Collection Agencies Changing "Open Dates" on Credit Report

[WhopperCat]

I racked up a lot of debt well over 5 years ago. That was during a time when I was lost and was on drugs and all that bad stuff. Since then I've been back in school and started getting my life back in order. There's no way I can pay some of the debt back, plus it's been racking up so much interest and changing hands so much I don't know even know where to start.

 

So I continuously monitor my credit report through experian, and I'll be graduating and getting a job shortly after the 7 year mark of the debts so I'm hoping that by then I will be able to tackle these negative marks one by one and get them removed.

 

But I noticed that these collection agencies have been reporting the wrong Opening Date for all these balances, making it seem like the debt is new. Some of these dates are just absurd!

 

How do I go about this? Is it easy to get these records off now since according to these false open dates I have a lot more years of it being on my credit report?

 

Just so I know, they can't do this right? I mean if I write to the credit agencies and ask for validation, they have to prove the date that I opened the account? I don't even know what half of these accounts are since they've changed hands so much. In order for these dates to be correct, I must have either signed a new agreement with them to pay or I must have agreed over the phone to pay or have sent in a payment right? I havn't been in touch with any of them!

 

Is it possible that the collection agency will fake a date again? Is it likely?

[gdtobefree]

What they are reporting is probably the date they aquired the account through either assignment or sale.

 

You are correct they cannot do this.

 

You can dispute them and if they come back verified then you will have to send them a DV letter so they can hang themselves even further.

[pryan67]

actually, they CAN do that...it's an accurate statement...that IS the date that the account was opened in their office...

[WhopperCat]

What they are reporting is probably the date they aquired the account through either assignment or sale.

 

You are correct they cannot do this.

 

You can dispute them and if they come back verified then you will have to send them a DV letter so they can hang themselves even further.

 

 

What's a DV letter?

[breeze]

actually, they CAN do that...it's an accurate statement...that IS the date that the account was opened in their office...

 

But they can't keep reporting it past the 7 year limit.

[breeze]

glossary

 

http://creditboards.com/forums/index.php?showtopic=32

[pryan67]

actually, they CAN do that...it's an accurate statement...that IS the date that the account was opened in their office...

 

But they can't keep reporting it past the 7 year limit.

 

 

correct as always

 

 

but, for the benefit of the OP and others:

 

 

remember that the open date has NOTHING to do with the date the item will fall off your report...

[ImpactRox]

OK, but here's the real question:

 

On Equifax, there's a line-item for "date of first delinquency," so even though an account may be listed as opened 10/2008, the DOFD can be listed as 10/2004. That seems to meet FCRA requirements.

 

But on Experian, there is no such line-item. There's only a "Date Opened" line-item. So if that's listed as 10/2008 when, in fact, the DOFD is 10/2004, FICO is going to score it much more harshly, thinking that it's a collection account less than a year old.

 

I believe the FCRA would require, in this case, the CA to list the "Date Opened" as the DOFD, since not doing so would cause a much larger drop in credit score, thus violating FCRA?

[pryan67]

EXP just isn't showing that information...but you're right...FICO will score it badly, regardless of whether or not the DOFD exists...

 

that's why CAs report it inaccurately...to hurt your score as much as possible...

 

but if they were to report it accurately (and I can count on the fingers of one thumb how many times a CA reports accurately), the date opened, although it will hurt FICO, can be reported as the date they receive the account