BOA CC sold to Collection agency then resold- now shows as recent collection

[tlamb1924]

Hi,

 

I have an old BOA card that defaulted in 2008- it was sold to a collection agency- FIC i think was the name . Then it was resold in 2012 to Calvary Portfolio and is showing as a new account instead of the 2008 date. How do i go about clearing this up because I can wait for it to drop off if the actual default date gets listed.

[tlamb1924]

<bump>

 

WHYCHAT any suggestions?

[LKH]

ttt

[moosetracks]

Hi,

 

I have an old BOA card that defaulted in 2008- it was sold to a collection agency- FIC i think was the name . Then it was resold in 2012 to Calvary Portfolio and is showing as a new account instead of the 2008 date. How do i go about clearing this up because I can wait for it to drop off if the actual default date gets listed.

 

The JDB has to work off the original DOFD of the OC for reporting purposes, they usually show open date as date they receive it, it would be a violation of the FCRA to re age the debt to post it to ones credit report. The reporting time is a maximum of 7.5 yrs from the DOFD that led to the CO.

 

Adding: They can also update it every month if they want, to FICO this would appear as a new collection...

Edited March 28, 2014 by gdale6

[tlamb1924]

So what your saying is, once the OC date expires this debt should be removed, but that its ok for them to show a 2012 open date on my credit reports?

[breeze]

Have you sent them a DV letter? Might look at the flow chart in the pinned threads, showing the dispute process.

[funkiehouse]

Can you post your report details so we can help you a little more? Just block out any personal info.

[tlamb1924]

not yet- Im disputing some items online- WHICH I PROB SHOULDVE DONE BY MAIL- Nevertheless, I will get that letter out.

 

Thanks

[tlamb1924]

 

Hi,

 

I have an old BOA card that defaulted in 2008- it was sold to a collection agency- FIC i think was the name . Then it was resold in 2012 to Calvary Portfolio and is showing as a new account instead of the 2008 date. How do i go about clearing this up because I can wait for it to drop off if the actual default date gets listed.

 

The JDB has to work off the original DOFD of the OC for reporting purposes, they usually show open date as date they receive it, it would be a violation of the FCRA to re age the debt to post it to ones credit report. The reporting time is a maximum of 7.5 yrs from the DOFD that led to the CO.

 

Adding: They can also update it every month if they want, to FICO this would appear as a new collection...

 

It seems this is exactly what they're doing- it's scheduled to come off in 2016 which is correct because I defAulted in 2009-

They sent me a letter wanted to settle - do you think I'm in a position to ask for PFD?

[funkiehouse]

 

 

Hi,

 

I have an old BOA card that defaulted in 2008- it was sold to a collection agency- FIC i think was the name . Then it was resold in 2012 to Calvary Portfolio and is showing as a new account instead of the 2008 date. How do i go about clearing this up because I can wait for it to drop off if the actual default date gets listed.

 

The JDB has to work off the original DOFD of the OC for reporting purposes, they usually show open date as date they receive it, it would be a violation of the FCRA to re age the debt to post it to ones credit report. The reporting time is a maximum of 7.5 yrs from the DOFD that led to the CO.

 

Adding: They can also update it every month if they want, to FICO this would appear as a new collection...

 

It seems this is exactly what they're doing- it's scheduled to come off in 2016 which is correct because I defAulted in 2009-

They sent me a letter wanted to settle - do you think I'm in a position to ask for PFD?

 

 

Before you move towards a PFD, figure out your SOL (What state are you in?) and the DOFD. We don't have enough info to suggest the next step. It sounds like you should be close or past SOL in most states but we need to make sure before you do anything.

[tlamb1924]

 

 

 

Hi,

 

I have an old BOA card that defaulted in 2008- it was sold to a collection agency- FIC i think was the name . Then it was resold in 2012 to Calvary Portfolio and is showing as a new account instead of the 2008 date. How do i go about clearing this up because I can wait for it to drop off if the actual default date gets listed.

