Reply
Frequent Contributor
basballguy
Posts: 360
Registered: ‎02-20-2008
0

Need a refresher

I had a long disputed collection account age off several months ago.  I'll spare the details but it's a disputed balance I have no intention of paying. 

 

I received a notice the other day advising Calvary has contracted another company to collect for the debt.  I don't think i've heard of a CA contracting out another CA to collect. 

 

Can someone give me a refresher on the DOFD rules?  The claimed debt is literally 10 years.  Can a new agency list it on my report? 


Moderator
guiness56
Posts: 22,406
Registered: ‎01-17-2008
0

Re: Need a refresher

DoFD is date of first delinquency reported by the OC.  The CA also must use the same DoFD.  If it was never given to them they have to make a good faith effort to obtain it from the OC.  If they can't they are allowed to make up their own.  The date they use has to be before the acquired the debt.

 

If the debt is past the 7.5 years as defined in the FCRA, it cannot be listed on your CR.  If it is it is reaging and you would have to prove the DoFD.

 

With all that said, if the disputed collection aged off, no, a new CA cannot legally report it.

 

Yes, it is very common for a CA that owns a debt to assign it to another to collect.

Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
0

Re: Need a refresher

+1

 

They can and often do shuffle debts between many CAs.  However this doesn't restart anything.  It goes by the DOFD from the OC so no matter what a CA does, they cannot legally reage the debt to reapply it to your CR.


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}