Reported by Original Creditor and Collection Agency/Law Firm!!

[Anonymous]

I had a New York & Company CC opened in September 2000.  According to TU, It is scheduled to removed 8/2008.  Now I also have RJM Acquisitions LLC/RJM reporting the same exact info on my report but not scheduled to be removed until 10/2008.  My last payment for this card was September 2001 which I guess can be used as my DOLA.  This information is from my TU report as of 2/8/2008.  The RJM is not on my EQ 2/8/2008 just the Lerner’s. (FYI---Haven’t received my EX updated report yet)

The Exact Detail is as follows:

New York & Company #581717378

Balance:  $739

Date Updated:  5/2007

High Balance:  $739

Credit Limit:  $400

Loan Type:  CHARGE ACCOUNT

Remarks:  PURCHASED BY ANOTHER LENDER

Estimated date that this item will be removed:  8/2008

Pay Status:  CHARGED OFF AS BAD DEBT

Account Type:  REVOLVING ACCOUNT

Responsibility:  INDIVIDUAL ACCOUNT

Date Open:  9/2000

Date Closed:  5/2002

RJM Acquisitions LLC/RJM #R00000058171737

Balance:  $739

Date Updated:  1/2008

Original Amount:  $739

Original Creditor:  01 NEW YORK COMPANY

Past Due:  $739

Loan Type:  FACTORING COMPANY ACCOUNT

Remarks:  PLACED FOR COLLECTION

Date Placed for collection:  6/2007

Estimated date that this item will be removed:  10/2008

Pay Status:  COLLECTION ACCOUNT

Account Type:  OPEN ACCOUNT

Responsibility:  INDIVIDUAL ACCOUNT

Is this legal?  What should I do?  Is this a PFD situation?  I’m confused!!!

[Anonymous]

Are you past SOL?  Can you wait for these to fall off in August and October?

[Anonymous]

I am past SOL.  I was planning to wait til August and October but, I wanted to start applying for new credit ASAP!  And when I pulled my FICO report last night, the RJM Collection is reporting as a negative item as of 10 months ago.  Isn't that considered a recent baddie and won't it hurt my chances of getting approved?  From my research on whogavemecredit.com and finance globe, the people who get approved with bad credit have baddies at least 2 years old.  I don't want RJM to ruin my chances of getting approved. 

What do you think? 

[Anonymous]

I was in a similar situation, although no expert...I disputed both online through CRA and the OC TL came off...

I don't think that both can report the same debt for the same amount...

[Anonymous]

Thanks debt phree!  Do you have a sample letter of what you sent? 

[Anonymous]

---

dett_phree wrote:

I was in a similar situation, although no expert...I disputed both online through CRA and the OC TL came off...

I don't think that both can report the same debt for the same amount...

---

I asked a while back on here about OC and CA both reporting the same debt and was told yes they both could, just that two CA couldn't report the same debt.

Maybe I should've disputed as duplicates with CRA. Too late now, done sent out DV and PFDs.

[MsKmm00]

The reporting is correct.  DO NOT ignore RJM. Currently being sued by them now and account was due to be removed my credit report in November. They filed suit in October. Have them verify the debt and make sure they are licensed to collect in your state. I am working with an attorney now who advised me they are not licensed in my state. However, credit cards in my state fall under written contracts (15 years) versus open contracts (6 years) so the SOL doesn't work in my case. However, I have been disputing this debt for over 6 months because it is not mine (identity theft) which is why I obtained an attorney.  Anyway, make sure you respond and request verification from RJM because they will file suit.

Message Edited by MsKmm00 on 02-16-2008 10:00 AM

[Anonymous]

MsKmm00       What state are you in???

[MsKmm00]

ohio

[Anonymous]

My understanding is the OC can report as a Charged Off Account with ZERO balance, while the CA can report as Collection with a balance.

As far as I know the 7 year clock starts on date of first delinquincy, not DOLP, which I guess liberally could be defined as 90 days past DOLP.