topic Re: Checking Account SOL in Rebuilding Your Credit

Checking Account SOL

myficomatt — Sun, 20 Jun 2010 19:04:54 GMT

Today I was doing some usual credit business. Checking my credit, applying for cards, etc. I was looking at my Transunion report and noticed a collections from RJM Acq for a checking account from Bank of America (BoA). I had this account when I was in my teens and I'm pretty sure it was closed in 02 or 03 at the latest. Is this past SOL? The date assigned is 09. Can I dispute this?

Rjm Acq Llc

$93

Collection account

Mar 11, 2009

May 31, 2010

Re: Checking Account SOL

fused — Sun, 20 Jun 2010 19:25:10 GMT

May I ask how old you are? Which state do you live in?

Re: Checking Account SOL

myficomatt — Sun, 20 Jun 2010 19:31:20 GMT

Hi Fused,

I'm 28 and in Atlanta, GA. I believe I was 20 or 21 when this was closed off.

Re: Checking Account SOL

fused — Sun, 20 Jun 2010 19:36:18 GMT

Do you know what the DOFD (date of first delinquency) is for this account?

Re: Checking Account SOL

myficomatt — Sun, 20 Jun 2010 19:40:54 GMT

I don't. It's been so long that I don't have any paperwork. I'm pretty sure it was closed off completely in 2003. Should I call BoA tomorrow and get the details or could that update the SOL?

Re: Checking Account SOL

fused — Sun, 20 Jun 2010 19:47:09 GMT

I would pull your reports from AnnualCreditReport. Look for DOFD or the drop off date for this collection. It doesn't matter when the account was closed, what matters is when you first went delinquent and never brought the account back to "current" and paying as agreed.

Re: Checking Account SOL

myficomatt — Sun, 20 Jun 2010 20:05:00 GMT

I just checked annualcreditreport and it does not contain any of that information. The only thing listed as far as dates.

Date placed for collection: 03 /20 09

Estimated date that this item will be removed: 07/2011

Re: Checking Account SOL

myficomatt — Sun, 20 Jun 2010 21:22:23 GMT

Should I call the BoA tomorrow or is that a bad idea?

Re: Checking Account SOL

fused — Sun, 20 Jun 2010 22:00:31 GMT

I would contact the CRAs. The information you need to know is supposed to be on your reports.

Re: Checking Account SOL

Anonymous — Mon, 21 Jun 2010 01:33:36 GMT

Hey you say in '03 the account was closed... were you still trying to pay it down afterwords. In other words did you close it to prevent future dilenquency /like running the balance even further, no longer trusted yourself with the credit line or did they close it. Doesn't matter i'm just asking.

I hear ya man cuz i wasn't keeping records back when i was that age either. Your kinda arguing based on what you vaguely remember and also depending on their records to prove them wrong.Well it does say it drops off next year although next year ain't 7 years after is was closed. So i'm wondering if you tried to pay it down after it was closed because i did that with boa. I had a card that was over the max and closed it and then paid down after it was closed like in '05. I just didn't trust myself wit credit at the time ... man i was reckless.

edit: BTW i didn't offer any advice ... It drops off next july you can try to pfd boa to see if they willing to work with you and take acct back from CA to clean ur CR up a little faster. As far as sol go though, i don't think they gonna serve you for 93 dollars.

Re: Checking Account SOL

myficomatt — Mon, 21 Jun 2010 16:24:52 GMT

Date of First Deliquency 08/04

Re: Checking Account SOL

fused — Mon, 21 Jun 2010 16:35:12 GMT

If that DOFD is correct, the collection could remain on your reports up until 02/2012. You could send the CA a DV letter. If they validate the debt, offer a PFD.

Re: Checking Account SOL

myficomatt — Mon, 21 Jun 2010 18:18:26 GMT

By them validating the debt, could that reset the period at which it falls off?

Re: Checking Account SOL

MarineVietVet — Mon, 21 Jun 2010 18:26:44 GMT

@myficomatt wrote:
By them validating the debt, could that reset the period at which it falls off?

No. The CRTP (Credit Reporting Time Period) is set by federal law and cannot be changed by anyone.

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Whats In Your FICO Score