topic Re: RobertEG....can you advise? in Rebuilding Your Credit

RobertEG....can you advise?

Anonymous — Wed, 20 Mar 2013 14:05:25 GMT

I posted this a week or two ago and was told you are the expert on this sort of thing. Can you advise me?

So...the OC is chase and has DOFD listed as 9/2007. The collection agency that bought this debt has the DOFD as 2/2008! What do I do? Dispute with cRa? I'd really like to pfd this, but they said no originally. Will this give me some leverage?

Tanks

Re: RobertEG....can you advise?

DaBears — Wed, 20 Mar 2013 14:23:13 GMT

@Anonymous wrote:
I posted this a week or two ago and was told you are the expert on this sort of thing. Can you advise me?

So...the OC is chase and has DOFD listed as 9/2007. The collection agency that bought this debt has the DOFD as 2/2008! What do I do? Dispute with cRa? I'd really like to pfd this, but they said no originally. Will this give me some leverage?

Tanks

2/2008 would be the date the CA bought the debt from Chase. Can you post a the TL as shown on your CR's?

Re: RobertEG....can you advise?

Anonymous — Wed, 20 Mar 2013 14:34:02 GMT

Hmm...I have a hard copy of the cr.

OC says removal 8/2014.
CA says removal 1/2015

CA bought the debt 10/22/2009
CA has last payment listed as 9/19/2007
OC has last payment listed as 9/19/2007.

Re: RobertEG....can you advise?

Anonymous — Wed, 20 Mar 2013 15:37:34 GMT

Payments have nothing to do with the DoFD.

If the CA isn't reporting the correct DoFD, as furnished by the OC, directly dispute it with the CA under FCRA 623(a)(8).

Re: RobertEG....can you advise?

Anonymous — Wed, 20 Mar 2013 15:42:32 GMT

Does the sol start with DOFD?

Re: RobertEG....can you advise?

Anonymous — Wed, 20 Mar 2013 16:01:44 GMT

SOL for suing? Yes it does.

Re: RobertEG....can you advise?

Anonymous — Wed, 20 Mar 2013 16:24:59 GMT

Ok. The OC is chase and they just told me DOFD is 9/25/2007. Should I lay low until sept to not be sued and then attempt to settle with the CA?

Re: RobertEG....can you advise?

Anonymous — Wed, 20 Mar 2013 16:25:44 GMT

Chase also told me it stays on my cr 7 years from the date it sold in 09!

Re: RobertEG....can you advise?

Anonymous — Wed, 20 Mar 2013 16:30:00 GMT

If the OC sold the debt they cannot sue you. You have to own a debt in order to do that.

The OC and CA don't come up with a drop off date, that would be the CRA. They derive it based on information reported by the creditors. It can be incorrect. The only true way to know the exclusion date is the DoFD.

The CA has to go by the same DoFD.

ETA: Maybe I misunderstood your post. Yes, I wouldn't do anything right now. Wait it out.

Re: RobertEG....can you advise?

Anonymous — Wed, 20 Mar 2013 16:32:09 GMT

@Anonymous wrote:
Chase also told me it stays on my cr 7 years from the date it sold in 09!

No, it does not. It goes from their DoFD.

Re: RobertEG....can you advise?

Anonymous — Wed, 20 Mar 2013 16:34:09 GMT

Chase says DOFD is 9/25/2007, but has last payment as 9/19/2007.

How can that be?

Re: RobertEG....can you advise?

Rain77 — Wed, 20 Mar 2013 19:15:28 GMT

DOFD is the date the account first went late and never brought back to current status. So if you were 60 days late, made a payment for less than the past due balance (payment only covered 1 missed payment, not 2) on 9/19, you were 30 days late as of 9/25. Do you know if this may have been the scenario?

Re: RobertEG....can you advise?

Anonymous — Wed, 20 Mar 2013 19:28:13 GMT

@Rain77 wrote:
DOFD is the date the account first went late and never brought back to current status. So if you were 60 days late, made a payment for less than the past due balance (payment only covered 1 missed payment, not 2) on 9/19, you were 30 days late as of 9/25. Do you know if this may have been the scenario?

