topic Re: Discover Collection 2001 in Rebuilding Your Credit

Discover Collection 2001

Creditaddict — Thu, 15 May 2008 01:40:25 GMT

I told my friend I would find out for him. We are in KY.

he had a Discover card in 2001, it's charged off and gone, not even on credit reports anymore.

he got a call tonight from collection agency saying they want to collect.

CAN THEY from 2001 for starters?

Can they report this to credit reports again? (like said not currently on there)

Re: Discover Collection 2001

Anonymous — Thu, 15 May 2008 02:12:31 GMT

Creditaddict wrote:
I told my friend I would find out for him. We are in KY.
he had a Discover card in 2001, it's charged off and gone, not even on credit reports anymore.
he got a call tonight from collection agency saying they want to collect.

CAN THEY from 2001 for starters?
Can they report this to credit reports again? (like said not currently on there)

Kentucky SOL for open accounts, which generally includes CC, is 5 years. But for written contracts it is 15 years. Some try to sue under breach of contract which falls under written contract SOL.

There is no time limit on how long they can try to collect. They can keep trying to collect for years.

The only time limits is on the time they have to sue and win(SOL) and report to the CRA.

Does he have old reports that show DOLA/DOFD? If so, keep them as evidence. If they do place it back on his reports, he will have to dispute based on "FCRA Compliance Date". For them to put it back on they will have to legally re-age the account.

Re: Discover Collection 2001

fused — Thu, 15 May 2008 02:15:02 GMT

Creditaddict wrote:

I told my friend I would find out for him. We are in KY.

he had a Discover card in 2001, it's charged off and gone, not even on credit reports anymore.

he got a call tonight from collection agency saying they want to collect.

CAN THEY from 2001 for starters?

Can they report this to credit reports again? (like said not currently on there)

So long as this CO is 7 years past the DOFD, this cannot legally be reinserted.

Collect attempts can go on forever however...phone calls, letters and etc.

Assuming Kentucky considers CC accounts as open accounts, your friend is past legal SOL.

A FOAD might be in order

Re: Discover Collection 2001

Creditaddict — Thu, 15 May 2008 02:15:02 GMT

Thank you! Perfect info

Re: Discover Collection 2001

fused — Thu, 15 May 2008 02:15:46 GMT

sidewinder types faster