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Santander/Deville CA TL randomly removed from my CR?

Vmc726
Regular Contributor

Santander/Deville CA TL randomly removed from my CR?

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hey all. Just checked my email and got an interesting alert from myFICO. It seems a collection was just removed out of the blue from my TU report on 10/15. Here are the DP's. 

EQ- 0 open collections 0 closed collections 

EX- 0 open collections 0 closed collections 

TU- As of yesterday 0 open collections 0 closed collections. Had 1.. it was with Deville Asset Management for $6,237. OC was Santander Consumer for an old auto loan. DOFD with Santander was January of 2016. Date collection was assigned was 1/29/18 last reported 9/4/20. I planned to let this one ride out because I can not afford to pay it off all at once and didn't want to wake it up from the sleeping state. Yes I know it has been holding my TU score down for a while and possibly can for another 5+ years. I lived in MO when I had the vehicle. Now a resident of IL. So I don't think this has anything to do with the Santander class action suits but I could be wrong. Personally, I have not inquired about those as I don't believe MO or IL are a part of it. 

I have not sent a GW letter to Santander or Deville Asset Management. I know better. It'll wake it up and it'll be a HARD NO. I was going to ride out this OC tradeline as well as the CA tradeline until 7 years hit each one. 

Anyone know why this happened? My theory is that maybe they are selling/have sold it to a new collection agency and in a matter of time a new fresh tradeline will show up as a new collection on my report(s). Again, Santander TL is still on all 3 of my CR's until 2023. Deville Asset Management TL only ever got added to my TU Report. My images don't show any personal info. Take a peek. Give me some thoughts. :-) I can only imagine it is too good to be true. 

 

 

 




myFICO 8 Scores 2/2021





Message 1 of 10
9 REPLIES 9
dragontears
Valued Contributor

Re: Santander/Deville CA TL randomly removed from my CR?

That typically happens when a CA sells the account to a different CA

Scores hover around 800
Haven't been AZEO in over a year
Rome was not built in a day, neither is a good credit profile
Message 2 of 10
Vmc726
Regular Contributor

Re: Santander/Deville CA TL randomly removed from my CR?


@dragontears wrote:

That typically happens when a CA sells the account to a different CA


In turn starting a new 7 year timeline? Sheesh. I suppose if it appears again I'll see if I can settle for some PFD. Smiley Sad




myFICO 8 Scores 2/2021





Message 3 of 10
dragontears
Valued Contributor

Re: Santander/Deville CA TL randomly removed from my CR?


@Vmc726 wrote:

@dragontears wrote:

That typically happens when a CA sells the account to a different CA


In turn starting a new 7 year timeline? Sheesh. I suppose if it appears again I'll see if I can settle for some PFD. Smiley Sad


NO 

Selling the account does NOT change the DOFD which is what the 7 year exclusion time frame is based on 

Scores hover around 800
Haven't been AZEO in over a year
Rome was not built in a day, neither is a good credit profile
Message 4 of 10
blindambition
Community Leader
Senior Contributor

Re: Santander/Deville CA TL randomly removed from my CR?


@dragontears wrote:

@Vmc726 wrote:

@dragontears wrote:

That typically happens when a CA sells the account to a different CA


In turn starting a new 7 year timeline? Sheesh. I suppose if it appears again I'll see if I can settle for some PFD. Smiley Sad


NO 

Selling the account does NOT change the DOFD which is what the 7 year exclusion time frame is based on 


It's also possible OP is in a state that sued Santander for unethical practices. Might be removal from settlement.

Message 5 of 10
RobertEG
Legendary Contributor

Re: Santander/Deville CA TL randomly removed from my CR?

When a debt collector who had active collection authority has that authority terminated and the debt remains unpaid, then CRA reporting policy, as set forth in their common credit reporting manual, the Credit Reporting Resource Guide, requires the debt collector to then delete any reported collection.  That CRA policy is in recognition that, as long as the debt remains unpaid, a new debt collector can then obtain collection authority and report to the CRAs, which would result in multiple reported collections on the same debt.  

 

It is the termination of collection authority that triggers the deletion requirement, which is not limited to sale of the debt by the debt collector.  Many, if not most, debt collectors have collection authority based on an assignment from the owner, which is usually the original creditor.   Either the creditor or the debt collector could choose to terminate that assignment at any time, leaving the creditor free to reassign to another debt collector or to sell the debt.

 

In the posted scenarion, the creditor apparently has ownership, and the debt collector only had assigned collection authority.  If the debt collector then reports deletion of their collection, that indicates that their assignment of collection authority was likely terminated, which mandated deletion of their reported collection.

