I recently looked at my credit report and noticed several CA's showing account open dates for the last year. They are trying to collect for credit accounts originally opened in the mid 90's. Are they suppose to use the open date the original credit account was opened? Also does any one know the what the staue of limitations, in Kansas, is for items on your credit report? Mainly how long they can attempt collection. Also if they attempt collection past the statue of limitations date is there anything you can do stop them, and are they still allowed to report after the statue of limitations date? If anyone can shed some light on this I would really appreciate it!!!
Federal law, FCRA, allows reporting of negative information for up to about 7.5 years after original first date of delinquency. The original first date of delinquency is the first date you failed to make a payment when due, and from which the account was not brought current. The date the account was opened is not relevant. Nor does the date a CA opened a collection account change the original delinquency date. The CA is required to report this original delinquency date to the CRA within 90 days of reporting a TL, and the CRA is required to not include negative TLs in reports prepared more than 7 years after the date. http://www.ftc.gov/os/statutes/fcradoc.pdf �§ 605..Requirements relating to information contained in consumer reports [15 U.S.C.�§1681c ] (a)Information excluded from consumer reports.Except as authorized under subsection (b)of this section,no consumer reporting agency may make any consumer report containing any of the following items of information: (1)Cases under title 11 [United States Code ] or under the Bankruptcy Act that,,from the date of entry of the order for relief or the date of adjudication,as the case may be,antedate the report by more than 10 years. (2)Civil suits,civil judgments,and records of arrest that from date of entry,antedate the report by more than seven years or until the governing statute of limitations has expired,whichever is the longer period. (3)Paid tax liens which,from date of payment,antedate the report by more than seven years. (4)Accounts placed for collection or charged to profit and loss which antedate the report by more than seven years. (5)Any other adverse item of information,other than records of convictions of crimes which antedates the report by more than seven years. ... (c)Running of Reporting Period (1)In general.The 7-year period referred to in paragraphs (4)and (6)3 of subsection (a) shall begin,with respect to any delinquent account that is placed for collection (internally or by referral to a third party,whichever is earlier),charged to profit and loss,or subjected to any similar action,upon the expiration of the 180-day period beginning on the date of the commencement of the delinquency which immediately preceded the collection activity,charge to profit and loss,or similar action.
So If a CA is reporting and have been reporting for a couple of years, but not showing in the area showing "Date of First Deliq" nothing is showing, but everything else.. I'd like to go after them based on this information you reported..
