What date should a collections agency have on a collections account? I thought it had to be the date that the account went past due with the original creditor..It seems that almost all of my collections accounts have the open dates relative to when the CA purchased the account. It probably won't make a huge difference, except if they try to take it to court, and the SOL is up. uptomyneck in xxxx
Re: What date should the CA have .. "It probably won't make a huge difference," THIS IS THE UNDERSTATEMENT OF THE YEAR ha ha -This is a GREAT example of "re aging" and is highly illegal. It just set the "7 year reporting period" over. You will now have this on your report another 7 years -Send a dispute to the CRA DIRECTLY, NOT the collection agency, disputing the "dates" on the account. -If they fail to conduct a reasonable investigation, they are in violation, both the collection agency AND the CRA. Good Luck!
It depends on the CRA. Some CRA's use what they call a 'PLACED' date, which is similar to the OPEN date, but different since it reflects not when the account was opened, but when the account was placed. That is at least more correct than listing the PLACED date as the OPEN date. Unfortunately, for most CRA's the date which is most relevant, date of the delinquency ccommencing with the charge off, isn't reported on the reports which we can see. This is the date which the seven year reporting period is based on.
Are collection accounts ever supposed to be listed with a payment history below them? You have the date that they were "placed", then every month, from that date forward, can they put "CO" in the little circle representing that month? I have some collections that just put the info on there once.. then dont do anything beyond that. Then I have others that appear kind of like installment accounts.. with a payment history. Of course it is all negative history because they are a COLLECTION account. And they update every month. I have tried disputing these accounts. Some are several ( 4 ) years old. Yet in my "reasons for score being lower" it says because I missed payments on 5 accounts last month. 1) I currently dont have five open accounts 2) I havent had a late payment on ANYTHING in over a year... so I know that it must be these accounts. I CO accounts that are doing the same thing. How to get rid of them?
Har--all of my collections accounts are doing this. I asked a TU representative at length, if a collections account could legitimately be listed as an installment account, and was told flatly:"Yes, it doesn't matter-what matters is that you have unpaid accounts") Here's a question: Does each collection account ("open 1 month, close, sold off") count to lower my score? One of my accounts has sold off 3 times (working on it's 4th, now..As I see it, each one is going to stay on my credit report for 7 years, even though they each stem from one account. UHG! uptomyneck in xxxx
There is ONLY ONE DATE. Each time the account is sold DOES NOT change this. The original creditor has the only date of concern. If they list anything other than this date, they have reaged the account. Send a dispute, then sue each and every one
