question about a factoring company

[beachwanttobetterfico]

i have a charge off...I know...bad...the date of last activity was in 08, the facoring company "opened a new TL in 2010 and the "status as of" is listed as 2012...what date is used for aging the account??? 

[Anonymous]

I have a question about factoring companies.  What is up with that term?  Are they just trying to rename themselves something besides collection agencies?  I had never heard of a factoring company before this forum and actually just noticed RJM Acquisitions on my credit report is listed as one.

[RobertEG]

Both a charge-off and a collection have the same, identical date for determination of CR exclusion.

That date is based ONLY on the OC account, and not on any activity of the debt collector or anyone else.

The statute sets the date of CR exclusion for both a charge-off and a collection as 7 years plus 180 days from one date-certain, which is the date of your first delinquency on the OC account.  Period. 

The DOFD is defined as the date of your first delinquency on the OC account in the immediate, last chain of any account delinquency with them prior to the CO/collection.

Fixed in stone.