Jump to content

SandwichFace

Should I Start the 1-2 Punch on 5yr old Portfolio Collections Account - Worried About Re-Aging?

Recommended Posts

Haven't been around here in a while. Is the 1-2 Punch still my best option?

  • 5 year old collections account from Portfolio
  • Original account was CapOne Credit card, $3,500
  • Want to buy a house this year and this is the last negative I have
  • I'm concerned about possibly re-aging the account when I send a letter

 

I'm looking at doing the 1-2 punch but it's been so long I'm wondering if that's still as effective? Should I start with the DV letter to Portfolio? Are there any current example DV letters?

 

Thanks!

Share this post


Link to post
Share on other sites

The concern about reaging is misguided.  What IS a real concern is that the update to the data may tank the score because it will show as a recent update even though the status has not changed nor did the DOFMD. 

 

I am not a fan of cut and paste letters.  IMO, they should always be tailored to the specifics of the individual consumer's situation.  Generic crap begets generic crap, and most CNP letters are just that...generic crap. 

 

Other guidance may be available if you indicate how the matter is reporting (as it appears on actual paper reports from the four major bureaus). 

Share this post


Link to post
Share on other sites
4 hours ago, SandwichFace said:

Haven't been around here in a while. Is the 1-2 Punch still my best option?

  • 5 year old collections account from Portfolio
  • Original account was CapOne Credit card, $3,500
  • Want to buy a house this year and this is the last negative I have
  • I'm concerned about possibly re-aging the account when I send a letter

 

I'm looking at doing the 1-2 punch but it's been so long I'm wondering if that's still as effective? Should I start with the DV letter to Portfolio? Are there any current example DV letters?

 

Thanks!

As an FYI- Portfolio is one of the collection agencies where they delete the tradeline if you pay or settle the account within 30 days. The DOFD must be at least 2 years. 

Share this post


Link to post
Share on other sites
56 minutes ago, SandwichFace said:

It says: Date Updated: 06/08/2018, which seems to be relatively recent.

What is the DOFD provided by the original creditor?

Share this post


Link to post
Share on other sites

DOFD was 3/2014. The report lists it as On Record Until 10/2020. It list the Date Opene as 06/2017, I'm assuming that's maybe when Portfolio bought the original debt and created the collections account.

Share this post


Link to post
Share on other sites

Date updated is nothing more than the last time they did any manner of update.  It is NOT reaging nor an indicia of reaging having occurred.  Date opened is, as you properly surmised, nothing more than the date they opened the matter in THEIR office. 

 

The fact that you indicate an on-record-until date of 2020 says there has been no reaging except and unless the date of first major delinquency from which the account was never again current and usable was prior to 2013.  In this case, you are getting a discount since their date is actually less than seven years and six months from the default occurrence...

Share this post


Link to post
Share on other sites

Ohio. I know it's passed the SOL, they told me that much in a letter. My concern is about the date it will come off of my credit report. Right now it's scheduled to come off in 12/2020 but I'd like to do some work and get it removed earlier.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Today's Birthdays

    1. sk8erchick
      sk8erchick
      Age: 40
    2. Kibure
      Kibure
      Age: 39
  • Member Statistics

    • Total Members
      176,090
    • Most Online
      1,528

    Newest Member
    Andy312
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×

Important Information

Guidelines