can they re-age after a charge off is paid?

[coldfeet]

I had an account that I stopped paying in 2005. I pulled my credit report in 2007 ( I still have the copy) and it was listed as a charge-off/written-off. At that time I did nothing with it. In 2009 a payment was made to the acct.(without my knowledge). After the payment, the account re-aged where it won't come off my credit reports until 2016. On my credit reports it lists DOLA May 2009. Estimated date of removal November 2016. I know it resets the clock for SOL, but should it have re-aged? That would give me a negative mark on my credit report for 11+ years. Any input or clarification is appreciated.

[rckstrscott]

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@coldfeet wrote:

I had an account that I stopped paying in 2005. I pulled my credit report in 2007 ( I still have the copy) and it was listed as a charge-off/written-off. At that time I did nothing with it. In 2009 a payment was made to the acct.(without my knowledge). After the payment, the account re-aged where it won't come off my credit reports until 2016. On my credit reports it lists DOLA May 2009. Estimated date of removal November 2016. I know it resets the clock for SOL, but should it have re-aged? That would give me a negative mark on my credit report for 11+ years. Any input or clarification is appreciated.

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Can you actually show the listing cause most of what you said makes no sense to me..

If it's charged off, you cannot make a payment. They cannot accept a payment.

How does a payment get made without ones knowledge? I would personally need to see how its listing before/after to really make an assertion as to what is going on.  If they DID accept a payment after charge off, that's a big no no...

-scott

[coldfeet]

It was a $500 loan from a bank that I also had a savings account with. In 2005 I stopped paying the loan and stopped using the savings account. The savings account was closed. In 2007 when I pulled my credit report the loan was listed as "charge off/written off." (I will scan and paste on here when I get home.) In 2009 I used my GI Bill to enroll in college. The VA sent out my first tuition payment as a direct deposit to that closed savings account. I had used that savings account for my paychecks when I was in the military, so it was still on file. I however did give the VA my new account when I started the enrollment proceedings. Using that old account was an error on the VA's end. When they made that deposit the bank kept the money and applied it to the deliquent loan. I have no idea how they were able to accept a direct deposit on a closed savings account, but they did. That's how a payment was made without my knowledge. I'm not sure if this makes sense. If you need me to explain more, I will. Thanks for any input on this.

[rckstrscott]

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@coldfeet wrote:

It was a $500 loan from a bank that I also had a savings account with. In 2005 I stopped paying the loan and stopped using the savings account. The savings account was closed. In 2007 when I pulled my credit report the loan was listed as "charge off/written off." (I will scan and paste on here when I get home.) In 2009 I used my GI Bill to enroll in college. The VA sent out my first tuition payment as a direct deposit to that closed savings account. I had used that savings account for my paychecks when I was in the military, so it was still on file. I however did give the VA my new account when I started the enrollment proceedings. Using that old account was an error on the VA's end. When they made that deposit the bank kept the money and applied it to the deliquent loan. I have no idea how they were able to accept a direct deposit on a closed savings account, but they did. That's how a payment was made without my knowledge. I'm not sure if this makes sense. If you need me to explain more, I will. Thanks for any input on this.

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Your explanation makes sense.. I follow you completely, but the situation does befuddle me...

I think we need one of the resident experts, like RobertEG to chime in on this one...

-scott

[gdale6]

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@coldfeet wrote:

It was a $500 loan from a bank that I also had a savings account with. In 2005 I stopped paying the loan and stopped using the savings account. The savings account was closed. In 2007 when I pulled my credit report the loan was listed as "charge off/written off." (I will scan and paste on here when I get home.) In 2009 I used my GI Bill to enroll in college. The VA sent out my first tuition payment as a direct deposit to that closed savings account. I had used that savings account for my paychecks when I was in the military, so it was still on file. I however did give the VA my new account when I started the enrollment proceedings. Using that old account was an error on the VA's end. When they made that deposit the bank kept the money and applied it to the deliquent loan. I have no idea how they were able to accept a direct deposit on a closed savings account, but they did. That's how a payment was made without my knowledge. I'm not sure if this makes sense. If you need me to explain more, I will. Thanks for any input on this.

---

The original DOFD still applies in this case, they took money from a re opened account and applied it to your CO balance so the DOLA would be when this happened but it in no way changes the DOFD. Dispute it with the CRAs as obsolete for reporting purposes based on your DOFD in 2005. The legality of re-opening a long closed account to grab money that was owed on the CC is questionable but it is beyond my area of expertise and since it happened in 09 the SOL for legal actions has probably already passed.

