DV or Contact CRA. Need advice

[ddrobinson98]

Background: One of my student loans accounts have clearly been reaged and I have proof, but Im not sure about who to contact first about this. Should I DV the collection agency or contact the CRA and ask them to delete because the account has been reaged. Any advice is greatly appreciated.  Also the OC is Education finance partners, which is currently out of business and the loan was transfer or bought by ACS now Transworld inc is trying to collect on it. The loan is still in SOL. Help please! Thank you

[Anonymous]

I would suggest filing a dispute with the CRA(s) send a dispute letter along with copies of your proof via certified mail. 

[RobertEG]

What exactly has been "reaged"? 

What is generally referred to as improper reaging is reporting of an inaccurate DOFD in order to extend the credit report exclusion date of their reported collection,

Are you referring to improper reporting of a new, and later, DOFD?  Do you have endicence that they knowingly reported inaccurately, or only that their reporting is not accurate?

In general, when you have issues of improper credit reporting, you should first dispute the accuracy of the reporting.

If you thereafter wish to bring civil action regarding their reporting, it would then be based on the adequacy of their investigation of your dispute, and not directly upon their having reported inaccurate information.

A DV request relates to validation of the debt itself, regardless of whether the information has been reported to a CRA.

You can send a DV, but it is not the procedure for addressing the accuracy of their credit reporting.

[ddrobinson98]

Old Account

Account Owner: Individual Account.  High Credit: $7,049   Type of Account  : Installment Credit Limit:   Term Duration: 240 Months  Terms Frequency: Monthly (due every month)  Date Opened: 06/01/2008   Balance: $0   Date Reported: 11/01/2009  Amount Past Due:   Date of Last Payment:   Actual Payment Amount:   Scheduled Payment Amount: $60   Date of Last Activity: N/A Date Major Delinquency First Reported:   Months Reviewed: 17  Creditor Classification:   Activity Designator: N/A  Charge Off Amount:   Deferred Payment Start Date:   Balloon Payment Amount:   Balloon Payment Date:   Date Closed:   Type of Loan: Education Loan 
10/12/2015 Equifax Personal Solutions: Credit Reports, Credit Scores, Protection Against Identity Theft and more
https://www.econsumer.equifax.com/otc/viewPopUpDetail.ehtml?prod_cd=ESNG3S&sub_cd=ACRO_XML&oi_num=1­... 27/28
Date of First Delinquency: 11/2008  Comments: Collection account  

New Account

TRANSWORLD SYSTEMS INC  Agency Address: 5626 Frantz Rd Dublin, OH 430171559 (877) 282­1250 Date Reported: 09/2015  Date Assigned: 03/2015  Creditor Classification: Educational  Creditor Name: GTAM STAB SLF 2A GT 2013  Account Number: 6383XXXX  Account Owner: Individual Account.  Original Amount Owned: $10,487  Date of 1 st Delinquency: 02/2015  Balance Date: 09/2015  Balance Owned: $10,757  Last Payment Date: N/A  Status Date: 09/2015  Status: D ­ Unpaid  Comments: N/A

Im not sure if the CA unknowly use this DOFD.  I called and they confirmed that they was collecting on this particular account. So im confused on what steps I should take to correct this because this new collection hurt my scores big time.

[RobertEG]

A debt collector must comply with the procedues set forth in FCRA 623(a)(5) when obtaining and reporting the DOFD.

The controlling procedure in your situation is the first step of the multi-step process described in section 623(a)(5).....  the situation where the creditor has previously reported the DOFD on their account to a CRA.  That reporting is the direct statement by the OC of the DOFD, and the debt collector is required to report that same date.

You should file a dispute, either directly with the debt collector or via the CRA, providing your assertion that FCRA 623(a)(5) mandates their reporting ot the DOFD that was previously provided by the OC.  Include a copy of your credit report evidencing the earlier reporting by the OC.

The debt collector must then either respond directly to you or back to the CRA, providing their verification or correction. Only the DOFD is at issue, so the outcome will not result in any requirment to delete the entire collection.  It will result in either their verification that it is accurate as reported, or correction to the date you assert as the accurate date.