Date Assigned used in Score (Yet another Date ?)!

[sh9730]

OK...searched and there are a million posts about the DOFD vs DOLA vs Date Assigned as they pertain to reporting times and SOL, but my question I didnt see?

I have a JDB that acquired and "opened" their collection on an old charge off in 4/06.  I fully understand the drop off date requirements and SOL (OC far out of SOL..already removed from 1 CRA and soon on other two and the CRAs are reporting that this collection will also drop off soon),  BUT FICO, in the "whats hurting" section, reports the collection as only 1 yr 10 months old?  How does FICO SCORE a collection when its related to a really old OC? 

And, if it is correct, will I see any bumo in score when it hits 2 years? Like I say its gonna drop in a few months anyway...but just driving me crazy now...

Thanks.

[haulingthescoreup]

In which field did the "collection" report? The FICO formulas crunch what's given, and they can't interpret what's accurate or BS. If the JDB (lying SOB's) entered 4/06 in a field that is meant for DOLA or DOFD, that might be it.

Sorry, I haven't had my coffee yet, so my brain isn't turning over very well yet! Anyone else who's a bit more perky out there?

[sh9730]

OC Entry:

Ford Motor Credit

Status as of [?] Oct, 2001

Date opened [?] Sep, 1998

Date of last activity [?] Jun, 2001

Date paid out [?] Not Reported

Date closed [?] Oct, 2001

Account number [?] XXXXXXX

Loan type [?] Auto Lease

Credit limit [?] Not Reported

Largest past balance [?] $32,108

Terms [?] 36 Monthly

Account Type [?] Installment Account

Account holder [?] Individual Account

Scheduled payment amount [?] $601

Account status [?] Account is Closed

Descriptions [?]

• Purchased by another lender

Latest JDB entry (This is only CA currently reporting on this OC which is the way it is supposed to be, but the date seems wierd to me?):

Collection on debt to: 14 Ford Credit Us

The collection agency "Cavalry Port" was hired to collect a debt of $10,611 originally owed to "14 Ford Credit Us" on account number "XXXXXXX".

Collection agency [?] Cavalry Port

Original balance [?] $10,611

Current balance [?] $14,885

Status [?] Not Reported

Date assigned [?] Apr 25, 2006

Date reported [?] Dec 09, 2007

Date last active [?] Not Reported

Date paid [?] Not Reported

Date closed [?] Not Reported

Original lender [?] 14 Ford Credit Us Account number [?] XXXXXXX

Type of account [?] Not Reported

Account holder [?] Individual

Type of credit [?] Not Reported

Payment status [?] Not Reported

Largest past balance [?] Not Reported

Amount past due [?] Not Reported

Account descriptions [?] Not Reported

Now, on the other CRAs this JDB is reporting the DOLA as correct of 6/01 even though it doesnt show up on this CRA entry. But again, my main question in this post is that FICO is listing this as an UNDER TWO YEAR collection...thereby dinging my score.....is that the way it works?  And again will I see a score bump when it does reach two years, even though it is gonna drop off in June?

Of course they also use a different account than the OC had assigned, but whats new about that?   The good news is this (these) are my last baddie.....

Thanks

[haulingthescoreup]

I'm trying to find someone who is more knowledgeable about collections than I (which is just about everyone, lol) to take a look at this. Anyone else, please pop in!

[Anonymous]

Even if this had the DOFD listed-

FICO sees that this was updated recent and is going to ding you as a new collection-

The CA's updating on a regular basis is common mostly for this purpose

[sh9730]

Thanks Tim...any idea whether I ll see a little bump after it turns two?  I know it only has a couple months after that to go before dropping off....but that is right when Im gonna be rate shopping (April/May) and Im right at that 690/700 cusp for rate differences?

[Anonymous]

what is your SOL   this would go under promissary note?

[sh9730]

Huh, this was an auto lease?  But either way, Im in California and all written agreements are 4 years from date of breach...out of SOL.

[Anonymous]

OK  TU and EX go by DOFD (CRTP)   look at your CR for * will remain on CR until  month/ year

      EQ uses DOLA sooooooo  they should drop

OK im having trouble with this site  I will be right back       don't go anywhere!!

[sh9730]

Thanks Happy...but yeah, I knew all that...I was wondering why a CA that was related to a really old OC is showing as "new collection" as it relates to FICO scoring....and whether when it passes the 2 year old mark I will get any score bump...?

But thanks...