I had an account with Associates National Bank that was later acquired by Citibank. According to two old credit reports that I have, the account was closed in 2000, the balance was $1,315, and the past due amount was $1,036. While I have no proof of the year, it sounds about right. The old account is no longer on my credit reports but Midland Credit Mgmt is listed on the reports now that they are attempting to collect the money. Recently, I disputed this with Equifax. The outcome of the investigation is listed as 'Reviewed'. When I viewed the updated copy of the report it says: MIDLAND CREDIT MGMT Address: Account Number: ***** Original Creditor: ASSOCIATES Status: NO STATUS. Date Opened: 05/2005 Type: NA Credit Limit: NA Date of Status: 12/2006 Terms: NA High Balance: NA Reported Since: 12/2006 Monthly Payment: NA Recent Balance: NA Last Reported Date: NA Responsibility: Individual Recent Payment: NA Your Statement: Account in dispute under Fair Credit Billing Act Am I right in thinking that they cannot claim the account was opened 05/2005 just because they may have acquired the debt that month? Now I no longer have the old credit card or any statements. Also when I called Citibank the CSR couldn't find any info on the old account but she told me to send a letter to their service center in Sioux Falls, SD. I plan on doing this, since I do have the account#. Once I get that info (if I get it) should I send it to the Equifax? Also would Equifax accept an old credit report from them as proof? Do you you think, if I asked for proof from Midland, they'd give it to me? If I'm not being clear, let me know. Please offer me any insight you may have. Thanks in advance.
Has Midland actually contacted you to try to collect on the debt? If so, they should have sent you the initial letter required by FDCPA that would have notified you of your right to dispute and request validation, and that if you did not do so within 30 days, they would assume the debt was valid. Your strongest right to force validation or removal by Midland is in a timely dispute and validation request response to such a letter, or if you have not been contacted. If they do succeed to provide validation, what is SOL for CC debt in your state?
Well I have been contacted by Midland by mail several times but have ignored them, unfortunately. I believe the SOL is 5 years in PA. I would be satisfied if they just changed the dates on my report, because the info should fall off of my report next year.
In other words, they can report the date the CA opened its collection account, but the original date of delinquency of the account with the original creditor remains unchanged no matter how many times the account is sold or transferred. Each CA reporting must report the same original date of delinquency to the CRA within 90 days, so the CRA can ensure that the account is removed after 7 years from that date.
They have to provide it to the CRA. On paper reports, this is usually shown as "FCRA compliance date."
4 years in PA... They can say that the account was OPENED in 2005, but they can't claim that 2005 was the commencement of delinquency, which is used to calculate the reporting deadline. MCM is a *REALLY* bad JDB; even if they decide to waste 39 cents to provide validation, the validation is only what they print off of their own computer, with a cover-letter that says "Here is what we got from the original creditor"; Really, so the Original Creditor keeps track of how many letters and calls that MCM made on the account since MCM bought it? Citi is really a good one too for the accounts that they purchased through their acquisitions from the Associates and their associates... They printed out supposed statements for an account claiming that the original creditor shipped orders to a PO BOX that I didn't have for more than 15 years after they were claiming that the orders were supposedly shipped. Apparently Radio Shack had the Psychic Friends Network plan their UPS shipping schedules more than a decade and a half early... Or, was it that they just changed the account address to match the address on the letter?
Call the CRA and ask them what date of first delinquency was reported with the account. CAs are required by FCRA to provide this date to the CRA within 90 days of posting a negative entry. If that date is being correctly reported to the CRA, then it should fall off your reports based on that date.
