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Denied for a credit card due to: Re-aged collection accounts, scheduled to be removed in 11 months

gdale6
Moderator

Re: Denied for a credit card due to: Re-aged collection accounts, scheduled to be removed in 11 mont


@boelshine wrote:

@OmarGB9 wrote:


They're not re-aged. Chase is just seeing what they want to see. They're using the last updated dates from 2-3 years ago as their basis. It's really just an excuse, but anyway it has nothing to do with Experian and the way it's reporting. As long as the fall off dates are still showing 2022, everything is fine and Chase is just giving you a reason because they're required to by law, whether the reason makes sense or not.

 

Thank you for clarifying that this is not considered re-ageing. Would it be correct to say that an account is only considered "Re-aged" if the CRA continues to report it after the 7.5 year clock has run, or if the FCRA compliance date is updated to after the initial DOFD?

 

My concern is that the DOFD(s) / FCRA compliance date(s) are not listed in my report, nor does my report accurately show the number of months the account(s) have been in default. Only by ordering my consumer report was I able to determine when the negative information was scheduled to drop off. Shouldn't my report indicate as to when the account(s) went into default?

 

Does Experian not list the DOFD in their credit reports, because lenders want to base their decision on the Last Updated date, rather than the (more relevant) DOFD? In other words, as @tnhomestead and you alluded to, Experian is not including the DOFD/FCRA compliance date in my report as a way of making my account seem younger than it acually is, or maximizing pressure on me to pay, until it drops off?


The DoFD is required to be reported to the CRAs its there they just dont show it online, you need hard copies to see it. Most banks will que off the last date of update to calculate time since derog, its the way it is unfortunately.

Message 11 of 12
tnhomestead
Frequent Contributor

Re: Denied for a credit card due to: Re-aged collection accounts, scheduled to be removed in 11 mont

You keep talking about reaging an account and that's not what this is. Re aging an account would be if the dofd was 7-2015 and should come off your reports 7-22. If the creditor went back and changed the dofd to 7-20 so it would stay on your report until 7-27, that's re aging and illegal. However it is totally legal for them to report your balance owed monthly for the whole 7 years. If you pull your reports from annual credit report dot com, I bet you will see where they are reporting your balance due either monthly or they may have stopped at some point in the past. If you look at that report, you will find your date of final delinquency as well. It will be on record until deal, and have 1 or 2 months built in of early exclusion.

 

Message 12 of 12
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