Reports ??????

[Anonymous]

Hi,

I was hoping if someone can help me with this question on my report please.

I have a collection acount that it going to fall off in Agust 2016.  

The collection saying that the bought the acount from the Original creditor anyway my question is :  When this collection falls off my credit report this year are they allowed to sell the acount to another collection and the new collection start reporting to my credit report about the same acount that already reported for 7 years by the first collectionis  ?

My other question :  Can the same collection allowed to report twice on the same acount after it falls off the report the first time or they are allowed just one time reporting ?

[RobertEG]

The exclusion of any reported collection is required to be done by the CRA no later than 7 years plus 180 days from the DOFD on the OC account.

The DOFD is not reset based on any action of the debt collector.  It is a date-certain based only on the first deliquency on the OC account.

No, the reporting of a collection, regardless of whether a first or later debt collector, cannot be extended based on any action of the debt colelctor.

Once more than 7 years plus 180 days has expired from the reported DOFD, then no collection on that debt can be included in your credit report.

[Anonymous]

Thanks for the reply.

I just want to be clear on what you said.   Are you saying if another collection buy the acount from another collection they can't report it to the credit report because the first collection has already reported that acount for 7 years and fall off ?

Thanks so much

[Revelate]

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@Anonymous wrote:

Thanks for the reply.

I just want to be clear on what you said.   Are you saying if another collection buy the acount from another collection they can't report it to the credit report because the first collection has already reported that acount for 7 years and fall off ?

Thanks so much

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Actually it's up to 7.5 years (though the bureaus seem to be at 7 years now, EX for certain, TU from the looks of it, and EQ says 7 years in one blog posting and 7.5 in another) from the DOFD, which is typically several months or before the account was closed and sent to collections.

You're marking time from when you first missed a payment leading up to that event.  To illustrate from a personal example:

5/2009 OK, 6/2009 Late, 7/2009, 30+, 8/2009, 60+, etc up to some time period and the account was placed out for collection 8/2010.  The actual DOFD is that 6/2009 date when I first went late and then never caught up on the billing... it is not the date the collection is placed; however, the bureaus by default as I understand it if the DOFD is not furnished by the CA, will simply mark the DOFD as the collection date.  This is an easy dispute if the DOFD is wrong and already passed the obsolete date..

Any future JDB or similar which tries to tack on a collection after call it 1/2017 can't as RobertEG stated more eloquently than I ever could.

[Anonymous]

Ok, thank you so much that makes little happy, because I was worried that when this collection falls off after the 7 years I thought another collection will buy the account and srart reporting again for another 7 years on my report.

Thank you so much

[Anonymous]

Hi again,

Do you know how long it takes for TU  to send you a new a credit report ?  I talked to them on Monday 3/14 and they said they will delete account on my report and they will send me a new report, but I still have yet to receive anything from them and I really don't want to pay for a new report to see if they deleted the account.

Is still to early to get the new report from them since I just talked to them on 3/4 ?

Thanks