Hi, Here's the deal. I checked my credit report as I do every few months. I noticed a negative standing account. The company is new to me... but the account matches a card that is old, years old. It was closed in 2000. On the report now it says "Opened 2/05" and "Closed 3/05" and that it's scheduled on record till 2012! I had 2 years to go until this was to be removed! What can I do about this? --Mike
sounds like a collection agency recently acquired the old account and have now placed a trade line on your report - complete with a new date so that your account is reaged.
Isnt' that faslifying information to say that it was opened in 2/05 when that is not the case? Something must be able to be done here.
yes No The OC is allowed to keep their TL on your CR for the 7 year reporting period, however, if they sold the account it must say so, and read balance $0 The CA is allowed to place their TL on your report as well since they now have a business relationship with you. They will very often "REAGE" your account so that it looks new from the date they first take it over, but the only date that matters is the date of first delinquency..that determines how long the entry can appear on your report. Of course the CA will continue to "update" the report so that your Scores are trashed. The only way to deal with derrogatory information is to get it removed if possible
it is not false information, the CA opened your account with them in 2/2005, that is true, and it is a separate issue from the issue you have with the original creditor
That's why you have two entries...one for the original creditor, one for the collection agency...nothing wrong with that, unless they are reporting inaccurately
It's not two entries... just the one entry. It's the same account with a new open/close date. There's nothing I can do about that? They can just call up and change that date and make it stay on the report of any length of time? It's on my TU report. My score with TU is 684, before this addition. I just checked my Experian score and that's 730. I don't know how... but it is. I just ordered the Equifax... that should be interesting.
The collection agency placed their tradeline from the date they received the account, there is nothing illegal about this...they do it so that your scores will be trashed for as long as possible. The date that matters however is the date of first delinquency It will not stay any longer than the date of first delinquency with the OC. You may need proof of that date from an old CR or statement. You could request validation from the CA and if they fail to validate you could have the TL deleted.
Nothing illegal about it? Well, it's definitely not nice! Those evil doers. Anyway, is it the date of the first deliquency, or the date of the first delinquency that wasn't followed by any payments? So, if the date of the first delinquency was in 1999, it can't stay past 2006 right? So, the 2012 stuff is just hooey as long as I can prove that the delinquency was first in 1999?
Re: Re: Something fishy going on here Correct..the date it first went delinquent, and has never been brought back current. Correct, just hold on to whatever you have to prove those dates!
Re: Re: Something fishy going on here When you look at the credit reports it shows the right dates of delinquency. That's what threw me off about the whole thing. There's been no activity on these accounts for years, then all of a sudden it's opened in february and closed in march, seemingly just for the purpose of putting it on there again. --Mike
Re: Re: Something fishy going on here what is important is the correct date of delinquency...that will determine when it gets removed from your reports as far as the CA playing games by opening the TL in Feb, then closing it in Mar, I would write to them something like this: "During a routine review of my Credit Reports, I found an entry listed for your company with an opening date in Feb XX, and a closed date of Mar XX. Be advised that I do not have, nor ever did have an account with your company, and you are reporting inaccurately on my credit reports in violation of the FDCPA. This will be your only waring to correct this inaccuracy before I takew further legal measures"
Re: Re: Something fishy going on here I like the sound of that. Thanks, I'll get right on that. God love online postage. Wait a tick... is the "Date Opened" and "Date closed" when I opened/closed account, or when THEY did? Or is it the same thing?
What can you do? File suit against the new creditor. The fact that it is scheduled to come off in 2012 proves they attached a "Status Date" of 2005 to the account (2005 + 12 = 2012). That, my friend, is re-aging and is a FCRA violation. Don't waste your time sending letters - send a summons.
Re: Re: Something fishy going on here Flyingifr is right! I did not want to put it so strongly for a newbie but that is the way to get their attention!
Re: Re: Something fishy going on here I'm new to the board, but not completely new to the game. I was in the mid to late 500's not too long ago... now I'm up to the 600s and beyond. I wasn't aware though of the "re-aging" thing. Are there damanges that could be had? Or is it just to get them to remove completley or what?
Re: Re: Re: Something fishy going on here If they don't willingly write you a $1000 check, sue them and have the Court order them to.
