Paid Charge Off/ Dispute/ Re-Aging Dilemma

[ScarletFever]

Thanks Guiness..spoke to OC today..they are no help. They report a DOFD of 03/2006, when the charge off was contracted to sell! By then, an original credit line of $600 grew to $3084 by Oct 2006, which makes it impossible to have a DOFD and sale of CO in the same two month period in 2006! By October, the account was re-sold, and sold again to Pressler in 2007, so it looks like Pressler is off the hook. OC told me to call another dept to track the account. No help, everyone passing the buck, and regurgitating the "verified" line, and "they report" line...there seems to be little recourse to change wrong data!

[Anonymous]

Do you have copies of old credit reports showing the 03 DoFD?  Did you keep all your statements so you will be able to prove the account is much older than 06?

[ScarletFever]

I have CR reports from 2008 showing 60 day lates beginning in Dec 2003, going up to 150 day lates before CO. I have one statement from 2004 that shows a balance of 1900 minimum payment due from an original credit line of 300 that grew to 600. Should I post the CR from 2008?

[Anonymous]

Yes, please.  Is it directly from one of the CRAs?

[ScarletFever]

Yes...Experian...I will post it later tonight when I get home from work. Thank you.

[ScarletFever]

Okay Guinness..thanks for the help..here is the data from Experian, March, 2008.Looks like that I caught up, but never did. That is how the balance went from $600(originally a $300 limit) , to over $3000 in two years. I sent a few bucks here and there, but never caught up for all intents and purposes. Appreciate any feedback...I have sale document from OC that states a sale from OC in Jan 2006 to Arrow, but executed on Sep-Oct 2006 to Collect America, then sold again January of 2007 to Pressler.

Date Open: Feb 2000

Last Reported Oct 2006, (now updated)

High balance; $3084

Status;Transferred, closed/account charged off; $3084 written off.

Account history:

Collection as of Aug 2005, Apr 2005, Mar, 2005 Feb 2005, Jan 2005,Dec 2004,Nov 2004, Oct 2004, Sep 2004, Aug 2004,July 2004, Jun 2004, May 2004, Apr 2004, Mar 2004, Feb 2004, Jan 2004,

Charge off as Oct 2006, Sep 2006

150 days as of Aug 2006, Nov 2005,

120 days as of Jul 2006, Oct 2005, Sep 2005

90 days as of Jun 2006, Jul 2005, Jun 2005, May 2005

60 Days as of May 2006,Dec 2003.

[ScarletFever]

This is what the entry looks like now on Equifax...

 

HSBC BANK
Address:  PO BOX 81622 SALINAS, CA 93912 (800) 477-6000 Account Number: xxxxxxxxxxxxxxxxxx....
Address Identification Number: Not Available
Status:  Transferred, closed. $636 written off.
Date Opened: 02/2000 Reported Since: 10/2006 Date of Status: 10/2006 Last Reported: 10/2006	Type: Revolving Terms: NA Monthly Payment: $0 Responsibility: Individual		Credit Limit/Original Amount: NA High Balance: $3,084 Recent Balance: NA Recent Payment: NA
Your Statement:  Account information disputed by consumer (Meets requirement of the Fair Credit Reporting Act).		Creditor's Statement:  Purchased by another lender.
Account History: Charge Off as of Oct 2006

[Anonymous]

As long as you never caught the account up, your DoFD, from what I can see, should be in 03.  That was the time you first were late and never got the account current again.  It was CO'd in 06.  Why they waited that long I do not know. 

They are using the date of the CO as your DoFD and they cannot do that.  I would write a letter to the OC and one to owns the account now.  Include copies of the CR entries and quote the FCRA :

(c) Running of Reporting Period
(1) In general. The 7-year period referred to in paragraphs (4) and (6) 3 of subsection
(a) shall begin, with respect to any delinquent account that is placed for collection
(internally or by referral to a third party, whichever is earlier), charged to profit and
loss, or subjected to any similar action, upon the expiration of the 180-day period
beginning on the date of the commencement of the delinquency which immediately
preceded the collection activity, charge to profit and loss, or similar action.

Let them know what they are doing is a violation of the FCRA and ask them to correct it.  At the same time I would file complaints with the BBB, your states AG office and the FTC.

It is a start, see where it goes from there.

[ScarletFever]

Thanks for all your help Guiness...account was paid off in 2007 to Pressler. I need to get to work....As always, the members here are the absoute best...

[ScarletFever]

Okay Guinness...I sent a letter and documentation to HSBC, after talking to them a couple weeks ago. Typical, I receive a letter back saying they don't own the account, and call Collect America. How bureaucratic and non-responsive.HSBC ignored that they are responsible for correct DOFD, and ignored my documentation and demands for disclosure under FCRA statute A 609(a)(1). Do I now send an ITS letter? Do I call Collect America and demand removal? Can they even do that?