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OC Cap1 removed

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Anonymous
Not applicable

OC Cap1 removed

Hi,

 

OC Cap1 removed but Collection agency is still reporting as open in my report. Portfolio recovery still shows open. Is this legal and if not what action should I take?

 

Thanks

 

Message 1 of 7
6 REPLIES 6
Anonymous
Not applicable

Re: OC Cap1 removed

Did you pay Portfolio? How did you get Cap1 to delete?
Message 2 of 7
AutoBot
Established Contributor

Re: OC Cap1 removed

Were they both listed on your CRAs and then the OC dropped off? What is the DOFD?

Message 3 of 7
Anonymous
Not applicable

Re: OC Cap1 removed

Why should I pay when Cap1 removed the negative account from my TU credit report? 

 

Whats the point of DOFD, shouldn't collection agency remove it since original creditor removed it? 

 

Its about 7.1 years... 

Message 4 of 7
RobertEG
Legendary Contributor

Re: OC Cap1 removed

Debt collector reporting of a collection is separate.  Lack of reporting, or reporting and deletion, by the creditor is not basis for deletion of reproting by the debt collector.

Reporting of a collection is of the fact that they received collection authority, either by way of assigned authoirty from the owner, or by their purchase of the debt.

 

Deletion of a reported collection is only required under CRA policy if the debt collector has had their collection authority terminated without satisfaction of the debt.

 

The credtor may have decided to delete their reporting of their own account for various reasons, such as they have sold the debt and no longer care about future events, or they simply no longer wish to maintiain responsibility for updating their reporting or entertaiining any disputes over its accuracy.

Those reasons do not affect the fact that the debt collector may still have collection authority.

 

 

 

 

Message 5 of 7
Anonymous
Not applicable

Re: OC Cap1 removed

In a situation where its past 7.5 years, then should it not be removed or excluded?

Message 6 of 7
RobertEG
Legendary Contributor

Re: OC Cap1 removed

Yes, it will become excluded by the CRA from credit reports they issue.

Debt collectors are required to obtain the date of first delinquency on the OC account, and report it to the CRA.

The CRA then monitors the time since DOFD, and must exclude the collection from any credit report they issue after 7 years plus 180 days from the DOFD.

 

The cebt collector does not report any deletion.  The responsibility is on the CRA to monitor and exclude the collection no later than 7 years plus 180 days from DOFD.

They normally will do the exclusion a bit early, at approx 7 years.

 

Message 7 of 7
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