not Reported |
@Anonymous wrote:The original creditor was Sears
As stated in another post related to this, neither this account nor the LLVN Funding one ( which i assume bought the debt from ) have any lates posted ( 0, 0 , 0 ) , so i have no idea when the DoFD was. I best estimate based on the charge off date of Jun 2003 is that DoFD would be around Mar 2003 ( 90 days late ). If that's the case then SoL would have ended some time early 2007 right?
Or LLVN Funding buying the account of Sears in some way reage my account and the SoL is based on the June 2006 ( Account opened date listed for them ) .
Even if LVN funding bought it from Sears, or any other CA in between the DOFD is set by the OC which is Sears. Everything that comes after that still needs to be incomplience with that specific DoFD.
The Open date reported by the CA is when they bought the account. but the reporting on this acount can't be longer than the complience date set by the DoFD.
I would despute with the CRA based on a CR ordered from them, and not from a 3rd party.
SOL in CA is four years for CC debt, but that is only half the picture. The other issue is what date does it run from?
The controlling statute is section 337 of the Ca Code of Civil Procedure. It is a very confusing statute, but I think this is how it works. It appears to run from your last date of payment, or your last posted date of payment due on the original creditor account, whichever is later. You need to carefully check this out. It is not like most states, which typocally set the running of SOL from the first date of a possible "cause of action," which is normally the same as your DOFD. I dont believe CA SOL for debt works like that. You might call your state attorney general's office for their advice before assuming that SOL has expired.