Victim of re-aging??

[Anonymous]

Hey!

Was hoping someone could help me out. I had an account that showed up on my credit report from the original creditor and a collection agency. The original creditor had a Date of last payment as March 6, 2012. This account had dropped off but the collection remains. The collection account says the date of last payment is October, 2012. I have not payed or spoken to either of these companies. Has this debt been reaged by the collection agency? The statue of limitations(6 years) is up according to the original creditor and the date of reporting here in Nova Scotia is no longer than 6 years aswell.

[RobertEG]

The term "re-aging" has no precise definition under the FCRA or the FDCPA, and is generally used to refer to the updated reporting of a later date of first delinquency (DOFD), which then extends the exclusion date of a collection or a charge-off.

The exclusion date of a collection is determined only by the DOFD, and is the same regardless of whether any payments were made or reported.

What is the reported date of first delinquency that was reported by the debt collector?

As an aside, if they reported a payment that you did not make, you can certainly dispute the accuracy of that reporting.

The relevance of a date of last payment is that payments can, under most state SOLs, reset the running of the SOL.

Thus, they may have reported a payment as later basis for supporting an assertion that the SOL has been reset.

I would recommend disputing the accuracy of that reporting, and getting the matter clarified now.

However, it does not re-age the exclusion date of the reported collection.

[Anonymous]

The original creditors entry on my report has fallen of exactly 6 years from the date of last payment. However, the collection remains and has a last date of payment as October 2012. I made no payments or contact with this agency. Shouldn't the collection have fallen off the same time as the original?

[RobertEG]

Collections can be removed for reasons other than exclusion by a CRA.

The debt collector could also have reported a deletion, which is not credit report exclusion.

Credit report exclusion of a collection is no later than 7 years plus 180 days from the DOFD.

The DOFD, and the DOFD alone, controls credit report exclusion of a collection.

Removal of an OC account at 6 years from intitial delinquency would almost certainly be due to the creditor having reported its deletion to the CRA, and not due to credit report exclusion by the CRA.  The earliest exclusion of a delinquent account would occur at approx 7 years from the DOFD.

[Anonymous]

Here in Canada, negative information stays on your report for no longer than 6 years and also the SOL is 6 years. What I was saying is that this debt is past the 6 years according to the OC's date of first delinquency. The collection agency has a date that is 8 months longer than the original creditor.