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12 yr old debt back in collections?


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Hey everyone,

 

I'm hoping someone here can steer me in the right direction with this situation. I have a debt from 2008 for Synchrony Bank from when I was in college. I made the unfortunate mistake of opening an Amazon credit card to buy books. It went into collections and was on my credit score for a while, and then fell off. However, I now see that Portfolio Recovery Services has placed that old debt back onto my credit report as a derogatory mark. I'm actively trying to improve my score and need some advice on what to do. Are they allowed to post that 12 yr old debt onto my report? Do I sent a request for proof of debt letter? Do I call one of the credit reporting agencies?

 

If you have an additional question, please let me know and I'll gladly answer them. I'm very determined to improve my score and any help you can give would be appreciated. 

Edited by itsLoNC
Edit: typos
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1 hour ago, Bluesie58 said:

Was the account opened in 2008 or charged off in 2008? 

This is important.  

 

I think the maximum amount of time they can keep an account on the credit report is about 7 years past charge-off, or about 7.5 years past the last date of default.  

 

So if the charge-off was 2008, you need to contact the CRAs to dispute this trade line.  If they confirm the trade line, you have a law suit against the creditor on the FCRA.

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2 hours ago, Bluesie58 said:

Was the account opened in 2008 or charged off in 2008? 

 

1 hour ago, BrokeBob said:

This is important.  

 

I think the maximum amount of time they can keep an account on the credit report is about 7 years past charge-off, or about 7.5 years past the last date of default.  

 

So if the charge-off was 2008, you need to contact the CRAs to dispute this trade line.  If they confirm the trade line, you have a law suit against the creditor on the FCRA.

 

Thanks for the responses. From my memory I believe the account was charged off in 2008 because I know I opened the account before that. I need to confirm that the charge off was in 2008. I would have to contact Synchrony for that correct? Or can I contact one of the CRAs?

Edited by itsLoNC
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1 hour ago, BrokeBob said:

This is important.  

 

I think the maximum amount of time they can keep an account on the credit report is about 7 years past charge-off, or about 7.5 years past the last date of default.  

 

So if the charge-off was 2008, you need to contact the CRAs to dispute this trade line.  If they confirm the trade line, you have a law suit against the creditor on the FCRA.

Considering Portfolio is a JDB, verifying an obsolete account would also be an FDCPA violation along with possible state consumer law violations.  

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There have been several recent posters in the past few days on reddit with Portfolio and Jefferson putting 10 year plus charge off data on reports.  
 

Following closely since I had some from 13 years ago.

 

If you have any old reports those would be useful.  I have my old ones which show the original trade lines up to the month they fell off my reports.

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4 hours ago, itsLoNC said:

 

 

Thanks for the responses. From my memory I believe the account was charged off in 2008 because I know I opened the account before that. I need to confirm that the charge off was in 2008. I would have to contact Synchrony for that correct? Or can I contact one of the CRAs?

You could pull your file folder that has the copies of both the card statements as well as the folder with your banking records...

 

If you are not keeping such things, you should use this as the impetus to begin doing so...

 

The older copies of your credit reports will ALSO reflect the reporting from the original creditors.

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Thank you everyone for the responses. I'm going to do some digging tomorrow and I'll update once I find out some things. I'm also gonna look on Reddit just so I can see the other postings about Portfolio, they seem like a terrible company.

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Hi everyone,

I've been trying to contact CRAs and its driving me crazy. I have a couple questions about what I should do..

I unfortunately do not have a file folder, I was young when this all happened and didn't keep documentation of this account. I also don't have older copies of my credit report. 

At this point I believe my best bet is to file a dispute with CRAs, my question is do I file a dispute with just one or do I need to do more. Would it be recommended for me to send a letting to Portfolio asking for proof of the debt or should I just file a despute?

I just want to make sure I'm going about this the correct way.

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1 hour ago, itsLoNC said:

Hi everyone,

I've been trying to contact CRAs and its driving me crazy. I have a couple questions about what I should do..

