I have one paid collection account on my CR's. EX and EQ were reporting paid, TU reported unpaid. I disputed with TU and the account was updated. Now- on all my CR's - the "Date Reported" is 6/04, I guess Amex reported to all CRA's in June, not just TU. Here's my question: Is the reported date considered the DLA? Below is a cut and paste from my TU report - notice there is no DLA listed, same goes for my EQ and EX reports..no DLA, just a "date reported": AMEX Account No.: 0600**** Type: Charge Account Payment: Date Opened: 10/01/2000 Balance: $0 Terms: Date Reported: 06/01/2004 High Balance: $1441 Limit: Past Due: $0 Condition: Closed (Paid) Responsibility: Individual Status: Collection/Chargeoff Remarks: Payment after charge off/collection Canceled by credit grantor Two Year Payment History: None Reported Seven Year Payment History: 30 Days Late: 60 Days Late: 90 Days Late: Thanks in advance for your input! Lynn
DLA isn't always shown, and isn't the same as "the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action." EQ is the only one that actually reports both of those entries when available, and on EX you can usually deduce the commencement date from the account payment history when it is available. The date you paid the account could be the DLA, but the obsoletion date is still determined by "the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action." In other words, activity may happen after "the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action", but "the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action" doesn't change just because there was activity.
I havea(nother) DLA question! Thanks, Jam and PD - ok - i understand so far! The collection was paid in 2002. Looking at my reports, it looks like the collection was JUST paid in June 2004 (since all i see is date opened, and date reported. I'm concerned; will a mortgage lender know that I paid this off in 2002 - or will he see the "date reported" as the payoff date? Lynn
Re: I havea(nother) DLA question! date reported is just that....the date the information was reported to the CRA, no one should take it to mean anything other than that... do you have any proof that you paid this off in 2002? That would mean more as far as the mortgage lender is concerned!
Re: I havea(nother) DLA question! The mortgage lender will know that (especially with both TU, and EX now requiring 100% reporting of 100% of trade lines on a more frequent basis) that trade lines will be updated more frequently than before.
Re: I havea(nother) DLA question! Jam, I have the cxl'd check - do you think I would need a statement from Amex (LOL good luck to me on getting that!)
DLA question! Who's error?? I just pulled my Equifax report and score. First a bit of history regarding Amex. - Amex charged off my balance of $1400 July of 2001. I paid the entire balance Septmeber 2001. (Amex sent me to internal collections - not an outside CA.) - Equifax is reporting this on the Amex account - keep in mind this collection was paid in full, and closed by Amex September 2001 - No payment history reported from Oct 2001-July 2002 (I have old CR's) From August 2002 until May 2004: Account paid as agreed From June 2004 (the date I first disputed the account as Paid In Full), July 2004 - 120+ Days Past Due/ Collection Account I was on the phone with EQ and couldn't get an answer - she wanted to investigate with Amex all over again. I told her that my problem is NOT with Amex, but EQ. 1/2 hour later, I was ready to jump from the 5th floor of my building! How can a closed accout report as Paid as agreed? Who's error is this?? Can recent 120+ mark on my CR lower my score? My score went way down on EQ - TU is what I expected - Havent' check EX score... Any ideas on what I should do? Thanks in advance, again, for you input! Lynn (getting grey hair too soon!!)
DLA question! Who's error?? You want the account to be "PAID AS AGREED", a closed account which was paid as agreed would still be "PAID AS AGREED" even after the account was closed. PAA is the way you want this to be reporting...
DLA question! Who's error?? The recent 120 day late is what is causing the problem. The PAA is what you want the account to report as. When you disputed the account, Amex verified that the account was paid, but it was paid when it went into collections, which put the 120 day late more recently. You will probably have to dispute it again "Since this account was closed on xx/xx/xxxx, and PAID IN FULL AS AGREED, at that time, this account could not have possibly been late in June 2004." There are positives and negatives with this dispute, it admits the debt, *BUT* it establishes a Johnson v. MBNA specific dispute which Amex needs to CONCLUSIVELY VERIFY.
