PLEASE HELP OLD 2006 CHARGE OFF SHOWING NEW LATES

[terrymurph]

I had an account with 1st Financial Bank Usa SD. This credit card charged off in 2006 and has not had any activity since 2005. On my equifax credit report it was reporting as a charged off/bad debt account for $1972.00 with 0 late payments. It has been this way for almost 4 yrs. Now as of may of 2009 this account was showing the same as before but with 31 newly showing late payments. This dropped my score a total of 41 points when it showed. The account went from inactive to active and its also showing an OK STATUS for the month of June as if a payment was received. I am truly confused I have made no payments to them nor have I made any arrangements to. I disputed this account with equifax for being inaccurate but they verified and made no change to it. So I'm wondering isn't this against the FCRA OR FACTA somebody please let me know something. I have contacted an attorney and am thinking of taking legal action is this possible if the violated the FCRA.

[nothingman02]

Nothing wrong. An OC can continue to report every month. Even after a CO. Its showing ok for the last month because its been now paid. Not by you but by somebody else. And you are going to hear from them soon as they will start collecting from you. Typically Asset Acceptance and similar companies get a shot with these 'first refusal' accounts. They should have dunned you already. Make sure your adresses with the OC and the CRA are consistent and the same. Call the OC and find out the status of the account and get the CA contact information.You would want to contact the new CA and DV them ASAP so they dont get a chance to report (atleast until they validate).

[terrymurph]

I called them today and had a long conversation with the supervisor in the recovery dept. She assured me that they never sell their debts, they stay within their company. All this after trying to get me to pay of course. When i talked to her she was not willing to help, but when i threatened to take legal action suing them for deformation of character, and financial loss she asked had i tried to dispute directly with the credit bureau themselves. So i told her i don't want to dispute it with them i want the account removed because they were in violation of the FCRA. After i got off the phone with her i called an attorney and he told me sometimes companies do this to try to get the statute of limitations to start over so they can take legal action against me. And this is illegal. I have several years of credit reports since 2006 with the account as an unpaid co with 0 late payments. So have i misinterpreted the FCRA and other laws covering the consumer. She wasn't even able to tell me about the OK status that was showing now. This is an odd situation. Im pretty sure this information is showing as inaccurate. Am i wrong? Sorry if this is a bother.