PAST SOL

[Anonymous]

I had a CC back in 2000 and unfortunately I let it go bad with an amount of $450.00. Well Portfolio Credit Recovery has showed up and acquired the debt and it has posted as a new collection on my credit. I sent them a request for verification and just got back the letter from them and it clearly states in the letter "2000" as the date for this account. Wouldn't this fall out of SOL? Any help??

[llecs]

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Disco44 wrote:

I had a CC back in 2000 and unfortunately I let it go bad with an amount of $450.00. Well Portfolio Credit Recovery has showed up and acquired the debt and it has posted as a new collection on my credit. I sent them a request for verification and just got back the letter from them and it clearly states in the letter "2000" as the date for this account. Wouldn't this fall out of SOL? Any help??

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There are two time frames at play here: CRTP and SOL. CRTP is 7 years from DOFD. So, if the first delinquency was 6/2000, then it is supposed to fall off in June. According the the FCRA, it is up to "7 years plus 180 days", so it could be on longer. SOL would vary. It is set by states and could be from 3 yrs to 10 yrs plus, depending on where you live and maybe where the debt occured at. Odds are, you are past SOL, meaning that they cannot sue and win.

If you were to pull TU or EX reports directly from each CRA (not here), then those CRs will list the drop off date for this CA. You can subtract 7 years and get a very accurate DOFD.

[Anonymous]

Thanks for the reply, I looked at an old report from 06 and the drop date for the account they have inquired about is 03/08, thats from TU. Should I send them another letter and point this fact out?

[llecs]

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Disco44 wrote:

Thanks for the reply, I looked at an old report from 06 and the drop date for the account they have inquired about is 03/08, thats from TU. Should I send them another letter and point this fact out?

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I'd order a new TU CR from TU. Things change. Also, if by the off chance the account was re-aged, you need the before and after snap-shot of the change. I'd send the first page (listing name, address, account date, etc) and the page with that account if/when you dispute.

You can order your report for free at annualcreditreport.com or for free if denied in the past 60 days.

[Anonymous]

llecs, thank you for helping, but looking closer it appears that it was sold to another CA, and they posted a March 08 date for this debt. I have sent a DV letter and just got a letter with normalr information but nothing really stating that it is mine, on top of that the last EU report shows it should have been dropped in March?? Or am I all wrong? Should I dispute with EU and state past SOL?

[llecs]

I'd still pull a new version of the CR (TU).

Was the letter you got in response to the DV letter you sent? Does the letter you received recently match the contact info (CA) on the DV letter you sent? If yes to both, I would send the dispute to TU with a copy of the previously mentioned pages of the old and new report showing that the CA re-aged the account (if the drop off dates are different) and that the CRTP expired. Edit to add....send everything CMRRR. There are some letters in here somewhere that addresses items past CRTP and other letters addressing re-aging.

SOL may not have expired - depends on what state you live in.

Message Edited by llecs on 05-13-2008 10:59 PM