topic Re: CA Reporting Incorrect Date in Rebuilding Your Credit

CA Reporting Incorrect Date

Anonymous — Mon, 08 Apr 2013 03:18:03 GMT

Hi,

I had a Contiental credit card that was closed in April 2010. It was sold to a CA which was subsequently purchased by another CA (CKS Financial). CKS Financial is reporting this as a collection in December 2012. I have a letter from Continental Finance that states that the account was charged off in April 2010.

Can they post this as a collection based on the date they purchased the loan?

What is the course of action for me?

I sent them a DV letter and a response simply stated - "This letter serves as an additional courtesy notification to inform you that a transaction took place through CKS Financial LLC, purchased your Continental Finance account . This account was purchased on 8/30/2012."

Your help would be greatly appreciated!

Thanks!!

Re: CA Reporting Incorrect Date

Anonymous — Mon, 08 Apr 2013 03:57:09 GMT

What exactly is the CA reporting as Dec 2012?

Yes, the day the acquired the debt would be the date opened. Date reported could be Dec 2012. They don't have to report at the same time they acquire the debt.

Re: CA Reporting Incorrect Date

Anonymous — Mon, 08 Apr 2013 03:54:46 GMT

Hi ,

According to my CR, it says Date Opened 8/1/2012. And for Dec 2012, I have KD (Key Derogotary).

There is no reference to the original date of April 2010 anywhere.

Re: CA Reporting Incorrect Date

Anonymous — Mon, 08 Apr 2013 04:00:14 GMT

Date opened would be the date the CA acquired the debt. Dec 2012, is this in the payment table you are referring to? Is there anything else in the payment table.

KD is a term used by the CRA. It isn't reported by a CA or creditor.

Which report and where from? Only EQ has the actual DoFD. TU and EX have fall off dates based on information provided by the creditor and/or CA. They can also be incorrect.

Re: CA Reporting Incorrect Date

Anonymous — Mon, 08 Apr 2013 04:09:27 GMT

Yes, I was referrring to the payment table. It has Dec 2012 - KD as the first entry.

The account details show as:

Date Opened: 08/2012
Reported Since: 12/2012
Date of Status: 12/2012
Last Reported: 03/2013

This account is scheduled to continue on
record until May 2015.

This is being reported only to EX. Does not exist in EQ and TU.

Re: CA Reporting Incorrect Date

Anonymous — Mon, 08 Apr 2013 04:28:23 GMT

@Anonymous wrote:
Yes, I was referrring to the payment table. It has Dec 2012 - KD as the first entry.

The account details show as:

Date Opened: 08/2012
Reported Since: 12/2012
Date of Status: 12/2012
Last Reported: 03/2013
This account is scheduled to continue on
record until May 2015. This is the date that says when it will be excluded from your CR. Subtract 7 years from this and May 2008 is your DoFD.

This is being reported only to EX. Does not exist in EQ and TU.

Re: CA Reporting Incorrect Date

Anonymous — Mon, 08 Apr 2013 04:40:22 GMT

It's great that the DOFD shows May 2008, which means it will fall off sooner. However, the actual delinquency wasn't until early 2010. I have monthly statements from Continental Finance that show payments and active status all the way through 2009.

Should I leave this as is or should I dispute it as incorrect information being reported?

Thanks!