I had an account which was aquired by GulfState credit in 98. It is now being reported on my credit report as paid settlement (I settled with them in 99) It also says that it scheduled to continue on record untill 2006. Is that correct? Or should the "last activity date" be the one from the OC and not CA. thanks.
FCRA section 605(c) "The 7-year period referred to in paragraphs (4) and (6) 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."
The date of last activity prior to the charge off, is the date they should be going by. You should dispute it as incorrect dates with the cra. But something you might want to try, and I have no idea if it will work, is to call Sam Shannon at Gulf State. He is the compliance mgr. Tell him when you paid this, you were told it would be deleted from your reports. You never had any reason to doubt this, but now that you pulled your reports, you see that it was not deleted, and you would like them to fulfill what they said. It's a bit on the "dishonest" side, but they pull this crap all the time. Sam Shannon was very nice when I dealt with him and did everything he said he would.
