ok - have customer who had cable bill sent to collections (1997 or 1998) and was discharged in chapter 7 in 1999. would the DOLA be the date that they stopped paying the cable bill (which isn't reported), the date the collection was opened, the date the bankruptcy was filed, or the date the bk was discharged? yes, they did dispute and requested validation and all that happy crap. just trying to figure out the DOLA.
Re: Re: utility DOLA quote: -------------------------------------------------------------------------------- Originally posted by jenz thanks lbrown for the bump. bumping again...HELP! -------------------------------------------------------------------------------- Will someone tell us /? ~~~~~~~~~~~~~~ They never take it off the report when we make it right so why should we take it off the docket when they do? *** Victims of Credit Reporting *** http://members.aol.com/victcrdrpt/Score.html
Re: Re: utility DOLA i guess not lbrown... i'm surprised no one has ever come across this problem before. oh well, i will just have to assume the DOLA is the date it was discharged in bankruptcy (worst case scenario)
Re: Re: utility DOLA I'm confused about why this is even a question. Is there something special or different about this? I was reading earlier tonight about a SOL that was disrupted due to BK13, but I can't see what a BK7 would have to do with the dates...am I right? So the DOLA would be the date the account was charged off. So typically that's the date of last payment plus give or take 6 months. That's why a TL falls off 7 years =/- 6 months. What am I missing here?
Re: Re: utility DOLA What am I missing here? goldhummin ><- <>- ><- <> ~~~ ><- <>- ><- <> ><- <>- ><- <> ~~~ ><- <>- ><- <> http://newfunpages.com/taxform.php3
Re: Re: Re: utility DOLA account wasnt charged off - it went to collection. since its utility (so no TL), how do you know when the last payment was on an account from 1997? all that shows is when the CA began reporting it.
Re: Re: Re: Re: utility DOLA From http://www.ftc.gov/os/statutes/fcra/johnson.htm "My last payment was received by the creditor 12/96. My payments were due monthly and I missed the 1/97 payment and all subsequent payments culminating in a charge off. This creditor does not report to the credit bureau until the account is 90 days delinquent. . . . The creditor contends that the delinquency did not occur until 3/97 because that is when they first reported it." Section 623(a)(5) requires a creditor that reports a chargeoff to a CRA to notify the agency (within 90 days of reporting the account) of "the month and year of the commencement of the delinquency that immediately preceded" the chargeoff. Section 605(a)(4) provides that the credit bureau may report the chargeoff for seven years. Section 605(c)(1) provides that seven year period begins 180 days from that date. [BOLD]In the scenario your reported, it is our view that the delinquency that led to the charge-off "commenced" in January 1997, the month the first payment was missed. Thus, that is the month and year that the creditor must report to the CRA, and that the CRA must use to calculate the time period dictated by Section 605.[/BOLD] If you did "all the other crap", and they didn't respond, and they verified with the CRAs, you might have to consider and ITS.
