Returned checks

[Anonymous]

I just received a TC update that indicated that 4 new derogs hit my account this week - all from Check Services USA.  Now, I'm pretty sure that these are my debts, and would like to take care of them, but does anyone out there know if I HAVE to in order for them to come off of my report?  The checks are dated 12/27/03, 12/28/03, 01/24/04 and 02/12/04.  I live in TX where the SOL is 4 years.  Does this simply mean that they can't sue me after 4 years or does that mean that they can't continue to report after 4 years?  Could I attempt to pay the original debtor directly and if they accept payment, can Check Services still report?

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800FICOwannabe

07/01/09 - FICO scores: EQ - 696, TU - 622 (Asset Acceptance reinserted as a new collection)
06/01/09 - FICO scores: EQ - 637, TU - 641
05/04/09 - FICO scores: EQ - 660, TU - 647
04/21/09 - FICO scores: EQ - 711, TU - 642
09/09/08 - Mortgage Enhanced: EQ - 607, EX - 556, TU - 534

[laz98]

that means they can't sue you after 4 years.  well, they could, but your defense would be that the accounts are past SOL.

no, if you never paid them, they would still come off your credit reports.  but they can try & collect their money forever.

i have heard both things:  if you pay the OC, then the CA comes off.  & i've heard that sometimes the CA stays, & that it's correct for them to stay there.  i have had both experiences.

[Anonymous]

Any moderators out there that could weigh in?

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800FICOwannabe

07/01/09 - FICO scores: EQ - 696, TU - 622 (Asset Acceptance reinserted as a new collection)
06/01/09 - FICO scores: EQ - 637, TU - 641
05/04/09 - FICO scores: EQ - 660, TU - 647
04/21/09 - FICO scores: EQ - 711, TU - 642
09/09/08 - Mortgage Enhanced: EQ - 607, EX - 556, TU - 534

[Anonymous]

Okay, so basically, this is what I need to know:

1)  If I pay the OC directly, can the CA still continue to report?

2)  These checks were all written nearly 7 years ago - however they were only reported on my CR last month.  How long can the CA report this debt?  Does the date the check was written start the clock on how long they can be reported?

[RobertEG]

The OC and any CA can continue to report derogs,and updates, forever and ever.

SOL has nothing at all to do with credit reporting.  Expiration of SOL, even in Texas, does not prevent credit reporting.

The FCRA places NO limitations on reporting by credtors or debt collectors of derogs or debt other than what they report must be accurate.

For example, they cant illegally re-age the dates of occurence of prior reported derogs.

FCRA 605(a) is not a limitation on creditor reporting.  It is strictly a limitation imposed on the CRAs.  It is a requirement that the CRA must review the dates reported to your credit report for each account, and determine whether any derog included in your credit file has exceeded the dates specified in any of the subsections of FCRA 605(a) and (c).  If they have, they dont delete anything from your credit file, and dont prohibit subsequent reporting on the account.  They simply discontinue inclusion of the derog information in any credit report they issue after that date.

If the dates included in your credit file have been inaccurately reported by the credtitors, your beef is with the accuracy of the creditor reporting, and not with the CRA.

The CRA can only make its determinations based on the data reported to them.

However, if the CRA is still continuing to include derogs in your CR beyond the dates reported to them, and any provision of FCRA 605(a) prohibits such reporting, your beef is with the CRA for violation of FCRA 605(a), and not the OC or CA.

[RobertEG]

I think your question is not whether any party can continue to report or update account information, but rather one of, if you pay the OC under a PFD, must the CA delete their prior credti reporting, and on the flip side, if you pay the CA with a PFD, must the OC delete?

My answer to both is no.

I am not saying they cant delete based on payment to the other party.  That is their decision to independently make.  What I am saying is that there is absolutely no requirement I am aware of that compels one party to delete based on the resolution of debt through any PFD agreement with the other party.  I know this issue has been floating through the site for a long time now.

I would like to see some citation of any provision of statute, rule, or credit reporting guidelines that even inferentially suggests, that one party must delete its prior, and accurate, credit reporting on the basis of actions taken by another party on their own credit reporting derogs. 

[Anonymous]

I have somewhat of the same issue.  I have a NSF from 10/03 that is under a CA with an assigned date of 5/05.  In October I will contact the CA and CRA to dispute because it will be time barred because the original DOFD was 10/03 and should no longer be reported.  perhaps you could do the same in December and January.

[laz98]

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@Anonymous wrote:

I have somewhat of the same issue.  I have a NSF from 10/03 that is under a CA with an assigned date of 5/05.  In October I will contact the CA and CRA to dispute because it will be time barred because the original DOFD was 10/03 and should no longer be reported.  perhaps you could do the same in December and January.

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i thought if it was a CA account, you had to wait 7.5 years, not just 7?

[guiness56]

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@laz98 wrote:

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@Anonymous wrote:

I have somewhat of the same issue.  I have a NSF from 10/03 that is under a CA with an assigned date of 5/05.  In October I will contact the CA and CRA to dispute because it will be time barred because the original DOFD was 10/03 and should no longer be reported.  perhaps you could do the same in December and January.

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i thought if it was a CA account, you had to wait 7.5 years, not just 7?

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The FCRA is specific in stating all accounts in CO or collection accounts  will come off after 7 years.

Where the confusion seems to lie is with the statement that the 7 years start at 180 days after the delinquency that led to the CO or collection account.

[Anonymous]

So, when does the CRTP start for a returned check?  The date of the check, the date it's written, etc.?    I thought the CRTP was between 7 and 7.5 years period the end.  Isn't this correct?  Otherwise, OCs and CAs could continue to report forever.  But I need to know in  this case when that clock started.