Reporting lates every month

[SFernandez13461]

Most of my OCs reported the initial 30-, 60-, 90-, and finally the 120-day late for between one and three months, but one OC has reported the 120-day late every month since January 2008. I'm just wondering whether or not that's a violation, and if so, how I can dispute it (after the SOL runs its course).

All of the accounts are COs with a DOFD in approximately 10/07 reporting a zero balance if that helps.

Any information would be appreciated. Thanks for your time. 

[guiness56]

Is the debt paid?

If it isn't, then yes, it is legal.  Did they never CO the account?

[SFernandez13461]

It's an unpaid CO.

[guiness56]

Until it is paid they can report late each month.

[SFernandez13461]

Ouch. Even at this point, these lates won't fall off until 2018.  

Thanks for responding.

[guiness56]

The entire TL will fall off between 2014 -2015.

[SFernandez13461]

That was my understanding initially, and then I read that each derog has its own 7-year lifespan. Seems like I'm always finding out I have more to learn. I'll read up on the subject again.

Thanks for clearing that up.

[guiness56]

If each late could fall off before the DoFD, then it would stay.

But the reporting time for the TL will be up several years before the last late falls off.  The TL can't stay longer that the 7.5 years from the DoFD per the FCRA.