Re: Okay HappyDays!!!!!

Anonymous · ‎03-03-2008

...and anyone else willing to help.

HappyDays told me to look for SOL TL's first and I've been asking over and over again about DOFD/DOLA and realized AFTER pulling my EQ CR that EX is extremely vague with documenting info (no addresses, no DOFD/DOLA, NOTHING). EX gave me nothing to work with.

So now I'm dissecting my EQ CR and there are two DOFD Dates: one just DOFD and the other is "DATE MAJOR DELINQUENCY FIRST REPORTED". In reference to SOL, which of these two dates do I use (I'm in TX - SOL is 4 yrs post DOFD)? I have 5 OC TLs that are beyond SOL based on DOFD(one a utility) and 3 of them were sold to CA which is ALSO SOL based on DOFD.

How do I proceed?

SerenityBound....indeed!

Anonymous · ‎03-03-2008

SerenityBound wrote:
...and anyone else willing to help.

HappyDays told me to look for SOL TL's first and I've been asking over and over again about DOFD/DOLA and realized AFTER pulling my EQ CR that EX is extremely vague with documenting info (no addresses, no DOFD/DOLA, NOTHING). EX gave me nothing to work with.

So now I'm dissecting my EQ CR and there are two DOFD Dates: one just DOFD and the other is "DATE MAJOR DELINQUENCY FIRST REPORTED". In reference to SOL, which of these two dates do I use (I'm in TX - SOL is 4 yrs post DOFD)? I have 5 OC TLs that are beyond SOL based on DOFD(one a utility) and 3 of them were sold to CA which is ALSO SOL based on DOFD.

How do I proceed?

SerenityBound....indeed!

Not HappyDays...........but you use the DOFD........not the Date major deliquency first reported.........

Anonymous · ‎03-03-2008

Thanks, Sidewinder!

I was actually sending this to you in response to your post to chints, but then put it in a new thread. But that's good news! I recall Happy saying that points are higher when you get an OC removed vs a CA.

Now, is there an SOL/OBSOLETE ltr someone can show me? I'll get right on this.

SerenityBound...indeed!

Anonymous · ‎03-03-2008

SerenityBound wrote:
Thanks, Sidewinder!

I was actually sending this to you in response to your post to chints, but then put it in a new thread. But that's good news! I recall Happy saying that points are higher when you get an OC removed vs a CA.

Now, is there an SOL/OBSOLETE ltr someone can show me? I'll get right on this.

SerenityBound...indeed!

Legal SOL just determines how long they have to sue you and win. They can always sue past SOL but when you bring this to the judge's attention, they are sent away.

Legal SOL can be reset/tolled. DOLA is important with legal SOL.

Reporting SOL is 7 years-7.5 years past DOFD.

Message Edited by sidewinder on 03-03-2008 07:38 AM

Anonymous · ‎03-03-2008

Okay, so let's take one TL and break it down:

First Premier

Date Opened: 08/99

Date Reported: 09/03

Date Last Pymt: 10/01

DOFD: 06/01

If I'm understanding correctly legal SOL for FP to sue is UP (4 yrs) based on DOFD. However, re: Rptg SOL it stays on for 7yrs from 09/03?

BTW this was sold to Arrow and their info is:

Date Reported: 02/08 (probably because I'm in disp with CRA)

DOFD: 06/01

"Consumer Disputes" is annotated on the TL. That's all the info arrow is showing.

What's the process?

Anonymous · ‎03-03-2008

SerenityBound wrote:
Okay, so let's take one TL and break it down:

First Premier
Date Opened: 08/99
Date Reported: 09/03
Date Last Pymt: 10/01---If you haven't done anything to reset or toll SOL, and SOL is 4 years, then yes it is up and they can't sue.
DOFD: 06/01-------------------Should be removed from CR 7-7.5 years from this date

If I'm understanding correctly legal SOL for FP to sue is UP (4 yrs) based on DOFD.
However, re: Rptg SOL it stays on for 7yrs from 09/03?

