topic Re: Collections reporting in New York State in Rebuilding Your Credit

Collections reporting in New York State

Anonymous — Thu, 18 Jun 2009 03:35:45 GMT

I thought I read on here that collections in NY state can only be reported for five years but I've searched and cannot find where I saw that. If that is so I have a couple things I can get off. Can anyone point me in the right direction?

Re: Collections reporting in New York State

aquatic1 — Thu, 18 Jun 2009 04:51:20 GMT

@Anonymous wrote:
I thought I read on here that collections in NY state can only be reported for five years but I've searched and cannot find where I saw that. If that is so I have a couple things I can get off. Can anyone point me in the right direction?

If you are a current NYS resident, PAID collections must be deleted from CR's. I also believe that PAID JUDGEMENTS must also be removed.

Re: Collections reporting in New York State

Anonymous — Thu, 18 Jun 2009 13:58:33 GMT

After five years they have to be removed? Is that in writing somewhere that I can send to the CRAs as I disputed one and it did not come off.

Re: Collections reporting in New York State

llecs — Thu, 18 Jun 2009 14:05:57 GMT

Borrowing this from a recent RobertEG post:

Here is the governing NY statute, as set forth in section 380(j)(a)(iv) of the NY FCRA:

“accounts placed for collection or charged to profit and loss which antedate the report by more than seven years; or accounts placed for collection or charged to profit and loss, which have been paid and which antedate the report by more than five years;”

OP, make sure it is PIF. Also make sure it isn't reporting as a positive account (e.g. no lates, CO reference, etc.)

Re: Collections reporting in New York State

Anonymous — Thu, 18 Jun 2009 18:26:44 GMT

With collection accounts (CAs), it's pretty clear that it's a collection account.

I'm currently dealing with a CapOne situation where the accounts went into collection, were paid off more than five years ago, but CapOne's TL's don't reflect that the accounts were "collection" accounts. They're trying to hold me to the 7.5 year reporting even though they were definitely collection accounts.

But if your accounts are CAs, then it should be clear cut.

Re: Collections reporting in New York State

Anonymous — Fri, 19 Jun 2009 12:12:11 GMT

jesslyn wrote:
With collection accounts (CAs), it's pretty clear that it's a collection account.

I'm currently dealing with a CapOne situation where the accounts went into collection, were paid off more than five years ago, but CapOne's TL's don't reflect that the accounts were "collection" accounts. They're trying to hold me to the 7.5 year reporting even though they were definitely collection accounts.

But if your accounts are CAs, then it should be clear cut.

Does Cap One or did it ever show as a charge off?

Re: Collections reporting in New York State

Anonymous — Fri, 19 Jun 2009 12:15:08 GMT

debtfree09 wrote:
After five years they have to be removed? Is that in writing somewhere that I can send to the CRAs as I disputed one and it did not come off.

Click on the state resources thread in my signature and scroll down to New York and follow the directions for looking up NY FCRA. It will be there. Under Article 25, section 380-j.

Re: Collections reporting in New York State

beenthere24 — Wed, 03 Mar 2010 09:39:27 GMT

New to the site. Live in NYS. How do I get to the new york state threads?

Many years ago when I filed bankruptcy, my trustee made me take a credit class. The woman who was giving the class, said that in NYS the bureau's cannot report BOTH the bankruptcy and the individual accounts included in it. She said that you had to provide your (i think it was) Schedule E to the bureaus and as long as those accounts were there, they had to remove them.

I cannot find any info about this at all. ANY SUGGESTIONS?

Any help/info would help.

Re: Collections reporting in New York State

llecs — Wed, 03 Mar 2010 15:15:03 GMT

beenthere24 wrote:
New to the site. Live in NYS. How do I get to the new york state threads?

Many years ago when I filed bankruptcy, my trustee made me take a credit class. The woman who was giving the class, said that in NYS the bureau's cannot report BOTH the bankruptcy and the individual accounts included in it. She said that you had to provide your (i think it was) Schedule E to the bureaus and as long as those accounts were there, they had to remove them.

I cannot find any info about this at all. ANY SUGGESTIONS?

Any help/info would help.

We don't have any ongoing NYS threads here, I don't believe, but the search feature is really good at filtering what you're specifically looking for. Per BK and reporting TLs, I have never seen that before. I can tell you that NYS' statutes are organized fairly well and you may have to go to the source on that one for more info.

Re: Collections reporting in New York State

Anonymous — Wed, 03 Mar 2010 18:01:42 GMT

I have a cap1 card, it is CO, and I am in NYS. I stil lowe a balance on it, but I am working on getting it paid.

With that 5 year law, does that still count from the DoFD, or from the first CO date?

Re: Collections reporting in New York State

llecs — Wed, 03 Mar 2010 18:25:28 GMT

gymbo731 wrote:
I have a cap1 card, it is CO, and I am in NYS. I stil lowe a balance on it, but I am working on getting it paid.

With that 5 year law, does that still count from the DoFD, or from the first CO date?

It's my understanding that it is from DOFD.