topic Re: Debt reporting again after dropping off after the 7 year time period in Rebuilding Your Credit

Debt reporting again after dropping off after the 7 year time period

Coreyswife4ever — Mon, 04 Jan 2010 20:58:26 GMT

Happy New Year...

I checked my credit report last week and noticed an account was added. Back in 2000 I had a car repossessed and the creditor reported it on my credit report. They even went as far as having my wages garnished. In 2004 I was laid off from my job that the wage garnishment was coming out of. Since then I completely forgot about them and it dropped off of my credit report a few years ago. Well last week I checked my credit report and I saw a company called Santander on it. I called them because I had no idea who this company was. They told me that they're collecting on a debt I had with Triad which is the car company that was already reported and dropped off. Since that debt is over 7 years old and has already reported on my credit report and dropped off can Santander report it again?

I'm a little worried because the last payment received was in 2004 and stopped after that. The last payment made wasn't to that company so I hope I have a good chance of having it removed. This will be the only thing in my way of purchasing my house this year.

Re: Debt reporting again after dropping off after the 7 year time period

llecs — Tue, 05 Jan 2010 16:15:33 GMT

If you search in here, others have reported the same. I haven't followed the details, though.

Is it reporting negatively? I believe they are an OC who is on a buying spree of old accounts. If not negative, then you may benefit from its reporting with the added history. If it is a CA, it cannot report. If it shows lates, those can't report either if the repo was in 2000.

Re: Debt reporting again after dropping off after the 7 year time period

Red22 — Wed, 06 Jan 2010 03:21:53 GMT

Something similar happened to me. My account was from 2000 and now this same account has reappeared as Santander Consumer USA. I didn't have a current credit report so I called Trans Union to find out the date of deletion and they said 2016. I was appauled at this and sent out a dispute letter for reporting of inaccurate information and beyond 7 years SOL. I'll let you know my outcome!

Re: Debt reporting again after dropping off after the 7 year time period

RobertEG — Wed, 06 Jan 2010 03:42:39 GMT

If the DOFD on the debt was more than 7 1/2 years ago, the CRA is in clear vioation of FCRA 605(c) by inclduding any such collection in your credit report.

Call them. If that does not get instant sucess, file a dispute letter with the CRA for violation of section 605(c) of the FCRA.

Re: Debt reporting again after dropping off after the 7 year time period

Red22 — Wed, 06 Jan 2010 16:12:22 GMT

Thanks. I will do that and will post the outcome!!

Re: Debt reporting again after dropping off after the 7 year time period

llecs — Wed, 06 Jan 2010 17:07:45 GMT

I wouldn't do anything just yet. Is there a red flag listed next to that TL on your FICO CR? If not, it helps.

I studied one other post similar this morning and it was re-added, but re-added as a positive account.

Re: Debt reporting again after dropping off after the 7 year time period

Red22 — Wed, 06 Jan 2010 17:36:46 GMT

There is no red flag, but the account is listed as an account and not a collection!

Re: Debt reporting again after dropping off after the 7 year time period

Red22 — Wed, 06 Jan 2010 18:15:07 GMT

Well I called Trans Union and TU said that Santander told them the closing date on this account was Nov. 2009. I told the CSR that I disagreed with the date because this account was an old account from 8/2000, I know this because when I bought a car in 2003, & the collection was on my CR. She asked if I wanted to dispute the dates over the phone and I said no and hung up. I did not dispute over the phone since I've already mailed out a dispute letter CMRRR. This is going to be a doozy....I'm already hunting around to see if I can find an old CR.

Re: Debt reporting again after dropping off after the 7 year time period

llecs — Wed, 06 Jan 2010 19:12:18 GMT

Red22 wrote:
There is no red flag, but the account is listed as an account and not a collection!

Santander is an OC, not a CA.

Re: Debt reporting again after dropping off after the 7 year time period

ProudMomof5 — Thu, 07 Jan 2010 17:42:25 GMT

Santander may be an OC but that wasn't the OC I financed my car through. I financed my car through Triad. On my credit report it's posting as a chargeoff. Even if they are an OC they shouldn't be able to start over the date of delinquency.

