Collection Re-Aging Issues- HELP

Anonymous · ‎04-23-2008

Ok, this is seriously frusterating. I had a Providian credit card that I stopped using and it went to collection in 2003. My husband and I, within the last 6 months, paid about 90% of our collection accounts off to try and buy a house. Since we have had mortgage broker inquiries on our credit, all of a sudden Midland Credit Management bought my old Providian account, repoated it as a new debt, re-aged it to 2008 and it killed my credit score. Any help on how I can get them to put the correct aging on it, which would be 2003, definitely not 2008 and try and get my credit score back. Any and suggestions would be greatly appreciated!

Anonymous · ‎04-23-2008

Is it being reported as 2008 with the DOFD the same, or is the DOFD/DOLA and the report date the same?. What state are you in?

Anonymous · ‎04-23-2008

Sorry, Guiness I am new to this. What is DOFD and DOLA? I am in NH. I know that the SOL for us is 3 years, so technically Providian was dead in the water in say 2007 for argument sake.

Anonymous · ‎04-23-2008

Frustrated01 wrote:

Sorry, Guiness I am new to this. What is DOFD and DOLA? I am in NH. I know that the SOL for us is 3 years, so technically Providian was dead in the water in say 2007 for argument sake.

DOFD = Date of First Delinquency

DOLA = Date of Last Activity

Welcome to the FICO forums, Frustrated01.

Please see the abbreviations thread stickied at the top of this forum. Also please read the Credit Scoring 101 thread linked in my siggy if you haven't already.

Anonymous · ‎04-23-2008

MIDLAND CRED

Creditor Name: MIDLAND CRED MIDLAND CREDIT MGMT

Account No.: 852492**** 852492****

Original Creditor: PROVIDIAN PROVIDIAN

Responsibility: Individual Individual

Condition: Derogatory Derogatory

Original Balance: $2132 $2132

Balance: $3084 $3038

Date Opened: 09/27/2007 09/2007

Date Reported: 04/14/2008 01/18/2008

Remarks:

[TransUnion] Account information disputed by consumer, meets FCRA requirements

[Experian] Customer disputed account - reported by subscriber.

[Equifax]

This is what is has on my CR.

Anonymous · ‎04-23-2008

Welcome and no problem. DOFD is what is normally used to base the 7 years a bad item will remain on your report. (Date of First Delinquency)It is the time you were delinquent and never caught up. Basicly, what caused it to be CO or make it a bad item. DOLA is date of last activity. That could mean a number of things like making a payment, etc.

Yes, if your SOL is 3 years, they could sue but not win based on beyond SOL. That is if you went to court.

Look on your report and see what is listed for both, if still on there, for DOFD and DOLA.

Anonymous · ‎04-23-2008

Not only have they re-aged this stupid account, but the credit card only had a $1500 credit limit and from the time Providian placed it for collection at $2k, it ballooned to over $3k when Midland took it. What the heck did they charge? I am afraid to write Midland and ask them for an itemized account for fear they might take it as an admission of liability. These people are awful!

Anonymous · ‎04-23-2008

What type of report are you looking at?

Message Edited by guiness56 on 04-23-2008 12:53 PM

Anonymous · ‎04-23-2008

Frustrated01 wrote:

Not only have they re-aged this stupid account, but the credit card only had a $1500 credit limit and from the time Providian placed it for collection at $2k, it ballooned to over $3k when Midland took it. What the heck did they charge? I am afraid to write Midland and ask them for an itemized account for fear they might take it as an admission of liability. These people are awful!

The first thing you need to do is read, read, read, and then read some more.

Especially read the threads stickied at the top of the forum.

Find some posts discussing DV (debt validation). There are many, many threads on this board discussing collection agencies and how to deal with them when they appear on your reports.

Writing Midland and asking them for an itemized account cannot be construed as an admission of debt.

Anonymous · ‎04-23-2008

I have treucredit. It does not show the DOFD or DOLA.