From DOFD........06/01

BTW this was sold to Arrow and their info is:
Date Reported: 02/08 (probably because I'm in disp with CRA)
DOFD: 06/01
"Consumer Disputes" is annotated on the TL. That's all the info arrow is showing.

What's the process?

If you have done nothing, such as made payments, enter payment agreements, etc to reset or toll Legal SOL, then it is up.

Reporting SOL will be up in June, regardless.

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=17466

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=8713

Message Edited by sidewinder on 03-03-2008 08:03 AM

Anonymous · ‎03-03-2008

COOL!

So I can look forward to BOTH TL's dropping off in June sometime? That's awesome!

Thanks sooooo much Sidewinder!

Ummmm, okay so TL 2 - lol:

First Nat'l Bank of Marin - CO'd

Date Open: 09/02

Date Reported: 04/07

Date Last Pymt: 02/03

DOFD: 03/03

**Shows NO balances/limits/$ info on the TL

Sold to Elite Recovery:

Date Reported: 01/08

DOFD: 05/03 (noticed diff DOFD but Elite references Bank of M in the acct no - confused there)

So, how do I handle it when the SOL is up with OC? And do I DV the CA?

SerenityBound...indeed!

Anonymous · ‎03-03-2008

SerenityBound wrote:
COOL!

So I can look forward to BOTH TL's dropping off in June sometime? That's awesome!

Thanks sooooo much Sidewinder!

Ummmm, okay so TL 2 - lol:
First Nat'l Bank of Marin - CO'd
Date Open: 09/02
Date Reported: 04/07
Date Last Pymt: 02/03
DOFD: 03/03
**Shows NO balances/limits/$ info on the TL

Sold to Elite Recovery:
Date Reported: 01/08
DOFD: 05/03 (noticed diff DOFD but Elite references Bank of M in the acct no - confused there)

So, how do I handle it when the SOL is up with OC? And do I DV the CA?

SerenityBound...indeed!

It is illegal for a CA to change DOFD, that is set by the OC and cannot be changed unless the account was brung current before charge off.

If there has been nothing going on with this account to reset or toll legal SOL, legal SOL is up if it is 4 years as you said.

Still a few more years before it is removed from CR.

If legal SOL is up, send a DV to CA.

Anonymous · ‎03-03-2008

Okay so my intent is to use the Lonnster DV letter to Elite and I will send out FedEx today.

I have a diff question. I have 2 TLs, same OC, two diff accts. One is a CO with DOFD of 11/02 (rptg SOL is up next Nov) and Date Reported 08/03

The other has no DOFD but was opened around the same time and only show an OPEN DATE but listed as "Closed or Paid Account Zero Balance - Unsecured". **I'm guessing this acct was transferred to the first one*** This 2nd TL looks like a good one.

So with SOL up on the first TL and as it hasn't been sold told a CA, how should I proceed with this one?

SerenityBound....indeed!

Anonymous · ‎03-03-2008

SerenityBound wrote:
Okay so my intent is to use the Lonnster DV letter to Elite and I will send out FedEx today.

I have a diff question. I have 2 TLs, same OC, two diff accts. One is a CO with DOFD of 11/02 (rptg SOL is up next Nov) and Date Reported 08/03

The other has no DOFD but was opened around the same time and only show an OPEN DATE but listed as "Closed or Paid Account Zero Balance - Unsecured". **I'm guessing this acct was transferred to the first one*** This 2nd TL looks like a good one.

So with SOL up on the first TL and as it hasn't been sold told a CA, how should I proceed with this one?

SerenityBound....indeed!

Had a reply typed all out and about to hit submit and then BOOM, thunders LOUDLY and power goes out. Ugh.

I'm not sure what FedEx offers, but for $5.21 you can send CMRRR with USPS and it usually takes 2-3 days. You get the green card back where they signed for it.

If past SOL, you can attempt PFD with the OC, DV isnt' an option with them.

OR

Let it be and let if fall off next year.

What type of account is it? I don't think they can normally transfer balances of one account to another. But I could be wrong, have never heard of that happening, but doesn't sound right.

Message Edited by sidewinder on 03-03-2008 09:22 AM

Okay HappyDays!!!!!

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Okay HappyDays!!!!!