Paid my collection and it reset the 7 years!!! Help!

[Anonymous]

okay so we have all heard that paying collections can reset the 7 years but I didn't think it would actually happen to me. In the last two years, I have paid off all of my 6 collection accounts. Saving the biggest for last, I paid of a 3000 collection from my old credit union. It had been on my report since 2009. Yesterday I pulled my credit report and sure enough, the credit union reported it a paid collection and the drop off date is now 7 years from today. I called the credit union and they said "yep, it shows 7 years from payment activity, so it did reset it for another 7 years. They said if I write a consideration letter they will present it to their management team to see if they can take it off but that they have never done that before. This is just crazy. Is there anything I can legally do about it? For the record, this is the only one that reset.

[RobertEG]

A collection, paid or otherwise, is required to become excluded from your credit report no later than 7 years plus 180 days from the DOFD on the OC account.

Date of any payment is immaterial. The DOFD alone determines the running of the exclusion period.   FCRA 605(c).

If the CRA has updated the expected exclusion date based on anything other than the reported DOFD, then they are incorrect as a matter of law.

You can pursue attempt to get it corrected, such as via formal complaint to the CFPB, but actual violation of the FCRA will not occur until 7 yrs plus 180 days from DOFD has expired and the CRA continues to include the colllection in any credit report they issue, so you have time to get it corrected.

[Anonymous]

You might consult with these guys...I'm sure they can help you out.