Can a Major Derogatory or Deliquent acct show on CR if its old debt (within 7yrs)

Discussion in 'Credit Talk' started by Jokah, Jan 21, 2010.

  1. Jokah

    Jokah Member

    Story 1:

    When applying for a loan I was informed that I had a recent derogatory and deliquent accounts on my CR which surprised me because all of my accounts are old, the youngest derogatory was 2 years ago which I paid in full once I realized I owed this debt (did not settle it), None the less, I began investigating.

    After looking into my CR more, I noticed that there have been a few items shown on my "recent alerts"

    Within the last year, a few "Major Derogatory" and a few "Delinquent Account" started to appear on my CR years after the activity date on these accounts. (5 years or so, but within the 7 year to be on my CR)

    I understand re-aging of debt, but if the debt is already on my CR and it is an old account, how are they allowed to post this as a recent Major derogatory or delinquent account? One of these alerts show it deliquent in December 2009 when the account has been on my CR for years and the last activity date has to be over 5 years old!

    Questions regarding Story 1:

    Question 1: legally can the original creditor or even debt collectors post a Major Derogatory/Deliquent on debt that is not recent?

    Question2: What course of action would you recommend I take to resolve this if illegal or even legal. (If legal, should I pay)

    Story 2: I had a sprint account go into collections years ago, I noticed it was on my credit report twice with collection company Alpha and collection company Bravo listing it. I sent DV to both of these. Later I receive a letter from collection company Charlie which now says they own the debt. DV sent, they replied with appeared to be legitimate that they own that debt, which I settled for XXX dollars. I was informed they do not report to CR agencies, they deal with sprint, and sprint handles the account as they choose (could have been a fib)

    I never received anything back from collection company Alpha or Bravo as I focused my attention on collection company Charlie and no longer pursued companies A and B. (I know, I messed up)

    So basically I am not sure if I need to follow up with another DV letter or send a letter to the bureaus or both.

    Question to Story 2: Need some guidance, what course of action should be taken?

    Thank you for your help!

    - Joe
  2. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

    My understanding is that the DOFD should never change, unless you happen to do something like commit to a new payment plan and then default again. The rules on this vary from state to state. Unfortunately, what happens sometimes is the debt will be sold multiple times and then the JDB will report the date they acquired the account as the new DOFD. That may have happened to you in this case. Have you tried disputing the incorrect dates with the CRAs yet?

    Regarding the Sprint collection, how is it showing up on your credit reports now? If it's been settled and paid with the last CA, and it's still reporting as an unpaid collection with the first two, then I would suggest disputing those inaccuracies first with the CRAs as well.

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