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A question about DOLA Changes

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Frequent Contributor

Re: A question about DOLA Changes



RobertEG wrote:
Any legal action they might choose to take has nothing to do with your CR, or what is in the files at the CRAs. 
They can file suit at any time, and merely have to show that the debt was legitimate in order to file suit.  If it was in fact a legitimate debt, they will probably be granted judgment by the court unless you can establish in defense of the suit  that the SOL for bringing the suit has expired. 
Your concerns do not appear to be credit reporting related.  Debt collection is not bottom feeding scum if the debt was legitimate.   Your choice is either to pay and make it go away, or face the prospect of future legal action.

The question is absolutely about reporting, as the CA is reporting different DOLA & seems to be changing them ~ this is against the law.
 
Robert, I'd read a few of your posts today and some of them were either rude, antagonistic or just plain out of line.  When we want to be spoken to in that way, we call collection agencies.  We don't come here for that, we come here to help & support one another. 
I'm here because I decided to stop hiding from my FICOS, CAs and OCs ~ and man, do I feel freer!

"We can forgive a child who is afraid of the dark; the real tragedy of life is when men are afraid of the light." ~Plato
Message 11 of 23
Frequent Contributor

Re: A question about DOLA Changes


@RobertEG wrote:
Any legal action they might choose to take has nothing to do with your CR, or what is in the files at the CRAs. 
They can file suit at any time, and merely have to show that the debt was legitimate in order to file suit.  If it was in fact a legitimate debt, they will probably be granted judgment by the court unless you can establish in defense of the suit  that the SOL for bringing the suit has expired. 




Thank you, that was informative. Seriously, I truly appreciate this part of your post.


@RobertEG wrote:
Your concerns do not appear to be credit reporting related.  Debt collection is not bottom feeding scum if the debt was legitimate.   Your choice is either to pay and make it go away, or face the prospect of future legal action.
 





Discrepancies between 3 different credit reports is not Credit reporting related? Whew! I got nothing to worry about then!

I never said debt collection was bottom feeding scum, however I did say collection agencies are. Don't like it? Deal with it.

Ill take my chances, I have faced worse in the court room, thanks for the tough talk, tough guy.
Message 12 of 23
Member

Re: A question about DOLA Changes

(5) Duty to Provide Notice of Delinquency of Accounts

(A) In general. A person who furnishes information to a consumer reporting

agency regarding a delinquent account being placed for collection, charged

to profit or loss, or subjected to any similar action shall, not later than 90

days after furnishing the information, notify the agency of the date of

delinquency on the account, which shall be the month and year of the

commencement of the delinquency on the account that immediately

preceded the action.

(B) Rule of construction. For purposes of this paragraph only, and provided

that the consumer does not dispute the information, a person that furnishes

information on a delinquent account that is placed for collection, charged

for profit or loss, or subjected to any similar action, complies with this

paragraph, if--

(i) the person reports the same date of delinquency as that provided by the

creditor to which the account was owed at the time at which the

commencement of the delinquency occurred, if the creditor previously

reported that date of delinquency to a consumer reporting agency;

(ii) the creditor did not previously report the date of delinquency to a

consumer reporting agency, and the person establishes and follows

reasonable procedures to obtain the date of delinquency from the

creditor or another reliable source and reports that date to a consumer

reporting agency as the date of delinquency; or

July 30, 2004 70

(iii) the creditor did not previously report the date of delinquency to a

consumer reporting agency and the date of delinquency cannot be

reasonably obtained as provided in clause (ii), the person establishes

and follows reasonable procedures to ensure the date reported as the

date of delinquency precedes the date on which the account is placed

for collection, charged to profit or loss, or subjected to any similar

action, and reports such date to the credit reporting agency.

 

Try to get the Date of First Deliquency from the OC, then dispute this.  It is illegal to re-age accounts, as it interferes with the CRA's ability to determine when the account is to fall off the report. 

