Help Another Collection Question (Time it can report)

[RashShakur]

First I would like say thank you to everyone on this forum for your help and guidance. I need your help and expertise. I am trying to clear up my brother credit and I only have one thing left to clear up. He has a checking  account(wachovia) that went negative 4500 in 2005 and according to his credit report it went to collection in 2011.  Will it fall off when it went first delinquent  or is it calculated when it was sold to collection agency. The checking account never reported on his credit and now the collection is reporting. How do I get this off  his report or How long should I wait for I to fall off or what should I do?

[Jon85]

If it was charged off in 2005, it shouldn't even be reporting anymore. It goes by the original charge off date, not the date that the collection agency opened the account or started collecting. 

[Anonymous]

It depends on when in 2005 the DoFD was.  Technically, they can report for 7.5 years from the DoFD. 

If it was Nov 2005 they could report until May 2013.

[RobertEG]

There is a possible wrikle that could rear its ugly head.

A debt collector is required to report the DOFD on the OC account within 90 days of reporting of their collection.

If the OC never reported, they cannot rely on the DOFD reported by the OC, so they are required under FCRA 623(a)(5) to then contact the OC and make reasonable effort to get the DOFD from them.

If the OC gives them a DOFD, that is the date they must report.

However, if they make reasonable effort to get the DOFD from the OC, and are unable to do so, section 623(a)(5) permits them to make their best estimate of the DOFD.

The only statutory stipulation is that they cannot report a DOFD later than the date they received collection authority.

You could be forced to dispute their reported DOFD on the basis of your own account info.  Keep a close watch on what they report, as it might be acceptable reporting, but the incorrect actual DOFD.

[LIGHTNIN]

Hi RashShakur,

Can you copy and paste, what this CA is reporting?

Is the CA reporting to all 3CRA's?

[RashShakur]

Here is what it looks like on his report. It doesn't have dofd at all. I'm trying to call the bank  and get documentation as to when it was charged off and count 7.5 years from that date. It's reporting on all 3 CRA.

Credit AccountJeffersncp

Status as ofDate opened [?]Date of last activity [?]Largest past balance [?]Account Type [?]Account holder [?]Industry

Apr, 2013

Dec, 2011

Apr, 2007

$4,048

Open Account

Individual

Factoring Companies

Descriptions [?]

• Collection account

No contact information provided by Equifax

Balance [?] Current Status [?] Past Due Amount [?]

$4,048

120+ days past due

$4,048

Seven year payment history [?]30 days late60 days late90+ days late

0 times

0 times

0 times

Worst Delinquency [?]

[RashShakur]

RobertEG-TY.... I am trying to get  the documentation from the bank as to when it was actually charged off and then dispute the date with CA. Once I do that I can count 7.5 after that and get it removed. Does it matter if I dispute online or send the request through certified mail in your opinion? According  to the report  DOlA April 2007, I will confirm.

[Anonymous]

That TL really doesn't show what is needed.

Once you find out from the bank what the DoFD is, yes, send that to the CRA if it is beyond the 7.5 years.  I would send it CMRRR since you need to attach documents proving expired CRTP.

[RashShakur]

guiness56 -TY. I will do that. I am hoping that dofd is in 2005 so I can have it removed.

[RashShakur]

Here is clearer shot even thought it doesnt have DOFD

Status as of Apr, 2013
Date opened Dec, 2011
Date of last activity Apr, 2007
Largest past balance $4,048
Account Type Open Account
Account holder Individual
Industry Factoring Companies
Description

Collection account