Re: Debt reporting again after dropping off after the 7 year time period

llecs — Thu, 07 Jan 2010 17:48:18 GMT

ProudMomof5 wrote:
Santander may be an OC but that wasn't the OC I financed my car through. I financed my car through Triad. On my credit report it's posting as a chargeoff. Even if they are an OC they shouldn't be able to start over the date of delinquency.

Santander bought out several companies and decided to re-report some old stuff. I'm just now studying this, but if the account is reporting bad on the FICO report it is because they may have illegally re-aged some stuff. Appears it'll be a fight for many.

Re: Debt reporting again after dropping off after the 7 year time period

ProudMomof5 — Thu, 07 Jan 2010 18:14:59 GMT

That's exactly what they're doing. I contacted them and they told me to contact Transunion which I did. If they don't delete it I will report them to the BBB and if I need to I will send the BBB a copy of my old credit reports that show it's already been listed on my credit report for 7 years.

Re: Debt reporting again after dropping off after the 7 year time period

ProudMomof5 — Thu, 07 Jan 2010 18:35:44 GMT

I filed a complaint with the BBB. I've been working too hard this last year cleaning my credit to have something that's been reported for 7 years get reported again for an additional 7 years.

Re: Debt reporting again after dropping off after the 7 year time period

Red22 — Thu, 07 Jan 2010 20:26:59 GMT

My OC was also Triad. I filed a complaint with the FTC...should I file one with BBB too?

Re: Debt reporting again after dropping off after the 7 year time period

ProudMomof5 — Fri, 08 Jan 2010 15:40:50 GMT

I would try anything at this point. When I went on the BBB website and looked Santander up they have over 500 complaints. Alot of the complaints they received are regarding the same thing.

Re: Debt reporting again after dropping off after the 7 year time period

Anonymous — Fri, 08 Jan 2010 15:59:51 GMT

We had a car with Drive Financial years ago, and when my husband lost his job we turned the car into them. Santander bought their debts, and even though the car was repossessed and left with no owning balance Santander is trying to collect for the remaining loan amount that we had BEFORE we turned the car in. We also have no idea how to begin fighting this, but its a large TL on our credit that should not be there at all.

Re: Debt reporting again after dropping off after the 7 year time period

Anonymous — Fri, 08 Jan 2010 16:08:19 GMT

I have the same situation. Car purchased from triad in 2000 DOFD 01/2003. It was removed from EQ and Santander posted on TU with new dates. Estimated drop off 2016. I filed complaint with BBB and AG. I disputed with CRA and came back verified. At the time i did not know that Santander purchased Triad so I assumed it was a CA. I sent DV and cam back with formletter "we have reviewed our records and the are accurate" I did contact an attorney and he has sent a letter asking them to provide all the info I have requested (signed contract and payment history since they are the OC now) or remove it. They also show the account changing from Joint to individual?? I have copies of other credit reports that show the original dates.and sent them to CRA and they didnt do anything. I paid $10.50 and requested my file details and am waiting on the results.

Re: Debt reporting again after dropping off after the 7 year time period

Red22 — Fri, 08 Jan 2010 16:48:23 GMT

What state are you in? I would like to do the same!

Re: Debt reporting again after dropping off after the 7 year time period

ProudMomof5 — Fri, 08 Jan 2010 17:22:32 GMT

Who are you directing the question to?

Re: Debt reporting again after dropping off after the 7 year time period

Red22 — Fri, 08 Jan 2010 17:29:34 GMT

Okay you guys, This issue is just a pain and it's been taking way too much of my thoughts throughtout the morning...so I called Santander to inquire about the account. After being on hold and transferred a couple of times and finally ended up in the Bankruptcy Dept., the CSR asked what was the purpose of my call and I stated that I wanted to inquire about an outdated account that was placed on my CR. He got my info and said when was the account open and I told him 2/2000. I then explained that this activity is against the law, etc... I was put on hold for about 1.5 minutes (twice I might add). When he finally came back he told me that this was a Triad Acct. (duh) and asked when was the account re-inserted onto your CR, I told him 11/2009. He said that they just purchased Triad in November 2009 and there is a glitch in their system and I should just dispute it with the CRA and that should take care of it.

He made it sound so easy....but I know better!!