topic Re: CA reporting questions in Rebuilding Your Credit

CA reporting questions

Anonymous — Thu, 11 Jun 2009 04:15:58 GMT

My first post and IO would like to start by sying how great these fourms are and how much they have helped already.

1. My first question is how long after acount is paid are CA's allowed to reportto the CRA's?

2. After a CO is the OC still allowed to report on the same account as the CA?

3. Is it common pratice for the OC to repetidly report as a paid as agrees then to report a CO then repetidly report as paid as agrees and so on?

4. is it legal for the OC to CO the account then collect on it? I am assuming it is just checking.

All above questions are in reference to a CIT Bank/DFS account I am tring to recieve a GW deletion on for being PIF. I am having trouble getting a GW on the account so I am looking for any discrepencies I can find to weigh the decision

any help greatly appreciated.

Thanks

Re: CA reporting questions

RobertEG — Thu, 11 Jun 2009 04:50:01 GMT

A CA probably wont continue monthly reporting to a CRA once the account is paid in full, but from your perspective, that is irrelevant. Same goes for an OC after payment of a CO. Drop off is governed only by the DOFD that led to the CO or CA, not anything they have reported after that date. It is 7 1/2 years from the DOFD, pursuant to FCRA 605(c).

Payment of either a CO or CA does not, in and of itself, remove that reporting from your CR. If you have done a PIF, they can not longer pass it on for further collection, or bring legal action for a judgment. But it remains in your CR until expiration of 7 1/2 years from the DOFD. The only way to get it off your CR now is a GW plea.

Re: CA reporting questions

Anonymous — Thu, 11 Jun 2009 05:08:13 GMT

Thanks for the reply!

Ive been tring to get a GW removal from dell on the account in topic, When I contacted them I pointed out all I thought was wrong on the CR, that was yesterday. I just now pulled my report and they fixed everything I questioned and marked the account as PIF after CO. Would I be better off leaving the account on the CR as a paid CO rather then removeing it? My AAoA is 4.6 years, and history is at 9 years and the dell account is due to fall in 2011.

Re: CA reporting questions

Anonymous — Thu, 11 Jun 2009 05:11:05 GMT

I forgot to mention, the account was sold to Pentagroup who did a PFD so I am only stuck with the DFS.

Message Edited by audiovibe on 06-11-2009 12:11 AM

Re: CA reporting questions

RobertEG — Thu, 11 Jun 2009 08:07:33 GMT

I am a bit confused, so please elaborate.

Who is the OC on the "account in question?"

Who have you sent a PFD offer to?

Who is dell? I thought CITI was the account in question...

Is it under collection?

I have no idea what a "DFS" is.

Re: CA reporting questions

Anonymous — Fri, 12 Jun 2009 05:48:40 GMT

The OC is CIT Bank/DFS (Dell financial services) The PFD was with the CA (Pentagroup) as Dell would not accept payment. It was CO and sent to CA the PFD was accepted a few months ago and is cleared. CA is no longer on CR and dell is showing CO. All questions in first post were to gain leverage for a GW removal from dell Thanks for helping

Message Edited by audiovibe on 06-12-2009 12:48 AM

Re: CA reporting questions

Anonymous — Fri, 12 Jun 2009 05:11:39 GMT

after I contacted dell financial services about the inaccuracies on my report they updated to the CRAs. When they updated to Equifax they posted it as reposession/foreclosure and it tanked my score by almost 30 points. After they sold the debt to the CA are they still allowed to report on the TL?

Thanks

Re: CA reporting questions

Anonymous — Fri, 12 Jun 2009 06:00:37 GMT

The OC and one CA can report. If the OC sold the account it must show a zero balance.

Re: CA reporting questions

Anonymous — Fri, 12 Jun 2009 08:42:19 GMT

Just so I'm on a huge solid fondation here; the original creditor can still report in the payment history after the debt is sold? If thats the case its not very fair to have 2 current reporting on the same old debt.

Thanks

Message Edited by audiovibe on 06-12-2009 03:41 AM

Message Edited by audiovibe on 06-12-2009 03:42 AM