topic An old debt just popped up on my credit report in Rebuilding Your Credit

Charge off's

Anonymous — Thu, 08 Mar 2018 04:25:18 GMT

How long does a creditor have from the original delinquicy date to report a charge off to your credit report? Or is there no legal time frame? Reason I'm asking is I had an old debt 15 years old that just popped up on my report. How do I find Date of first delinquicy?

An old debt just popped up on my credit report

Anonymous — Wed, 07 Mar 2018 04:10:29 GMT

I just found an old debt of 955 dollars update on my credit report. It was opened in 2003, and it was just updated in February. It's only on experian. Doesn't show up on Transunion or equifax. Is this allowed? And if it is, is it worth it to pay for delete?

Re: An old debt just popped up on my credit report

Anonymous — Wed, 07 Mar 2018 06:11:37 GMT

Additional information. It was an old school debt. I stopped going there in 2000. But the "Date opened" says Dec 1 2003". Well after I stopped going there. Now, I think I know what happened. I made a payment in 2003, but it looks like the last payment I made is when they made the 120 month term. I took my student loan out in the year 2000 though. Could they start a new student loan without my knowledge when I made my last payment?

Update: I just went on to the NSLDS website that shows all student loans you have out there. Turns out I don't owe any student loans. The only thing on there is a pell grant.

And it says "Scheduled amount" $3125 "Dispersed amount"2,344" "Remaining amount to be paid" $780". This was a grant so they still owed me $780. Now I'm not worried about that, I just want this off of my report

So how could this happen?

Old Student Loan just popped up on my report

Anonymous — Wed, 07 Mar 2018 05:22:05 GMT

I went to school in 1999-2000 and have a small student loan. I made a payment in 2003 of $1000 and it took my balance to $955. Now I never paid the $955, and I assumened it fell off of my credit report. Until today I noticed a 20 point drop only on experian. It's not on the other 2. And I saw this old debt. Now the term is 120 months. But I only took student loans out in the year 2000. It looks like they started a new loan when I made that payment in 2003. Is this right? I just mailed in the payment so I had no knowledge a new term was going to start. Can they do this? Or should I try to fight it?

Re: An old debt just popped up on my credit report

NRB525 — Wed, 07 Mar 2018 11:48:30 GMT

What are the data fields and descriptions of those fields, excluding reference numbers but including the values in the fields, for this updated entry on your report?
Is this indicating a debt is owed, or only that amounts remain to be drawn, and a debt amount does not exist?

There are Unclaimed Property laws in every state. Businesses which owe amounts to other businesses and to individuals, usually uncashed checks that were issued, are required to show the states what happened to those funds. If the business cannot price the funds were paid, or other agreements made with the recipient to use the funds, the state takes over the funds and “tries” to find the recipient. In reality the money goes into the general fund of the state.

If you did not draw the remaining grant money, the records of that were not deleted, the Unclaimed Property rules likely kept track of it, and now they have a better indication where you are.

I would suggest using whatever contact info is provided to follow up with that organization to determine if a check is waiting for you.

Re: An old debt just popped up on my credit report

Anonymous — Wed, 07 Mar 2018 16:24:33 GMT

My concern isn’t with the grant it’s with money owed on my report saying it’s not paid and it’s from 14 years ago

Re: Old Student Loan just popped up on my report

jim44 — Wed, 07 Mar 2018 22:00:03 GMT

@Anonymouswrote:
I went to school in 1999-2000 and have a small student loan. I made a payment in 2003 of $1000 and it took my balance to $955. Now I never paid the $955, and I assumened it fell off of my credit report. Until today I noticed a 20 point drop only on experian. It's not on the other 2. And I saw this old debt. Now the term is 120 months. But I only took student loans out in the year 2000. It looks like they started a new loan when I made that payment in 2003. Is this right? I just mailed in the payment so I had no knowledge a new term was going to start. Can they do this? Or should I try to fight it?

Was your loan a Guaranteed SL or Private SL? A friend had a similar experience to yours.... a 20 yr old GSL with a balance due that he was unaware of until the Dept of whatever found him and started grabbing his income tax refunds. After a few years his SL was reported to all three CB's as +120 days late. He requested deletion on all 3 CBs citing the 7 year SOL. They complied within a month. Less than a year later the feds garnished his wages. He arranged a payment plan, however the loan never showed on his CH again. Maybe others have better incite that may be more closely related to your situation. Hope it is removed!!!

Re: Old Student Loan just popped up on my report

Anonymous — Wed, 07 Mar 2018 22:10:08 GMT

Here’s the thing. The loan was started when I was no longer a student there. I was 3 years out of school by the start of the loan. When I looked up the NSLDS website it I don’t have any loans there. I was paying tuition with my GI bill. And I think I settled the debt around the time it says my loan started. Should I dispute on the experian website? Will this hurt me?

Re: An old debt just popped up on my credit report

RobertEG — Wed, 07 Mar 2018 23:44:49 GMT

I am confused.

Does their reporting include any adverse information, such as that you have a delinquent debt, or is their reporting only reflecting an account with no derogatory information? What is the exact account status that was reported?

