@RobertEG wrote:
The FCRA does not make that specific statement, as it is unnecessary. The statute states what the CRAs must delete, and does not list events that do not require deletion.
FCRA 605(c) says it all, albiet in a very convoluted manner in order to makes its language consistent with the language of prior section 605(a)(4), which it amended The entire reason why section 605(c) was added to the FCRA back in 1997 was to address this very question.
You can go to the bank on it. The ONLY date used for determining when the CRA must exclude a collectiion or charge-off from your credit report is based on the DOFD on the OC account, and the resulting exclusion date is 7 years plus 180 days from that date-certain DOFD.
Period.
If you want to see, in writing, a definitive statement that other dates dont apply, it is clearly stated in the legislative history of section 605(c), as it was the entire reason for enacting that revision.
RobertEG,
With respect, and only for my clear understanding of these facts, I would like to ask you for clarification of a post you made three years ago (June 2009) which appears to give opposing information to statements you made in this thread. In the June 2009 post you say that, "Under some state SOL statutes, an offer to pay may reset your SOL."
With sincere honesty, my request for clarification is only for my own edification of the laws for SOL and CRTP. This is a subject that is of great concern to me, and you seem to be very knowledgeable in this area. Can you please answer a few questions for me?
1. Have the laws changed since June 2009, such that an offer to pay was able to reset the SOL at that time, but now there are no events that would reset the SOL?
2. Do you know if these SOL statutes, that have the ability to reset SOLs, exist in California?
3. I realize that SOL and CRTP are two different things; one is a legal time period, the other is a reporting time period. Does the June 2009 post refer to SOL and not CRTP, or is it indeed true that an offer to pay, may also reset the CRTP???
I would like to send PFDsto three collectors for three different accounts. But, I really don't know too much about the three CAs or how they would respond. Do you still feel the same way about sending PFDs? In the June 2009 post, you say, "I would hesitate to suggest content of a PFD letter until the full facts surrounding the debt are clear."
What should I consider, or be careful about, prior to sending the PFDs?
That post of that text reads as follows:
Sending a PFD letter is not necessarily the best thing to do. A PFD letter is only a conditional request for the creditor/CA to accept payment, and may prompt them to deny, and just sue.
Under some state SOL statutes, an offer to pay may reset your SOL.
I would hesitate to suggest content of a PFD letter until the full facts surrounding the debt are clear.
The post is here: http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD/m-p/523506/highlight/true#M70402
Thank you so much RobertEG,
Edited to remove a name
