topic Re: Re-aging question in Rebuilding Your Credit

Re-aging question

Anonymous — Thu, 22 Jan 2009 20:14:01 GMT

I have several accounts on my reports that look like this:

Example

Discover Card

Graphics show that:

Account Late 150days+ 10/2002 & 11/2002

Account charged off 12/2002 & 1/2003

Then shows green "ok" 2/2003 to 8/2004

Never had contact with or made payment from original Charge off date until I Paid/settled the collection in 9/2004

Shows account as a collection AGAIN 9/2004

Under the section of the report where it says "90+ days late" it shows:

"6 times (Sep 2004, Jan 2003, Dec 2002, Nov 2002, Nov 2002, Sep 2002)"

Is this an attempt to reage the debt?

How can the debt have gone from collection 12/02 & 1/03 to "ok" 2/03-8/04 without contact or payment, and then back to collection in the same month I settled with them 09/04?

Re: Re-aging question

Anonymous — Thu, 22 Jan 2009 20:18:01 GMT

No, it is not reaging. Reaging deals with changing the DOFD. Who is reporting, the OC or a CA?

Re: Re-aging question

Anonymous — Thu, 22 Jan 2009 20:20:40 GMT

The OC is reporting at a $0 balance.

Is there any way to make these go away? I have about 4 like this (all OC, 0 balance) that are all settled/paid chargeoffs due to fall off within the next year/year & a half.

Message Edited by stop_zombietime on 01-22-2009 12:20 PM

Re: Re-aging question

Anonymous — Thu, 22 Jan 2009 20:26:20 GMT

Since these are paid you can write a heartfelt GW letter to the OC and asked for them to be removed.

Re: Re-aging question

Anonymous — Thu, 22 Jan 2009 20:35:43 GMT

I also have 1, it's my only outstanding problem account.

I would have paid it when I paid the others, had I known/remembered it was out there.

It's a chase credit card the DOLA and DOFD are one in the same, 06/2002. The chargeoff amount is $2638.00.

EX also shows a "past due amount" of $372.....???

Shows as "Charged off". "Transferred / sold to another lender"

This is one of the oldest accouunts (if not THE) oldest account I have on file.

Is this account helping or hurting me? Is there a way to make this account look "good"?

Should I PFD, or will that hurt me? Pay in full or settle? Leave it alone & let it fall off?

(Wanna buy a house sometime soon)

Re: Re-aging question

Anonymous — Thu, 22 Jan 2009 21:25:10 GMT

@Anonymous wrote:
No, it is not reaging. Reaging deals with changing the DOFD. Who is reporting, the OC or a CA?

I have a CA doing this to me. Showed OK OK OK OK then I made the mistake of paying them in full last June, since then it shows 120 120 120 120 120 (five times) Asset Acceptance is the CA, it is for an old Xcel Energy bill from 2003. Asset started reporting it last year in Feb 2008, as a "Factoring Company" account on my reports, I paid them in full in June of 2008. Thats when they "updated" to show Jan-May 2008 as 120 days late.

Re: Re-aging question

Anonymous — Thu, 22 Jan 2009 21:40:05 GMT

It is stilll not reaging. The DOFD comes from the OC and stays the same no matter how many times the account may change hands. Unless the account was brought to current and was late again, the DOFD will not change.

When does your report show it will fall off? Has the DOFD changed?

CAs will use the term Factoring Company to try and avoid terms of FDCPA. No matter what they call themselves, they are still a CA. A true factoring company does not buy delinquent accounts.

I would file complaints with the AG, their AG, BBB and the FTC.

Re: Re-aging question

Anonymous — Thu, 22 Jan 2009 22:04:56 GMT

Right, but if the OC is the one doing the reporting, and the credit report says:

ok ok ok ok 30 60 90 120 CO CO ok ok ok ok ok ok ok ok ok ok ok CO

does this not mean that the "new" collection has to stay on for 7 years, or does the whole account drop 7 years after "1st" collection?

Re: Re-aging question

Anonymous — Thu, 22 Jan 2009 22:15:43 GMT

The acount comes off 7 years fro the DOFD. This is a Charge Off, not a collection. The one that hurt your score was when it was originally charged off.