FCRA 605(a)(5) is the applicable exclusion provision for delinquencies of any type, and sets a requried exclusion date of no later than 7 years from the delinquency occurence. An reference of any kind to any delinquency thus cannot be included in your credit report after 7 years from the initiation of the delinquency.

Re: An old debt just popped up on my credit report

Anonymous — Thu, 08 Mar 2018 00:13:40 GMT

It has NP for not paid. But I’m almost sure I paid it. It has the loan start date for 2003 but I wasn’t even in school in 2003. I stopped taking classes in 2000. I checked the NSLDS website and I owe no student loans. I had the gi bill and was using that for school. Something isn’t right.

Re: An old debt just popped up on my credit report

Anonymous — Thu, 08 Mar 2018 03:58:13 GMT

This is the info.

Re: Charge off's

Anonymous — Thu, 08 Mar 2018 12:10:13 GMT

Ummm that 100 percent should not be on your report. The longest anything can be on report is 7.5 years from dofd. If it's older than that, it doesnt even belong being put on. Is this still with OC or CA? When you look at report, it doesnt show you dofd? Some of them tell you. If not, request DV (even though you know it is yours) to see all info.

Account from 15 years ago showing 120 days late

Anonymous — Thu, 08 Mar 2018 17:21:04 GMT

I have a debt from a school that wasn't paid. I looked on Experian's website and it is showing 120 days late on something from 2000. This should have fallen off my report a long time ago. As the DOFD can't be in 2017. Did creditor just decide to change DOFD?

Re: Charge off's

RobertEG — Thu, 08 Mar 2018 17:42:49 GMT

A creditor is required to provide the date of first delinquency to the CRA no later than 90 days after they report a charge-off.

The responsibility is thus on the creditor to report the DOFD to the CRA.

If the reported DOFD is more than 7 years plus 180 days ago, then FCRA 605(c) prohibits the CRA from including the CO in any credit report they issue.

You can get the reported DOFD from your credit file, either by access thru annualcreditreport.com, getting a credit report directly from the CRA, or by filing an information request under FCRA 609(a) requesting the reported DOFD.

If the reported DOFD is more than 7 years plus 180 days ago and the charge-off is showing in your credit report, then the CRA is in violation of FCRA 605(C).

If the reported DOFD is still within the 7 years plus 180 days window but you have evidence that it was actually earlier, you can file a dispute of the accuracy of the reported DOFD. If you establish an actual DOFD that is older, then the CRA will be requried to exclude.

Re: Account from 15 years ago showing 120 days late

RobertEG — Thu, 08 Mar 2018 17:54:56 GMT

The DOFD is defined under FCRA 605(c) as the date that the debt first became delinquent, and thereafter remained delinquent up to the point where the debt was either charged-off or referred for collection.

While you apparently dont have either a reported collection or a charge-off, the exclusion of monthly delinquencies is also based on CRA policy of excluding any and all delinquencies in the same chain of delinquency that occured after the first delinquency once the time from first delinquency reaches 7 years.

Thus, your DOFD issue is whether you ever brought the delinquent debt back into a non-delinquency status after the initial delinquency chain back in year 2000. If the account remained continually delinquent after a prior first delinquency back in year 2000, then you should dispute the accuracy of the reporting of a later DOFD.

See FCRA 623(a)(5) for the detailed instructions on how a DOFD is to be determined and reported.

Re: An old debt just popped up on my credit report

RobertEG — Thu, 08 Mar 2018 18:12:28 GMT

It does show a delinquency status, which is a charge-off.

That is the reporting that the debt is both delinquent and was subjected to the accounting action of moving the delinquent debt out of the receivable assets column of their accounting ledger.

Once they have reported a charge-off, they are additionally requried to provide the DOFD to the CRA no later than 90 days after they reported the charge-off. They thus may not as of yet reported the DOFD. I would check annualcreditreport.com or call the CRA and attempt to determine when/if they provided the DOFD to the CRA, and what that reported DOFD is.

If they report a DOFD that is more than 7 years plus 180 days ago, the charge-off must be excluded from your credit report per FCRA 605(c), regardless of whether the debt was paid.

Re: An old debt just popped up on my credit report

Anonymous — Thu, 08 Mar 2018 19:18:22 GMT

Something is going on at Experian, several folks including myself have reported they are updating old closed accounts wreaking havoc on some of our credit reports.

Re: Account from 15 years ago showing 120 days late

CreditCuriosity — Thu, 08 Mar 2018 20:48:15 GMT

Seezer,

Please refrain to posting your question in one portion of the forum as posting in multiple sub-forums will confuse users and is against the TOS of the forum. I merged multiple threads from you to this ONE thread that was spread across the forum in mutiple areas. Ask the question once please and people will respond when they have a moment; it does no good to post it multiple sections as stated. Thank you for you understanding.

CreditCuriosity

myFico Moderator

Re: An old debt just popped up on my credit report

Anonymous — Thu, 08 Mar 2018 23:05:11 GMT

Can they just say the date of first delinquency is 2017? Even though it was delinquent a long time ago? What are the rules on DOFD?

Re: An old debt just popped up on my credit report

Anonymous — Thu, 08 Mar 2018 23:10:56 GMT

What are the rules on reporting Dofd? Can they just decide Dofd is 2018 even though it’s old debt?