 

If a new debt collector obtains collection authority, either by purchase of the debt or by assigned collection authority, they can immediately report their own collection.  However, the exclusion period/date for the new collection is not reset, and is based only on the same DOFD that applied to the first collection.  FCRA 605(c).

Message 6 of 10
Vmc726
Regular Contributor

Re: Santander/Deville CA TL randomly removed from my CR?


@dragontears wrote:

@Vmc726 wrote:

@dragontears wrote:

That typically happens when a CA sells the account to a different CA


In turn starting a new 7 year timeline? Sheesh. I suppose if it appears again I'll see if I can settle for some PFD. Smiley Sad


NO 

Selling the account does NOT change the DOFD which is what the 7 year exclusion time frame is based on 


Sorry I'm not fully educated on the credit reporting. Getting there. The OC Santander has a DOFD as 1/2016. So around about 1/2023 is the 7 year mark. Does that mean the OC tradeline AND any CA tradeline associated with the original creditor DOFD has to be removed? So if a new CA is in fact opening for this debt. It has an estimated timeline of 2 years and 3 months left to report on my CR's?




myFICO 8 Scores 2/2021





Message 7 of 10
Vmc726
Regular Contributor

Re: Santander/Deville CA TL randomly removed from my CR?


@RobertEG wrote:

When a debt collector who had active collection authority has that authority terminated and the debt remains unpaid, then CRA reporting policy, as set forth in their common credit reporting manual, the Credit Reporting Resource Guide, requires the debt collector to then delete any reported collection.  That CRA policy is in recognition that, as long as the debt remains unpaid, a new debt collector can then obtain collection authority and report to the CRAs, which would result in multiple reported collections on the same debt.  

 

It is the termination of collection authority that triggers the deletion requirement, which is not limited to sale of the debt by the debt collector.  Many, if not most, debt collectors have collection authority based on an assignment from the owner, which is usually the original creditor.   Either the creditor or the debt collector could choose to terminate that assignment at any time, leaving the creditor free to reassign to another debt collector or to sell the debt.

 

In the posted scenarion, the creditor apparently has ownership, and the debt collector only had assigned collection authority.  If the debt collector then reports deletion of their collection, that indicates that their assignment of collection authority was likely terminated, which mandated deletion of their reported collection.

 

If a new debt collector obtains collection authority, either by purchase of the debt or by assigned collection authority, they can immediately report their own collection.  However, the exclusion period/date for the new collection is not reset, and is based only on the same DOFD that applied to the first collection.  FCRA 605(c).


That answered it. Thank you. 




myFICO 8 Scores 2/2021





Message 8 of 10
Vmc726
Regular Contributor

Re: Santander/Deville CA TL randomly removed from my CR?


@blindambition wrote:

@dragontears wrote:

@Vmc726 wrote:

@dragontears wrote:

That typically happens when a CA sells the account to a different CA


In turn starting a new 7 year timeline? Sheesh. I suppose if it appears again I'll see if I can settle for some PFD. Smiley Sad


NO 

Selling the account does NOT change the DOFD which is what the 7 year exclusion time frame is based on 


It's also possible OP is in a state that sued Santander for unethical practices. Might be removal from settlement.


I will have to look into the states that this covers. It was purchased in IL but I was a MO resident. Now an IL resident. I could only wish to be so lucky. I wish I had the funds to just take care of it the proper way. Life wasn't as good back then. 




myFICO 8 Scores 2/2021





Message 9 of 10
blindambition
Community Leader
Senior Contributor

Re: Santander/Deville CA TL randomly removed from my CR?


@Vmc726 wrote:

@blindambition wrote:

@dragontears wrote:

@Vmc726 wrote:

@dragontears wrote:

That typically happens when a CA sells the account to a different CA


In turn starting a new 7 year timeline? Sheesh. I suppose if it appears again I'll see if I can settle for some PFD. Smiley Sad


NO 

Selling the account does NOT change the DOFD which is what the 7 year exclusion time frame is based on 


It's also possible OP is in a state that sued Santander for unethical practices. Might be removal from settlement.


I will have to look into the states that this covers. It was purchased in IL but I was a MO resident. Now an IL resident. I could only wish to be so lucky. I wish I had the funds to just take care of it the proper way. Life wasn't as good back then. 


here is a thread about the Santander Class Action. I believe 3rd post includes article on suit.

Santander Class Action 

Message 10 of 10
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