Collection Agency Using Date they Purchased Account as Date Account Opened

[Anonymous]

I have a collection from RJM Acquisitions listed on my EX and TU reports. It shows that the account was opened 5/08. The original creditor is Doubleday Book Club. The account was opened on 11/04 and was delinquent on 4/06. Is the CA allowed to report the date they purchased the account as the date the account opened? This is making an old debt newer. Seems like re-aging to me. Maybe I'm wrong, I don't know.

BTW: RJM sent me a notice of dispute  (I disputed the accuracy of the item with EX) which showed that they purchased the account in 08, and that it was opened in 04. This is one of two negs on my report  (the other is a paid judgment from a car accident, not an unpaid account). It is only $85, and I will pay it. I just feel that it should be reflected accurately on my CR.

[Anonymous]

The date opened is the date the CA received the account in their office and has no bearing on when an account will drop off.

It is the date reported that will cause a drop in score.  Even if it was delinquent in 06 and they did not report it until 08 it is legal.  Also, if the account was laying dormant on your CR for the past 4 years and you disputed it, it updated it to the current date making it look like a newer collection.  That is also legal.  It is also one of the major reasons disputing is not recommended.

[Anonymous]

No, it hasn't been laying dormant. They update it EVERY MONTH. So disputing it did nothing to change anything. Thanks!

[Anonymous]

I wasn't suggesting it had been laying dormant.  I was just giving an example of how things work.

And unfortunately, they can update each month.  Each month the current date is used making it look like a new collection.

[Anonymous]

Wow, I did not know that.  That is a load of crap that they can update every month and make it look like a new collection.  Those scumbags have WAY too much power to screw peoples lives over.

[Anonymous]

Are you sure it's not the 'Date Opened' field that counts against you?

[Anonymous]

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@Anonymous wrote:

Wow, I did not know that.  That is a load of crap that they can update every month and make it look like a new collection.  Those scumbags have WAY too much power to screw peoples lives over.

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They truly do. Check out these articles from the Mpls. Star-Tribune:

http://www.startribune.com/investigators/95692619.html?elr=KArksi8D3PE7_8yc+D3aiUo8D3PE7_eyc+D3aiUiD3aPc:_Yyc:aULPQL7PQLanchO7DiUr

http://www.startribune.com/investigators/97231649.html?elr=KArksCiU6:5DiaPQEacyiUiacyKUnciaec8O7EyUs

It is truly important that people know their rights. This is the place I come to find and share knowledge. Knowledge is power!

[Anonymous]

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@Anonymous wrote:

Are you sure it's not the 'Date Opened' field that counts against you?

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No, the date a CA opens an account means nothing and has no impact on your FICO score.  It is the date reported (or status date) that can harm you. 

[Anonymous]

They are reporting the date that they purchased the account as the date opened. That's my point. It looks like the account is two years old when really it's six years old. And apparently that is legal. Just because it's legal, doesn't mean that it is ethical. Unfortunately, there are plenty of people out there that could care less. They figure, you owe it - pay it. In my case, this charge is from a book order that was sent to me which I refused. I didn't want the monthly selection and it was returned to Doubleday unopend as per their return policy. They chose to bill me for it anyways, and when I refused to pay it they added on about $65 for the remainder of my purchase agreement which required that I purchase so many books in such and so amount of time. They also didn't count the refused book that they were billing me for as one of those agreed upon purchases. I got screwed royally and rightfully (at least, in my mind) refused to pay. Eventually they wrote off the debt and sold it. So whatever - here we are. It is scheduled to come off my report next year anyways. I may pay it, but I may not.

[Anonymous]

Wow, that is an outrage.   That should be illegal.  I have one that is updating every month on TU and they adamantly refuse PFD.    Seriously this makes me furious.    I guess I'm going to have to try and bait them into an FDCPA violation.