Asset Acceptance IS scum, they are junk debt buyers, I''m betting they don't even have the proper paperwork and can't verify this anyhow.  They did the same to me one time, they claimed I owed for a Bally's membership that was canceled appropriately years ago.  (I know Bally's had some sort of financial trouble not long after my canceled membership)  Anyway, they tried to say I owed over 1,000 and then I disputed it, it came off, then they tried to report the following year to another CRA, and that time the amount increased to over 3,000!  I again, disputed, and it was deleted.  Haven't seen them since.......good luck.........

 

anyone else...what should going2tdc do first, second, etc.....

 

 

MY Scores: EX: 546, TU: 560, EQ: 587
GOAL: To NEVER have to play this stupid credit (rat in a maze) game againnnnn!!!!! : P

Message 13 of 23
Highlighted
Member

Re: A question about DOLA Changes

Robert's responses I've also seen, and he's responded to one of my ?'s also.....they seem to be what a Debt Collector would say......LOL! Smiley TongueSmiley Wink
MY Scores: EX: 546, TU: 560, EQ: 587
GOAL: To NEVER have to play this stupid credit (rat in a maze) game againnnnn!!!!! : P

Message 14 of 23
Frequent Contributor

Re: A question about DOLA Changes



Lullaby wrote:
Robert's responses I've also seen, and he's responded to one of my ?'s also.....they seem to be what a Debt Collector would say......LOL! Smiley TongueSmiley Wink


I said EXACTLY the same thing!  I wonder whether he works for a CA, JDB or CRA
I'm here because I decided to stop hiding from my FICOS, CAs and OCs ~ and man, do I feel freer!

"We can forgive a child who is afraid of the dark; the real tragedy of life is when men are afraid of the light." ~Plato
Message 15 of 23
Legendary Contributor

Re: A question about DOLA Changes

Going, the OC IS reporting DOFD to the CRAs.  Unfortunately, the FCRA does not mandate that credit reports include this date in their reports, and the CRAs dont normally show this in the commercial CRs that they vend, for whatever reason.  But it is in your credit file.  The CRAs are enamored with reporting a DOLA, but unfortunately, a DOLA has nothing to do at all with FCRA compliance in determining when a derog drops off.
The CAs only report DOLA activity on a collection to confuse you, and lead you to believe that it somehow resets the FCRA dropoff date.  It does not.  Ignore it.
I would suggest filing a dispute with the CRA if you suspect that an account is still posting derogs after expiration of the FCRA periods from the DOFD.  That will force them to provide their file data on what date is being recorded and used.
Message 16 of 23
Contributor

Re: A question about DOLA Changes



WhatzUrPlan wrote:


RobertEG wrote:
Any legal action they might choose to take has nothing to do with your CR, or what is in the files at the CRAs. 
They can file suit at any time, and merely have to show that the debt was legitimate in order to file suit.  If it was in fact a legitimate debt, they will probably be granted judgment by the court unless you can establish in defense of the suit  that the SOL for bringing the suit has expired. 
Your concerns do not appear to be credit reporting related.  Debt collection is not bottom feeding scum if the debt was legitimate.   Your choice is either to pay and make it go away, or face the prospect of future legal action.

The question is absolutely about reporting, as the CA is reporting different DOLA & seems to be changing them ~ this is against the law.
 
Robert, I'd read a few of your posts today and some of them were either rude, antagonistic or just plain out of line.  When we want to be spoken to in that way, we call collection agencies.  We don't come here for that, we come here to help & support one another. 


Wow!!! Once again, I have learned something new from reading here.  I always "assumed" I should not worry about DOLA discrepancy dates between CRs.  In fact, I have read somewhere on here, "don't worry about DOLA", which didn't make sense to me.  Especially when the CRBs put DOLA on the CRs!!!  I always thought something fishy was going on, because the CAs should be reporting the same info to the CRBs, with no difference in reporting info.  I can't understand why all this inaccurate reporting is allowed, even when disputed it is extremely difficult to get these matters resolved.
 