[coldfeet]

Ok I just spoke to the collections dept at this bank. It was not the most pleasant conversation. She started off by telling me that I was pretty much irresponsible. And it wasn't their problem that I chose not to pay my bill. Nice. According to her, they can report as long as they want because they use the DOLA. She said she has never heard of using DOFD. So basically contacting her or making any kind of payment to a charge off would restart DOLA and add 7+ years. She said I restarted the DOLA clock today and it's going to be another 7 years. Now I'm looking at it on my credit report for a total of 16 years. Aging off in 2021. I don't think so, or at least I hope not. She said and I quote " I don't work for the Credit Bureaus, I just do my job and that's their laws". I know she has to be wrong on DOLA vs. DOFD.  Is there somewhere I can look that up to email to her? I asked her if I found something that contradicted what she was saying if she would re -evaluate her version of the laws.  She was offended I said that, but hesitantly agreed.

[rckstrscott]

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@gdale6 wrote:

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@coldfeet wrote:

It was a $500 loan from a bank that I also had a savings account with. In 2005 I stopped paying the loan and stopped using the savings account. The savings account was closed. In 2007 when I pulled my credit report the loan was listed as "charge off/written off." (I will scan and paste on here when I get home.) In 2009 I used my GI Bill to enroll in college. The VA sent out my first tuition payment as a direct deposit to that closed savings account. I had used that savings account for my paychecks when I was in the military, so it was still on file. I however did give the VA my new account when I started the enrollment proceedings. Using that old account was an error on the VA's end. When they made that deposit the bank kept the money and applied it to the deliquent loan. I have no idea how they were able to accept a direct deposit on a closed savings account, but they did. That's how a payment was made without my knowledge. I'm not sure if this makes sense. If you need me to explain more, I will. Thanks for any input on this.

---

The original DOFD still applies in this case, they took money from a re opened account and applied it to your CO balance so the DOLA would be when this happened but it in no way changes the DOFD. Dispute it with the CRAs as obsolete for reporting purposes based on your DOFD in 2005. The legality of re-opening a long closed account to grab money that was owed on the CC is questionable but it is beyond my area of expertise and since it happened in 09 the SOL for legal actions has probably already passed.

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I agree with this, gdale. The only issue is, if it is charged off, the OC cannot accept payment right?. That is my concern....

[coldfeet]

This is getting even more bizarre. I just spoke to  a service rep at Equifax to clarify CRTP. I asked her about DOLA vs. DOFD. Her response was that the OC's/Banks can use whatever date they want to use. There is nothing prohibiting them from using DOLA. I asked her about FCRA stating DOFD. She said those were basically just guidelines. Nothing enforceable. It's up to the Creditor's to use whatever dates they want to use. Is that hog wash? Or am I completely wrong? Am I reading the FCRA wrong?

[gdale6]

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@rckstrscott wrote:

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@gdale6 wrote:

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@coldfeet wrote:

It was a $500 loan from a bank that I also had a savings account with. In 2005 I stopped paying the loan and stopped using the savings account. The savings account was closed. In 2007 when I pulled my credit report the loan was listed as "charge off/written off." (I will scan and paste on here when I get home.) In 2009 I used my GI Bill to enroll in college. The VA sent out my first tuition payment as a direct deposit to that closed savings account. I had used that savings account for my paychecks when I was in the military, so it was still on file. I however did give the VA my new account when I started the enrollment proceedings. Using that old account was an error on the VA's end. When they made that deposit the bank kept the money and applied it to the deliquent loan. I have no idea how they were able to accept a direct deposit on a closed savings account, but they did. That's how a payment was made without my knowledge. I'm not sure if this makes sense. If you need me to explain more, I will. Thanks for any input on this.

---

The original DOFD still applies in this case, they took money from a re opened account and applied it to your CO balance so the DOLA would be when this happened but it in no way changes the DOFD. Dispute it with the CRAs as obsolete for reporting purposes based on your DOFD in 2005. The legality of re-opening a long closed account to grab money that was owed on the CC is questionable but it is beyond my area of expertise and since it happened in 09 the SOL for legal actions has probably already passed.

---

I agree with this, gdale. The only issue is, if it is charged off, the OC cannot accept payment right?. That is my concern....

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The OC can accept payment after a CO if they are still the legal owners of said debt, there is no law that bans them from doing so. A CO is just an accounting move that a creditor takes.

[gdale6]

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@coldfeet wrote:

This is getting even more bizarre. I just spoke to  a service rep at Equifax to clarify CRTP. I asked her about DOLA vs. DOFD. Her response was that the OC's/Banks can use whatever date they want to use. There is nothing prohibiting them from using DOLA. I asked her about FCRA stating DOFD. She said those were basically just guidelines. Nothing enforceable. It's up to the Creditor's to use whatever dates they want to use. Is that hog wash? Or am I completely wrong? Am I reading the FCRA wrong?

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Calling a CRA to get info on the FCRA is not a good move, they really dont know whats in it themselves and they are going to side with the bank that is paying them for their services.