After reviewing my credit reports numerous times I noticed something odd. I have a CA with Asset Acceptance and the OC is Citibank. However, the OC's tradeline (Citibank) is no longer appearing on any three of my credit reports. Asset Acceptance is, of course, showing on all 3 reports. They are constantly changing the original balance of the account, as well as the past due. Now, I know interest can accrue but it makes no sense for the original balance to keep increasing then decreasing. I thought that a CA could not report a tradeline longer than the OC. Am I correct? Also, what should I do about this? Their way of reporting on my reports is quite odd. For one, the DOFD listed is 07/2008 - I know that isn't right because this is the first CC I got when I went to college in 2005 and I stopped paying in 2006 when I was in between jobs. Unfortunately, I have nothing to compare it to since the OC's tradeline is gone and I never started paying attention to my credit report until now, so I have no other copies printed out. In addition, their payment history on my Equifax report shows a * in every month since March 2010 (* = pays or paid as agreed) but then shows CA in Feb 2013. My other CO tradelines show stars and then 30, 60, 90, 120 and then CO. Is it possible that I am a victim or re-aging and if so, should I send a letter to Asset Acceptance?
You may want to take a bit of a hardline approach with the CRAs. You may want to dispute the info from the CA and demand documentation of every date and payment or ask for them to delete them. If the CA is putting up a bunch of bogus info about when and how much you owe then you have every right to demand that the CRAs verfify ever single detail and delete if the details cannot be verified. That being said, it is unfortunate that you have no paper record on hand to prove your side of the story. Idk how much you owe or if you are in a financial situation to PIF but I would try to pay off what you owe and put this behind you as quickly as possible. If you are close to the SOL in your state or the 7 1/2 years for CRA reporting, you may want to consider just letting it go unpaid. This CA has already proven that you may be at risk for reaging if you pay and it may be a risk that you don't want to take when you sift through all the information available to you. Good luck. You are going to have to decide for yourself what to do.
Contact citi to find out the DofD but if if its not paid it does not go away and will stay in credit file as unpaid
She can contact the CRA to find out the DoFD, and she is stating a TL that was possibly re-aged. Reaging a debt is a violation of the FCRA
The balance of this debt is over $3,500 and is constantly increasing anywhere from $30-$50 every month. There is no way I have the funds to settle this or even PIF right now, so that is not an option. If I call the CRA and ask for the DOFD, aren't they just going to give me the exact same DOFD Asset Acceptance has listed in my EQ report? I wish there was a way I could find out from Citibank what the true DOFD because I am completely positive that Asset Acceptance has placed the wrong DOFD on the reports. I guess I will have to take it up with Equifax via a letter. The reporting of this account is another thing that looks so odd- if the collection account was opened with Asset Acceptance in 3/2010, how can they report that it was paid as agreed every single month until the month of February in 2013 and then mark that as CA?? I'm just really confused as to what I should do in this situation. Perhaps I should call Equifax or will a letter be more sufficient?
CAs don't report payment history. They can't.
Where is your report from? Sometimes the OC account gets merged with the CA account.
Can't you call Citi and ask them? Do you have an old report or statements showing when you first became late and never brought the account current again?
The report is straight from equifax.com. If I call Citi, I'm not sure they would even be able to pull my account up. I had this card years ago in 2005 and the supposed DOFD (from Asset) is 07/2008, but I have no faith in that date. I also have no old statements or old reports. As previously stated, I never paid attention to my credit until just last month, so, I never cared to print any reports off and I know for a fact I don't have any statements laying around since I had that card while I lived on a college campus and I have moved twice since then. Maybe I should still try to call Citi and ask?? In regards to the payment history, how can the history key show that I paid as agreed from March 2010 until January 2013 and then show CA in the February 2013 column? I haven't been paying on this card and I know for a fact that I certainly wasn't paying in 2010, 2011, 2012, or 2013. I'm just confused if I should let this go or take any steps.
If you know for a fact the CA has reaged your account I would not let it go. However, you have to be able to proof it.
Yes, first I would call Citi. They may still have something.
Have you ever sent the CA a DV letter?
I will give Citi a call and no, I have not sent the CA a DV letter. I was thinking about doing that but was then afraid to open up a can of worms on this huge debt. SOL in Michigan (where I reside) is 6 years and according to the DOFD they placed on my reports, I wouldn't be out of the SOL time frame until 07/2014. I did not want to risk being sued, even though I believe the DOFD to be incorrect. Of course, I have no proof so it would be my words against theirs. Oh well. I will call Citi and see what they have to say. Thank you for the advice everyone!