topic Re: Collection agencys re-reporting in Rebuilding Your Credit

Collection agencys re-reporting

bbyrne — Thu, 15 Jan 2009 22:19:59 GMT

A little help here. I have a collection account from 1994 that has stayed on my credit file. I didnt want to pay it because it was a disputed amount (about $300). In retrospec, I would have paid it but I thought it would come off after 7 years.

The problem is that the collection agency just "sells" the collection account to another agency and they re-report it.

Can they continually do this? Is this legal?

Thanks,

Bbyrne11

Re: Collection agencys re-reporting

Junejer — Fri, 16 Jan 2009 00:21:02 GMT

Hello bbyrne, and welcome to the forums. Please read Credit Scoring 101, if you haven't already.

This is illegal, and should not be tolerated. You can simply dispute with the CRAs as CRTP expired and it should delete. However, if you want to get nasty, then you can sue the CA, report the abuse to the AG of your state and the CA, and alert the BBB and FTC of this action.

The choice is yours.

Re: Collection agencys re-reporting

Anonymous — Fri, 16 Jan 2009 03:45:02 GMT

complaining to BBB, AGs and FTC for the ILLEGAL behavior of these companies is NOT being nasty - is the duty of every law abiding citizen, the same way you would report a bank robbery.

Re: Collection agencys re-reporting

Anonymous — Fri, 16 Jan 2009 03:58:40 GMT

Was the account opened in 1994 or did it go delinquent in 1994?

If it went delinquent in 1994, then they are re-aging it and as mentioned, that is illegal.

I would read the re-aging thread and follow the steps. They worked for me twice.

Re: Collection agencys re-reporting

bbyrne — Fri, 16 Jan 2009 05:42:36 GMT

The account was went delenquent in 1994.

Thank you all so much for your assistance in this matter. This forum is invaluable for all those who are trying to take control of their score. I can't tell you how much I appreciate it.

Thanks again.

Bbyrne

Re: Collection agencys re-reporting

RobertEG — Fri, 16 Jan 2009 09:20:53 GMT

bbyrne, there is something really wrong. No collection account may stay on your CR for more that 7 1/2 years from the DOFD on the OC account.

Re-selling of a collection account has absolutely no affect on its drop-off date from you CR. Zero. Zip.

Under the credit reporting guidelines, there are two FCRA Compliance Dates. One is reported by the OC, and controls when the OC reporting of their derogs drop from your CR. That expired 7 years from the DOFD on the OC account, and is apparently gone.

But credit reporting also separately determines when a collection account must be dropped from your CR. This date is 7 1/2 years from the same DOFD. To administer this dropoff date,and to assure that it is consistent with the original DOFD reported by the OC, section 623(a)(5)(A) of the FCRA requries that any collection agency report their DOFD for their reported collection account within 90 days of their initial post of the collection account to your credit file, and further specifies that this date must match the original OC DOFD.

It should have been gone from reporting by 2002.

Re: Collection agencys re-reporting

RobertEG — Fri, 16 Jan 2009 09:24:59 GMT

If you have been denied any type of credit since 2002 based upon your credit score, you certainly have a good case that this illegal reposting in you CR by the CA was of substantial harm. I would get a lawyer.

Re: Collection agencys re-reporting

Junejer — Fri, 16 Jan 2009 18:07:22 GMT

demed wrote:
complaining to BBB, AGs and FTC for the ILLEGAL behavior of these companies is NOT being nasty - is the duty of every law abiding citizen, the same way you would report a bank robbery.

To-may-toe, to-ma-toe. I was speaking from the point of view of just getting the darn thing over with. At this point in my life, I don't have the time to waste in our inefficient court system. Get it the heck off of my report now.

Re: Collection agencys re-reporting

Anonymous — Fri, 16 Jan 2009 18:19:39 GMT

@Junejer wrote:
@Anonymous wrote:
complaining to BBB, AGs and FTC for the ILLEGAL behavior of these companies is NOT being nasty - is the duty of every law abiding citizen, the same way you would report a bank robbery.
To-may-toe, to-ma-toe. I was speaking from the point of view of just getting the darn thing over with. At this point in my life, I don't have the time to waste in our inefficient court system. Get it the heck off of my report now.

ByrdMan,

I wasn't arguing with you, sorry if it came across that way. I think the complaints should be filed regardless, as they help monitor and assess the effectiveness of the rules (or lack thereof).

also, a dispute directly with the CRA, might leave this open for resolution for up to 45 days, while a complaint with the AG and BBB is normally forwarded to the companies within 7 days and forces a response within 15 days. 7+15 < 45 (not counting USPS time).

Re: Collection agencys re-reporting

Junejer — Sat, 17 Jan 2009 00:17:18 GMT

No, I didn't take it that way, I was caught up in my own world, when I posted. I am so darned busy right now, that I couldn't fathom having to deal with the court system.

Good information though, thanks for sharing, Demed.