First, I did a search and found lots of interesting info, but nothing with the same problem. That is probably due to my lack of search skills. So, here it goes. Back in 1990, my first year of college, I got an Amex card. To cut to the chase, by 1993, I had stopped making payments on the card. Due to this experience, I have been very diligent in monitoring and managing my credit. So, yesterday on my birthday, I get a "Credit Alert" from my monitoring subscription stating that a "Major Derogatory" was added to my Experian file. When, I checked the report, the old amex account is listed. It was reported 9/7/2008 with a last update of 9/17/2006. Today, I sent an online dispute via the Experian website, stating the account is nearly two decades old and hasn't been paid since 1993. My question is, has this happened to anyone else ? And, what if anything can I do about it if they somehow reply back with the account as verified ? I don't have any documentation regarding this account because it is so old (almost half my life ago). Thanks in advance.
It's called reaging, it's illegal under the FDCPA, but if you go to suit on nothing else, they'll just claim "bona fide error", fix it and claim they owe you no damages and the judge will probably agree with their position. If you engage with them and tape them on the phone you might rack up a few more violations ... or you might not. You want to be careful on the phone if you live in a state where a verbal acknowledgement can serve to reset the SOL clock. They're taping too.
Thanks for the info. I live in Georgia, but hadn't planned on contacting AMEX....unless absolutely necessary. What are the chances the debt would be verified ? I read the "Top 100 mistakes" thread and was wondering if I should apply for credit in order to "prove damages". Is this what you are alluding when you say take to suit on other points ? Other than my Experian score, my credit is good. However, I'm also afraid that this may affect my other credit lines until it is resolved. I have a lot of free credit capacity and this may spook some of those creditors to cut lines. TrueCredit Scores: Equifax: 802, TransUnion: 759, Experian: 716
Is it AmEx is reporting or is it a CA? If it's AmEx, then the FDCPA doesn't apply, the FCRA would be a better one to look for relief. If it's a CA reporting on an AmEx account/charge off, then the FDCPA would apply.
If it's a debt collector or purchaser, you have a claim albeit marginal (1k max plus attorney's fees under the FDCPA). Therefore, you need to dispute the account tradeline based on the date of last activity/status or lack thereof. If it's verified, it's an FCRA violation and another FDCPA violation if it isn't AMEX reporting it.
The investigation came back as updated. All they did was add a note to the account. Here are the details: Account Opened: 09/1990 Reported Since: 09/2006 Last Reported Date: 09/2006 Status: past due as of Sep 2006. This is an absolute lie. This account has been past due since 1993. I'm not sure what my next step should be. I don't have any paperwork or supporting documents to back up my assertion. This account and data just appeared on 9/10/2008. Should I call Amex ? I really appreciate any help or advice. Thanks.
You never said whether it was Amex or a CA reporting. How you proceed will differ depending on your answer.
I suspect this is a CA. Amex likes to keep its hands clean. On another board I have noticed that Amex's collectors seem to be playing a little rougher lately. Maybe this is just another example of it.
How would I know if it is a CA? I contacted AMEX and they said the account was opened in 1990, went delinquent in 1992, and was closed in 2005. I asked if they could give me any more information such as actual dates of payments, etc. and they said I would have to mail the request to their "Special Research" department. The phone number I called was the one listed on the credit report. Otherwise, I don't know where else to get info as to whom is reporting. Armed with the above information, I sent another dispute via the Experian website.
