I have an unpaid debt with Iberia Bank (OC = Original Creditor) for $264. Experian is reporting the debt on two seperate but nearly identical trade lines in my credit report (same truncated account #'s). They are listed as follows: 1st Entry in Experian: IBERIA BANK DIRECT Date Opened: 08/1994 Date of Status: 09/2000 Reported Since: 09/2000 Last Reported: 09/2000 Type: Revolving Terms: N/A Monthly Payment: N/A Responsibility: Individual Credit Limit or original amount: $264 High Balance: N/A Recent Balance: N/A Status: Account Charged Off Account History: Charged off as of September 2000. This account is scheduled to continue on record until March 2007. This item was verified on August 2006 and remains unchanged. 2nd Entry in Experian: IBERIA BANK DIRECT Date Opened: 08/1994 Date of Status: 08/2006 Reported Since: 08/2006 Last Reported: 08/2006 Type: Revolving Terms: N/A Monthly Payment: $10 Responsibility: Individual Credit Limit or original amount: N/A High Balance: $392 Recent Balance: $264 as of Dec 2006 Status: Open/Past Due 180 days. $523past due as of Dec 2006 Account History: 180 days as of Aug 2006 to Dec 2006 As of May 2013, this account is scheduled to go to a positive status. This item was verified on August 2006 and remains unchanged. I have disputed with the CRA's and Transunion deleted the credit line. However, it still remains on Experian and Equifax (only one "TL" trade line on Equifax remains). The 180 days as of Aug 2006 is killing my score!! I want to be careful with this one since the statute of limitations is near (2 months). After reading many posts and FAQ, it seems my next step should be validation of debt with the OC (Iberia Bank). It seems I should not even offer a PFD since I am at the end of the time limit for the OC to continue reporting the debt to the CRA's (Experian says 2 more months). The 1st Experian entry should drop off in 2 months, but I will have a problem with the 2nd entry dropping off since it appears Experian has re-aged the TL. Based on what I have read my plan of action should be: 1. Dispute the dates on 2nd entry with Experian. Dispute as: "The date open, date closed, date of last activity, date of the commencement of the delinquency are not accurate. " 2. Debt Validation Letter to OC for 1st and 2nd Experian Entries. 3. After I recieve validation from OC on dates, send to Experian to have removed after 7 years has passed in 2 months (If they match up to the 2 month drop off). Questions: 1. Am I on the right track? 2. What if Experian keeps reporting these bogus dates and TL's in the validation? 3. How can they post 2 TL's on the same debt? 4. Should I wait 2 months (when 7 years is up) to dispute with Experian and OC? I welcome comments and suggestions.
You first need to call the CRAs and find out what dates they show for "Date Of Last Activity", and Date of First Deliquency". These are the dates that "set the clock" for the 7 year reporting timeframe. Get the details on how they have these dates set, and why. They then should be able to tell when exactly when the tradelines should fall off your report. If the CRs tell you different dates than you believe to be the case, then dispute those details. With only 2 months left, you can always dispute in a few months that the tradelines "Are Past SOL".
rocket1977: The accounts appear to be the same (the first 3 numbers are the same) and the amounts are the same but it is possible they could be seperate accounts that were closed at the same time (2000). bizwiz41: I called Experian and they told me the date of last delequincy was 09/2000 for the 1st entry and 12/2007 for the 2nd entry (on my original post). I disputed the date of last delinquincy and the date of first delinquincy. This account has not been paid or acknowledged since 2000. Now it appears they are "re-aging" one of the accounts to December 2006 (due to fall off in 7 years!!)? 1. What do I do if Experian verifies" the date of last delinquincy/ activity again as 12/2007 - which is not accurate? 2. Should I send a letter of validation to the OC now or will this open a can of worms? I dont understand how can I dispute the SOL in 2 month, if they OC keeps moving the date of first delinquency? 3. Won't I need to get something from the creditor showing proof of the first delinquency and date of last activity? Thanks
How to find out first date of delinquency greauzpete, How did you go about getting the first date of delinquencty. I have called several different numbers for EX and keep getting the run around.
Sorry for my ignorance When I call that number it asks me " what portion of my report am I disputing" at this point I am not disputing anything I just want to know the original date of delinquency. Can you please enlighten me as to what I need to do to get these dates. Thank you very much for your help.
Technically, you are disputing the absense of the original date of delinquency, which renders the report incomplete and therefore inaccurate. FCRA requires the DF to provide the original date of delinquency to the CRA. § 623..Responsibilities of furnishers of information to consumer reporting agencies "[15 U.S.C.§ 1681s--2 ] (a)Duty of Furnishers of Information to Provide Accurate Information ... (5)Duty to Provide Notice of Delinquency of Accounts (A)In general .A person who furnishes information to a consumer reporting agency regarding a delinquent account being placed for collection,charged to profit or loss,or subjected to any similar action shall,not later than 90 days after furnishing the information,notify the agency of the date of delinquency on the account,which shall be the month and year of the commencement of the delinquency on the account that immediately preceded the action. ..." As information reported by the DF to the CRA, it is therefore part of your credit file. The FCRA therefore requires the CRA to provide it to you, the consumer, in your credit report. "§ 609..Disclosures to consumers [15 U.S.C.§ 1681g ] (a)Information on file;sources;report recipients .Every consumer reporting agency shall, upon request,and subject to 610(a)(1)[§ 1681h ],clearly and accurately disclose to the consumer: (1)All information in the consumer's file at the time of the request except that-- (A)if the consumer to whom the file relates requests that the first 5 digits of the social security number (or similar identification number)of the consumer not be included in the disclosure and the consumer reporting agency has received appropriate proof of the identity of the requester,the consumer reporting agency shall so truncate such number in such disclosure;and (B)nothing in this paragraph shall be construed to require a consumer reporting agency to disclose to a consumer any information concerning credit scores or any other risk scores or predictors relating to the consumer. ..." Request it in writing, indicating that the consumer report they provided was incomplete and inaccurate, as it failed to show the original date of delinquency reported by the data furnisher, as required by FCRA. File an FTC and state AG complaint if they fail to respond.
Thanks for the Response ontrack I will request all date in writting from all credit bureau's. In the meantime I am trying to decide what to fight and what to just let fall off. I contacted TU and they gave me all of my date of delinquency and most of them will drop off in the next few months. I am trying to get the same information from the other two agency to confirm this finding. I will request in writing but if they are going to drop off in a few months I don't want to waste time fighting them.
Ontrack: Sounds good as far as disputing with the CRA on the "original date of deliquency". I will include this language in my dispute. Should I ask the original creditor to validate the accounts? Does the OC have a responsiblity to me to respond to my validation letter?
I would send the OC a dispute letter under FCBA, alleging you have no knowledge of the account(or that they are reporting a duplicate and reaging) and a review of your credit report is the first notice you had of the account. When you get the green card back from them, file your dispute with the CRA and see if it is verified.
