This lady today from Experian tells me that Sherman Acquisitions, who purchased a 6 and a half year old Sears CO acct. for my wife has every right to put the opened date on her report as the day they get the account. This lady says Sherman has not re-aged this account. I'm sorry but I was under the impression that the SOL is 7 years. This means that this new Sherman Account is now gonna be another 7 years? Unless somebody here knows something I don't.... SnakeMan
The lady from Experian doesn't know what she's talking about. The reporting period is from when the debt went delinquent and was never brought current again. First, send a validation letter to Sherman. Modify it so they need to tell you the date that the debt was charged off or went seriously delinquent. Along with all the other stuff you need, like proof of the debt itself.
Really? I thought that was right but coming from her I guess I second guessed myself. I already sent a val request to Sherman 2 weeks ago. No response yet. This lady said this was legal because it was the date that Sherman purchased the debt. She said that Sears couldn't get their money so now Sherman is trying. They by trying must show the date they bought the account which starts a 7 year period for the new Sherman account!! SnakeMan
Sherman may be trying to make it look like a new debt, but it's not. They have purchased a charged-off account. Coldata tried this with my husband, and his had been discharged in bankruptcy. They can TRY anything they want. That doesn't make it legal. A small claims lawsuit might open their eyes!!
SOL is always from the original account date... NOW, on Experian check the "This account is scheduled to continue on record until xx-xxxx" date. If the account scheduled to continue date is based off of the date of delinquincy with the OC, then the account hasn't been reaged, even if the opened date is incorrect for the orignal creditor. Of course, then it opens up a can of worms; can an account be delinquent even before it was opened in the first place?
O.k. I talked to another lady at Experian today. After I called back to tell them they were full of it, I was transferred to the "special services" department. There a lady told me I was right and she would go ahead and update it correctly! Thanks for your help everyone! SnakeMan