The DoFD would have been prior to any payment made. And if a payment didn't bring it current it would still go by the first missed payment.

Re: RobertEG....can you advise?

RobertEG — Wed, 20 Mar 2013 19:39:40 GMT

The source of any information as to what is the accurate DOFD on an account always resides with the OC.

FCRA 623(a)(5) states the process that must be used by a debt collector when reporting a DOFD.

The first step is that if the OC has ever reported a DOFD on their account to the CRA, the debt collector MUST report that same date within 90 days of reporting of their collection. Discretion is only given to the debt collector if they cant get the DOFD from the OC.

I would send a dispute to the CRA, not a direct dispute to the debt collector. The CRA has all the records of who reported what, and can, through their reinvestigation rights, correct the inaccuracy.

Cite section 623(a)(5) and provide a copy of a credit report showing reporting by the OC of the DOFD, and a different reporting by the debt collector.

Should be open and shut.

Re: RobertEG....can you advise?

Anonymous — Wed, 20 Mar 2013 19:42:55 GMT

For a deletion or just a correction?

Re: RobertEG....can you advise?

Rain77 — Wed, 20 Mar 2013 19:50:11 GMT

@Anonymous wrote:
@Rain77 wrote:
DOFD is the date the account first went late and never brought back to current status. So if you were 60 days late, made a payment for less than the past due balance (payment only covered 1 missed payment, not 2) on 9/19, you were 30 days late as of 9/25. Do you know if this may have been the scenario?
The DoFD would have been prior to any payment made. And if a payment didn't bring it current it would still go by the first missed payment.

It sounded right in my head. But yes that example does not work. So if last payment was 9/19, but OP did not satisfy the minimum due, could that make a cause for 9/25 as the DoFD?

Re: RobertEG....can you advise?

RobertEG — Wed, 20 Mar 2013 19:52:47 GMT

Any dispute is directed at the accuracy of whatever information is at issue. Any dispute can be addressed by correction of an inccuracy without deletion of the information.

If your issue is DOFD, then resolution of the dispute would be its correction, not the deltion of the entire collection.

They wont "delete" a DOFD. They need it to calculate the ultimate statutory credit report exclusion period of the collection.

Without a DOFD of record in the file, they would have no way to determine the statutory exclusion date, and thus could go into violation of the statute without knowing it.

Provide the CRA with evidence of OC reporting of the DOFD and request the reporting of the debt collector be corrected to that same date under the provisions of FCRA 623(a)(5).

You dont have to argue what the DoFD should be. If the oc has reported it, and you agree with their reporting, it stands.

Re: RobertEG....can you advise?

Anonymous — Wed, 20 Mar 2013 20:08:55 GMT

@Rain77 wrote:
@Anonymous wrote:
@Rain77 wrote:
DOFD is the date the account first went late and never brought back to current status. So if you were 60 days late, made a payment for less than the past due balance (payment only covered 1 missed payment, not 2) on 9/19, you were 30 days late as of 9/25. Do you know if this may have been the scenario?
The DoFD would have been prior to any payment made. And if a payment didn't bring it current it would still go by the first missed payment.
It sounded right in my head. But yes that example does not work. So if last payment was 9/19, but OP did not satisfy the minimum due, could that make a cause for 9/25 as the DoFD?

Without seeing the payment history it is hard to speculate but I don't think so. The only thing I can possibly think of is the payment was actually due on 9/25 and wasn't made.

Re: RobertEG....can you advise?

Anonymous — Wed, 20 Mar 2013 20:10:03 GMT

So since I am still within sol until September, should I wait until October to dispute based on DOFD?

Re: RobertEG....can you advise?

RobertEG — Wed, 20 Mar 2013 20:13:27 GMT

Absolutely.

Correction of the DOFD is academic until such time as it has real significance.

It has no real significance until the exclusion period based on that DOFD has or is about to expire.

You have time to address that issue once the SOL matter has passed.