 

The JDB has to work off the original DOFD of the OC for reporting purposes, they usually show open date as date they receive it, it would be a violation of the FCRA to re age the debt to post it to ones credit report. The reporting time is a maximum of 7.5 yrs from the DOFD that led to the CO.

 

Adding: They can also update it every month if they want, to FICO this would appear as a new collection...

 

It seems this is exactly what they're doing- it's scheduled to come off in 2016 which is correct because I defAulted in 2009-

They sent me a letter wanted to settle - do you think I'm in a position to ask for PFD?

 

 

Before you move towards a PFD, figure out your SOL (What state are you in?) and the DOFD. We don't have enough info to suggest the next step. It sounds like you should be close or past SOL in most states but we need to make sure before you do anything.

 

 

I relocated to GA- the account was originally opened in NJ with BOA- I read that the SOL for CC's in NJ is 6 years. Is that from the opened date or the discharged date?

[funkiehouse]

Your DOFD is the month that you fell 30 days late, which then lead up to the CO (DOMD).

 

It looks like it's 6 years for both GA (Hill v. AMEX) and NJ. GA would apply for you if you live there.

 

You need to look at the hard copy of your reports and find the DOFD and look at the payment history to see if the DOFD makes sense. Compare the two.

 

So for example, if your DOFD is March 2008 you would be past SOL April 2014 (I say April just to be safe).

Edited March 31, 2014 by funkiehouse

[tlamb1924]

PRINTING EXPERIAN RIGHT NOW- THANKS

 

Your DOFD is the month that you fall 30 days late after the last payment you made - which then lead up to the CO (DOMD).

 

It looks like it's 6 years for both GA (Hill v. AMEX) and NJ. GA would apply for you if you live there.

 

You need to look at the hard copy of your reports and find the DOFD and look at the payment history to see if the DOFD makes sense. Compare the two.

 

So if your DOFD is March 2008 you would be past SOL April 2014 (I say April just to be safe).

 

Printing EX report right now- thank You

[lucky4]

Cavalry loves to poison reports by updating credit reports multiple times per month and occasionally pulling hard reports. They also like to assign accounts to CAs that use unfriendly tactics. A family member has had Cavalry pull a hard report on one day and then have its assigned CA pull a hard report the following day.

 

Although many have had success with the BBB and CFPB in getting Cavalry to cave in and delete accounts for which it has little (or no ) supporting docs, Cavalry also owns legit accounts and will assign these to legit law firms for filing suit.

 

In our experience, Cavalry has been far worse than other JDBs in dealing with and depending on the SOL and the collect-ability of the account in question, I would tread carefully.

[tlamb1924]

Cavalry loves to poison reports by updating credit reports multiple times per month and occasionally pulling hard reports. They also like to assign accounts to CAs that use unfriendly tactics. A family member has had Cavalry pull a hard report on one day and then have its assigned CA pull a hard report the following day.

 

Although many have had success with the BBB and CFPB in getting Cavalry to cave in and delete accounts for which it has little (or no ) supporting docs, Cavalry also owns legit accounts and will assign these to legit law firms for filing suit.

 

In our experience, Cavalry has been far worse than other JDBs in dealing with and depending on the SOL and the collect-ability of the account in question, I would tread carefully.

 

I actually received a letter from them last week asking for a settlement, at the bottom is says- They can not sue me due to the length of the account. I have noticed they do pull my credit and i wasnt sure if thats legal or not. I really wish this would just go away.

[funkiehouse]

Was it a hard or soft pull? Collections is considered a permissible purpose to pull your reports. I really have a problem with CAs doing a hard pull when they know it's past SOL. I would send a FOAD letter since it seams to be past SOL.

[tlamb1924]

Yea im going to get that letter out today!! Thanks funkiehouse

[funkiehouse]

I sent you a PM.