Credit Card Center Advertiser Disclosure†
08-19-2011 09:10 AM
OMG!!!! I have a ca that reports an old utility account on my credit report. It was scheduled to fall off this October. Only two more months!!!! Well, now it looks like they have restart the sol. Because now it's reported to all cra's as brand spankin new!!! And scheduled to fall off in 2017. It also says it was opened in 4/11. So here's my side of this. I have not spoken with anyone at that office acknowleding this debt verbally. I actually don't recall speaking to anyone there. BUT I'm wondering if I sent them a PFD letter earlier this year when I was doing some clean up and just can't remember it! Truth is I don't recall this. Would a PFD letter restart the sol? PLEASE someone tell me what I should do to get this taken care of ? IF threre is anything I can do. Ugggghhh!
08-19-2011 10:23 AM
BIG QUESTION - Do you owe the debt?
SOL does not mean that it automatically disappears. It is only a defense if they take you to court after SOL tolls.
As far as why SOL would seem to reset, I do NOT have any information.
I'm guessing since it is near SOL tolling, they are looking for their money.
08-19-2011 11:24 AM
Sounds to me like they re-aged the account. Which it very illegal.
08-19-2011 05:14 PM
08-20-2011 08:11 AM
I think there is a big mixing of apples and oranges here.
Creditors and debt collectors dont set or reset your statutory date of limitation on repayment of a debt. Your actions do that. Your statute of limitations on legal obligation to repay debt is based on your state civil code, and it is initially the date of your first delinquency in the most recent chain of debt delinquency (your DOFD). That defines the date which, thereafter, they can choose to seek a court order to require repayment. Each state has its own civil code which provides both the period of running of its period for legal repayment obligation, as well as various provisions for possible reset of the running of that period. So you must consult your state civil code to determine the date of expiration of your legal repayment obligatin.
Credit report has nothing to do with setting or resetting the SOL for legal obligation of debt repayment. Credit reporting, in this case of a collection, has to do with items remaining in your credit report after 7 years plus 180 days from the DOFD on the OC account. There is no reset of the DOFD, and thus no reset of the credit report exclusion period, after the expiration of the 7 yrs + 180 days. That exclusion date is pegged, under FCRA 605(c) and 623(a)(5), only on the date-certain DOFD on the OC account. The date a debt collector reports a collection, or reports any updates to its status, are meaningless as regards its CR exclusion period. The "Date Opened" of a collection is only the date they received collection assignment from the OC. It has zero to do with illegal re-aging. Unless a debt collector has been shown to have reported a DOFD on an OC account that is later than the actual DOFD, that is not illegal re-aging of its CR exclusion date. And that is not shown in most commercial credit reports.
To substantiate illegal re-aging, you must show that the debt collector made a specific reporting of a DOFD on the OC account that was different from what they are permitted to report under FCRA 623(a)(5).