Open date from original creditor vs open date from debt collector

[Newbie2018]

Hello, all I have question. So I attempted to pay off an old collections account with a settlement. The company showed up on my credit report as in collections and showed me the account info on who it was sold to. And the contact info. I decided not to validate the account because I knew it was my account. The only thing is now that I've settled the account I realize that the open date on credit karma shows 2015. Me not realizing what I was doing I said well since I'm paying down my debt and settling accounts this account was open 2015 I will go ahead settle it since its kind of new. After the fact that I had settled it and gotten confirmation receipt I called back a few days later just to ask more questions. The rep made a comment that made me think. He mentioned the account was charged off in 2011. I'm thinking wait what..credit carma says the account was opened 2015. So I got off the phone and called the original creditor and researched more into this. Me knowing that the statue of limitations is 7 years for Texas. I started counting. The date the original creditor said the account was opened July 2011. Doesn't show a day that the account was charged off but the date that it was sold to the creditor was April 2012 and she provided me with the info to them. I assume it was charged off sometime between those two dates. Going by what the "debt collector it was sold to" says it was charged off Sept 2011. Which would make it at the 90 day delinquent mark. If that's the case isn't it passed the statue of limitations? Silly of me to realize this after the fact that I have settled/payed but can't it still be dispute.? Any help would be greatly appreciated. Why would the debt collector it was sold to show an open date as 2015?

[RobertEG]

Debt collectors report the Open date for their collection as the date that they received their collection authority, either by way of assignment from the current owner, or by their purchase of the debt.  It is unrelated to the Open date of the account with the original creditor.

Additonally, the Open date for a collection is essentially meaningless for substantive reporting purposes, as it is not used in scoring of the collection.

[Newbie2018]

So should I not worry about this? My whole worry is when is it actually supposed to fall off? Which date counts as the start date of the 7 years? It's been in collections since 2011 I believe. I'm so confused.

[Miner]

The only date that matters is the date the debt first went bad which is used to remove all subsequent lates before the account was brought back into good standing if it ever was. If you get your free annual credit report from the big 3 credit agencies, it will list the date the negative information will be removed by on the original account. The related collection on your report must follow at the same time. Now if you make some payments later but then stop before it's paid off, they may try to treat it as a new account and the new lates may stay. I personally never pay a collection unless I pay it off, either settled for less or paid off in full. Keep an older copy of your credit report that shows the removal date in case you need to dispute the related collection for not falling off when it should. As a new one won't list the original account anymore if it was closed in bad standing and sold off before being bpaid as they will delete the entire account from your credit.

[Newbie2018]

The date it first went bad was the same month in which i opened the loan. I never made a payment and never got back to good standing. I checked my 3 reports fico last night from my experian subscription. 

[Newbie2018]

Also, i settled the debt on the 24th of this month. When i called today he said that it would be updating soon as they had just submited the info to the three credit bureaus. I then turned around and disputed today with experian when i realized that the this more than likely should have been removed from my report since 2011 is the date it first went bad. I just recieved an update two minutes ago reguarding my dispute from today. It reads that it has been updated and that it now shows settled for less than the full amount owed. So i guess when they noticed they recieved a dispute they didnt waste any time and responded to show that it was updated. I still worry that this account is passed the date that it should have been deleted. Maybe i am looking at this the wrong way.

[Newbie2018]

The account still shows as open and i have no idea why. I am unable to access the annual credit report beause i have open disputes. The only reason i knew what was on my annual to begin with is because the lady from the credit union showed me. I failed to look at the dates then. So with this being said, i dont know how to find another accurate report that will show me the date it is supposed to fall off.  So sorry for all the replies it isnt often that i get a reply in a timley manner so i want to get all my questions out lol. I wish that i could take a screen shot.

[Miner]

Things usually fall off 7 years after the date if first went bad.  So if it was opened in July of 2011, then it would have first become late in August which means it should drop off in August of 2018.  But that is dependent on whether they started reported it late immediately or not on your credit reports. That said, legally it can stay on for 7 years + 180 days, its just that the credit agencies usually drop it off early at the 7 year mark.   If you check any source for your credit report around then and see the original account droppping off or at least all the negative info dropping off, it should be a good indication the collection should also drop off and you can dispute it at that time if it hasn't.  I would definitely pull my report in September of 2018 and check if things fell off as they should.  If not start disputing it as being past 7 years.  No reason to get worked up about this until summer is over.

And just because they can no longer put anything on your credit report for a debt, doesn't stop companies from purchasing it and trying shady methods to collect it later as the debt is still valid, they just can't sue you or report it on your credit report anymore.  So don't fell bad about paying it.

I'm in a similar situation. I have 2 chargeoff accounts + 1 related collection (all paid in the last year) that will all off in Nov/Dec of 2018.   The collection account shows 2015 as the opening date, but that means nothing. My collection should fall off at the same time as the original account and if it doesn't, I'll dispute it.  But knowing the date really helps know the timing for starting a dispute if one is actually needed.