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Hi all. I'm new here and this is my first question. Please bear with me. I had a CAP1 card that was defaulted on around the time of my divorce (2010-2011). I no longer have any paperwork regarding this account. It was sent to Portfolio Recovery for collections and they're reporting a date open/placed for collections as 11/25/2014. Can they do this years after it was first defaulted on? This not only makes it seem a newer debt, but it places it back into SOL for my state. I had thought this would've fallen off my report or be very close to it by now. I'm hoping to get a mortgate in the spring, so is there anything I can do about this account? Thanks in advance.
The Open date for a collection is only the date that the debt collector obtained their collection authority.
It is not to be confused with the Open date of the original creditor account.
No state SOL is based on the date that a debt collector obtains collection authority.
A reported open date for a collection is not used to determine its eventual credit report exclusion date, which is based only on the DOFD.
The reported open date only states that, as of that date, the account that earlier became delinquent still remained delinquent up to at least that date.
OP, if I were you I'd hit the rebuilding forum and read up on PFDs (pay for deletes). That may be your best avenue at this time to get it removed early. These things can get done quick sometimes if you're lucky (depends on creditor) but can take time and persistence other times. Since you are looking toward a mortgage in less than a year I'd start tackling that now to give yourself the best chance of being in a clean bucket come mortgage app time.