Date of first delinquency discrepancy

[RESSECUP]

I feel like im about to fight a losing battle, i had posted earlier about a couple of collection accounts showing on my CR as a tradeline.  However, it looks like they have the date of first delinquency as 8/2015, but the charged off account has 2014.  From everything i read a collection account has to follow the original creditor with the date of first delinquency.  I sent my dispute letter today, is there a possibility that this will be removed or will it just get updated.  Also, the OC charged off the accounts for much lower rates, however the collectors are trying to collect the full amount that i owed before the chargeoff, this is not their interest or fees its just what i owed the OC at the time of charge off from their fees. 

[Anonymous]

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@RESSECUP wrote:

I feel like im about to fight a losing battle, i had posted earlier about a couple of collection accounts showing on my CR as a tradeline.  However, it looks like they have the date of first delinquency as 8/2015, but the charged off account has 2014.  From everything i read a collection account has to follow the original creditor with the date of first delinquency.  I sent my dispute letter today, is there a possibility that this will be removed or will it just get updated.  Also, the OC charged off the accounts for much lower rates, however the collectors are trying to collect the full amount that i owed before the chargeoff, this is not their interest or fees its just what i owed the OC at the time of charge off from their fees. 

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I don't know much about DOFD, but the bolded part is normal. Most CA's try to collect the full amount, you can try to negotiate a deal but as far as I know there's nothing to prohibit them trying to collect the full amount of the debt they purchased.

[RESSECUP]

Thank you, my plan is to settle.  I just hate the fact they are on my credit report, im trying to find any loophole i can to get these off. 

[RobertEG]

The statutory definition of the process for obtaining and reporting what is referred to as DOFD is set forth in detail in FCRA 623(a)(5).

It is basically a three-step process for a debt collector.

Since the DOFD originated, by definition, with the creditor's account, the OC is the source of the DOFD.

To relieve debt collectors of necessity to contact the OC and obtain the DOFD, step one permits them, if the consumer's credit report includes any reporting of DOFD by the OC, to simply report that same date.  Reporting of a DOFD is only required by the OC if they reporting a charge-off to the CRA.

If the consumer's credit file does not include a prior reporting of DOFD by the OC, the debt collector must contact the OC and attempt to obtain the DOFD from them.

If the OC provides the debt collector with the DOFD, then the debt collector is in compliance if they report that same date to the CRA, with the provisio that, under no condition can the DOFD be later than the date the debt collector received their collection authority.  That is explictly stated in section 623(a)(5) as repetition of the definition in secion 605(c) that the DOFD  is the date of the first delinquency that preceded a reported collection or charge-off.

It is, by definition, an improper DOFD if it is later than the date of any reported CO by the OC, or the date the debt collector obtained their collection authority.  Period.

The final step covers situations where the debt collector attempted to obtain the DOFD from the OC, but was unsuccessful.

Under that catch-all provision, the FCRA permits the debt collector to then make their best estimate of teh DOFD, but again, under no circumstances can they report a DOFD that is later than the date they obtained their collection authority.

If you have disputed a reported DOFD that is later than the date a debt collector obtained their collection authority, or is later than the date the OC reported a charge-off of the debt that remained delinquent from first delinquency, there is a clear violation of FCRA 605(c) and 623(a)(5), and thus their verification would not be supported.

As a clear violation of the statute, you can file a formal complaint with the CFPB, which has authority over clear violations of the FCRA.

The debt collector will then be required to respond to the CFPB with their justification for reporting of a date that is not in compliance with the statute.

[Anonymous]

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@RESSECUP wrote:

I feel like im about to fight a losing battle, i had posted earlier about a couple of collection accounts showing on my CR as a tradeline.  However, it looks like they have the date of first delinquency as 8/2015, but the charged off account has 2014.  From everything i read a collection account has to follow the original creditor with the date of first delinquency.  I sent my dispute letter today, is there a possibility that this will be removed or will it just get updated.  Also, the OC charged off the accounts for much lower rates, however the collectors are trying to collect the full amount that i owed before the chargeoff, this is not their interest or fees its just what i owed the OC at the time of charge off from their fees. 

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First off - from where are you pulling your file and seeing the DoFD?

Second - What exactly do you mean by "charged off the accounts for much lower rates"? Can elaborate on what you mean?

[RESSECUP]

i pulled my credit report from equifax.com.  The OC charged off the account for $600 and the CA wants $802.  The $802 was the amount i owed the OC which was fees and interest.