Do you not have a copy of the Experian report for which you are disputing? On the left side of the tradeline there will be an address and a phone number - just above it will be a name. It will either be Amex or some unknown company. If it is a CA, on the right said of the same tradeline it will say "Original Creditor American Express"
I've been doing more reading on the board. First, I want to thank everyone who has taken the time to help me and steer me along. Anyway, based on some other posts I've found, I believe my first dispute was not worded correctly. I chose "Account closed" and added a note that I havent used the card since the 1990's...obviously not very informative or exact. The dispute I made today I selected "other reason" and added the note "Per FCRA the date of last activity is the first missed payment that makes the account delinquent. For this account it is 1993, not 09/2006". My guess is the dispute today will fail as well. I now believe, the actual dispute I should make is based on incorrect/missing information because there is no DOLA reported. According to the Experian report the assumed DOLA is 03/2006, 6 months prior to the first report date; but it really should be sometime in 1993 (when I made last payment). What I dont know is what should I select from the drop-down reason list and how should I word the note. Or, should I send a letter to the CRA instead? If so, which template should I use? Thanks again everyone. Here is the info directly from the free Experian report. Status: Account charged off. $1,087 written off. $1,087 past due as of Sep 2006. Status Details: This account is scheduled to continue on record until Mar 2013. This item was verified and updated on Sep 2008. Date Opened: 09/1990 Reported Since: 09/2006 Date of Status: 09/2006 Last Reported: 09/2006 Type: Revolving Terms: NA Monthly Payment: $0 Responsibility: Individual Credit Limit/Original Amount: NA High Balance: $1,087 Recent Balance: $1,087 Recent Payment: $0 Account History: Charge Off as of Sep 2006 Creditor's Statement: Account closed at credit grantor's request.
Amex may be reporting this, but probably because they let a CA get too deep into their database. Amex historically simply hasn't done this sort of thing. They wait for you to come to them and want a new Amex account and then they either deny you outright or perhaps you find out about Oasis. Depends on how well trained the rep is. If Amex is doing this sort of thing now, it's out of desperation, and the higher ups are probably not OKing it, it's just they're pressing some underling to make his numbers and not paying attention to how he's trying to do it. It's honestly like hearing somebody say that Donald Trump was diving in a dumpster. Number one, he thinks he's too classy to do that (nevermind whether or not he really is classy), number two he doesn't really need to.
This is disturbing and simply makes no sense. I would take them up on this, and I would specifically include in my letter the dates the first person gave you. Is "illegally reaged" please remove immediately. I've personally seen Amex reage before. That's why I don't have a paid charge off on my report
Rule 5000 would have Amex closing the account no later than 1993. As for what they are doing, they're groping in their couch cushions for loose change: Reggie Middleton says... | When the best of the best start with the shenanigans, what does that mean for the rest... - My team has finished the Amex analysis, and it is interesting. | Reggie Middleton's Boom Bust Blog | Vote, Report, Down, Votes As Reggie says, when the best of the best start playing games, what does that say for the rest?
Thanks jlynn. I'll do that dispute once the current one is addressed. I also agree, when I heard those dates from the rep, I was in shock. I think the reason she didnt want to say anymore on the phone was because she caught herself saying dates that didnt make any sense. She refused to give me the dola again, would only keep repeating date opened and date closed. Defered dola request to "Special Research". I will take them up on the offer depending on results of current and next dispute. flacorps, you are correct...this smells bad through and through.
My American Express debt is 15 years old too, illegally reaged. Tell me how did this all pan out for you. I am in the exact situation. My account was opened in 1990, last payment made in 1993. Got an email from credit alert stating something was derogatory on my file. It is from Amex on my Experian report. They have illegally reaged the date to be 10/08 (15 years later) and date to be removed is 2018. I have disputed based on the fact the account was closed 15 years ago and filed a charged with the ftc. Please update me on your status. This must be the new trend and I can't find anyone else in this exact situation accept for you. This is not a collection agency. It is AMEX and has the same address as you have.
It didn't look good for a while, but I got lucky. After 2 attempts at online dispute via Experian, both came back as verified, they would not let me dispute again. Well, a few days later, the line showed up on my Equifax report. So, I disputed it online using the following "Illegal re-aging. The date of first delinquency on this account is October 1992. The account was already on my credit file from 1992 to 1999" 3 days later Equifax responded by removing the item from my report. The next day the item also was removed from my Experian report. What this tells me is Experian didn't actually investigate or whatever they did was full of it. Equifax did an actual investigation and brought the problem to Amex's attention prompting Amex to remove the line from both bureaus.
You should check your Experian report directly with Experian. Your trimerge says it is to stay 10 years which is incorrect in and of itself. In light of the other poster's findings (they don't think Experian investigated), I would send a FACTA dispute straight to Amex as well. I'm curious, if you get your Experian report - what address is reporting with Amex? I saw a debt collector, collecting for another CA, that used the CA's name and the debt collector's address. Sneaky bastages. This was on Experian.