Between the three credit reporting bureaus my daughters amount of debt ranges from $63,000+ to $33,000+ with the latter amount being accurate!!!  This whole credit thing is absurb!
__________________________________________________________
"Many people who order their lives rightly in all other ways are kept in poverty by their lack of gratitude." Wallace Wattles
Message 17 of 23
Senior Contributor

Re: A question about DOLA Changes



@RobertEG wrote:
Any legal action they might choose to take has nothing to do with your CR, or what is in the files at the CRAs. 
They can file suit at any time, and merely have to show that the debt was legitimate in order to file suit.  If it was in fact a legitimate debt, they will probably be granted judgment by the court unless you can establish in defense of the suit  that the SOL for bringing the suit has expired. 
>Your concerns do not appear to be credit reporting related.  Debt collection is not bottom feeding scum if the debt was legitimate.   Your choice is either to pay and make it go away, or face the prospect of future legal action.
 





I'd disagree. I think it can be both: concerns about the possibility of a suit AND concerns about the reporting.

Obviously the OP has issues with both as I'm sure s/he neither wants to be sued (and wants to make sure s/he is out of SoL) AND that s/he wants to know WHEN the neg TL should fall off. Reaging, true "bottom-feeders" or not, is fairly prevalent as I'm sure most of the threads in this forum would attest. Smiley Wink

And most people here are trying to rebuild their credit, so I'm sure that the OP is VERY concerned with the reporting -- and whether it's accurate. With three different DOLAs, I'd have to assume that at least TWO of them aren't accurate. Wouldn't you????

But in the end, I don't think the poster needs to justify WHY s/he's asking the question ... nor does it seem to be necessary for YOU to judge whether or not the question is indeed "credit-reporting related."

I'm sure, if the question wasn't "credit-reporting related" it would have been moved by a Mod already. Don't you think?

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*

Hubby's FICOs when we started: high 400s (June 2008)
Hubby's FICO NOW (04/06/09): TU: 679 EQ: 608 EX: ???
My FICOs: TU: 643, EQ: 606
Closed on new home: 1/20/2009 -- If we can do it, YOU can do it!!

Message 18 of 23
Legendary Contributor

Re: A question about DOLA Changes

I apologize if my comments have in any way been interpreted as offensive or argumentative, for that was never my intent. 
I was simply trying to point out that if subsequent DOLA updates by a CA to a CRA are affecting the FCRA dropoff dates, this is clearly illegal, and neither the CRAs nor the FICO algorithm should be using such dates to determine FCRA compliance.  That is controlled only by the DOFD, and the CA cant change that date.
Again, sorry for any offense taken.
 
 
Message 19 of 23
Member

Re: A question about DOLA Changes

I think I see what Robert is trying to say as far as DOLA goes....which was what in your OP you had asked about.  True, the FCRA doesn't reference to a "DOLA" but it does reference to DOD....make sure the DOFD, if the CA is reporting a deliquency, they are required to furnish the DOFD to the CRA, the CRA does not have to show that on the report, I don't think, which stinks because that is what makes the debts look so new and lower your score so much.
 
If the OC is reporting also, see if the dates match up.  If no OC reporting, try to find out the drop off date from the CRA.  Even if the OC is reporting the DOFD, if you have both the OC reporting and a CA reporting the same account, the drop off date is only going to be correct for the OC and not for the CA if they are not matching up the DOFD when they report to the CRA.  They are complying only if:
 

(i) the person reports the same date of delinquency as that provided by the

creditor to which the account was owed at the time at which the

commencement of the delinquency occurred, if the creditor previously

reported that date of delinquency to a consumer reporting agency;

(ii) the creditor did not previously report the date of delinquency to a

consumer reporting agency, and the person establishes and follows

reasonable procedures to obtain the date of delinquency from the

creditor or another reliable source and reports that date to a consumer

reporting agency as the date of delinquency; or

July 30, 2004 70

(iii) the creditor did not previously report the date of delinquency to a

consumer reporting agency and the date of delinquency cannot be

reasonably obtained as provided in clause (ii), the person establishes

and follows reasonable procedures to ensure the date reported as the

date of delinquency precedes the date on which the account is placed

for collection, charged to profit or loss, or subjected to any similar

action, and reports such date to the credit reporting agency.

According to the FCRA...........correct??  Someone correct me if I'm not reading the regulations clearly..........

Thanks!

MY Scores: EX: 546, TU: 560, EQ: 587
GOAL: To NEVER have to play this stupid credit (rat in a maze) game againnnnn!!!!! : P

Message 20 of 23
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