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what if the oc doesn't report but the ca does

Contributor

what if the oc doesn't report but the ca does

Have a home depot/citi card that was charged off. Called and they couldnt give any details such as last payment date, when it was charged off, what the amount was at charge off etc. They told me to contact the ca, which is LTD financial services.

Even though the debt is past sol, I am weary of believing what the ca might state as the dofd. The oc is not on the credit reports but ltd is. The bf has no intention of paying this bc its such a large amount.

How do I really know when the dofd was?
Message 1 of 5
4 REPLIES
Epic Contributor

Re: what if the oc doesn't report but the ca does

Unless you have some sort of records, like statements or bank records to show the last payment, you may not.

 

What is the CA showing?

 

You have any idea when you stopped making payments on it?

 

 

Message 2 of 5
Contributor

Re: what if the oc doesn't report but the ca does

Last payment on his bank statements that I can find was 02/07/2008.

LTD was assigned the account 04/29/2009. They didn't start updating his credit reports until 02/2013. 

TU has an estimated date of removal of 08/2015.

EX has an estimated date of removal of 06/2015.

 

So ya I guess 08/2015 would be right? That includes the 180 days on top of the 7 years.

 

Balance is $7311 and there is no way he can pay even 10% (unless it's on my credit card ) of it so I guess this one shall remain....Smiley Sad

Message 3 of 5
Epic Contributor

Re: what if the oc doesn't report but the ca does

Yes, it looks about right.

 

Is it outside of SOL?  If so, offer a small settlement for deletion.  They may not accept but worth the try.

Message 4 of 5
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Community Leader
Epic Contributor

Re: what if the oc doesn't report but the ca does

The day the debt collector reported their collection to the CRA triggered two requirements on their part.

 

First, they must have sent dunning notice within 5 days thereafter, which would have included the amount they asserted as the debt.

So he should at least have notice from them of their assertion of the debt as of that date.  An update of the current asserted debt can be requested by way of a DV.

 

Second, they were required to have reported the DOFD on the OC account to the CRA within 90 days after reporting.  Thus, it shuld be in his file no later than 90 days after the date they reported their collection.  In reporting the DOFD, they must have made contact with the OC and attempted to obtain the DOFD directly from them.  They cannot indepedently determine the DOFD that occured on the OC account.

 

If it is not shown in his credit report, he can obtain it without contacting the debt collector.

Simply send a request to the CRA under the provisions of FCRA 609(a)(1), along with the current processing fee of $11.00, and request the "FCRA Compliance Date/Date of First Delinquency" reported by the debt collector.

 

A decision whether to pay a delinquent debt is, of course, personal.  However, ultimate credit report exclusion after 7 years plus 180 days will only prevent others from becoming aware of the delinquent debt via a pull of his credit report.  It still remains an unpaid, delinquent debt that others can become aware of via other means, which could become a basis for denail of future credit.  Reliance on credit report exclusion to shield the debt is at one's risk.

Message 5 of 5