I unfortunately do not have a file folder, I was young when this all happened and didn't keep documentation of this account. I also don't have older copies of my credit report. 

At this point I believe my best bet is to file a dispute with CRAs, my question is do I file a dispute with just one or do I need to do more. Would it be recommended for me to send a letting to Portfolio asking for proof of the debt or should I just file a despute?

I just want to make sure I'm going about this the correct way.

are you using PAPER copies of your four major consumer credit reports?

 

If not, don't do anything until you know exactly how the tradeline is reporting:

Order paper reports from the big four

https://creditboards.com/forums/index.php?/topic/590506-ordering-paper-credit-reports-information-inside/&tab=comments#comment-5623246

 & #4

IDS: https://www.innovis.com/personal/creditReport

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The FIRST thing to be doing is READ until your eyes are bleeding...then read some more. 

 

Rushing into a dispute without understanding WHAT you are doing and WHY you are doing it, you run a substantial risk of screwing things up.  Rushing is how people end up sending crappy cut and paste letters that have been useless since before your account was allegedly defaulted and it is what leads people to online disputes. 

 

You WANT paper reports from all four bureaus before you send of the very first tailored letter.  Ensure that it is tailored.  Generic crap begets generic crap.

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I'm able, through annualcreditreports.com, to view my full credit report online for Equifax, TransUnion and Experian.. I did however, have to request a report from Innovis. 

 

Equifax has ("Closed') listed next to the mark on my report from Portfolio and says I have no accounts in collections ?

However the account IS listed under the collections section for TransUnion and Experian have it listed.

 

Edit: I spoke to someone at Synchrony and the had to refer me to their collections department, to which someone told me that the account was closed on April 3, 2018 and then sold to another collections agency (Portfolio) in Feb 2019..

Edited by itsLoNC
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NEVER use an online report for the purpose of preparing a WRITTEN dispute.  There is a very limited exception for when online disputes might be warranted, but even THOSE are predicated only upon what is on a paper report. 

 

Even a report from the bureau itself that you view online has been contorted and distorted to fit into the online viewing narrative.  Disputing from that document means you are not only using inaccurate displays of the information but ALSO giving an extra period of time in which to complete the investigation.

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53 minutes ago, centex said:

NEVER use an online report for the purpose of preparing a WRITTEN dispute.  There is a very limited exception for when online disputes might be warranted, but even THOSE are predicated only upon what is on a paper report. 

 

Even a report from the bureau itself that you view online has been contorted and distorted to fit into the online viewing narrative.  Disputing from that document means you are not only using inaccurate displays of the information but ALSO giving an extra period of time in which to complete the investigation.

I'm assuming what I obtained was a digital version of a paper report, since all 3 reports about 29+ pages each. However I will also request a paper copy from each reporting agency.

Edited by itsLoNC
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9 hours ago, legaleagle2012 said:

There's a big discrepancy here .... you said the account was charged off in 2008. How could it remain open until 2018 and be sold in 2019? Makes zero sense.

I agree with you. On my credit report, when I look at the account in collections is says "08 Synchrony Bank" so I was trying to call around and get more information. The last person I spoke to gave me that info of it being in collections until 2018, closed and then sold to portfolio in 2019. This is kind of a mess.

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1 hour ago, itsLoNC said:

I agree with you. On my credit report, when I look at the account in collections is says "08 Synchrony Bank" so I was trying to call around and get more information. The last person I spoke to gave me that info of it being in collections until 2018, closed and then sold to portfolio in 2019. This is kind of a mess.

"08 Synchrony" would not be a date.  It is a portfolio/account name.  It is batching from the sale. 

 

You want paper reports to confirm DATES, not labels.

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Keep in mind Synchrony has arbitration in their agreements, and it covers any dispute at any time. PRA will not spend 5-6K in initial fees to defend a trade line. When they refuse to arbitrate, which they always do, you can threaten them with a petition to compel arbitration in federal court. Believe me, that gets their attention. It usually gets their checkbook to open, too. 

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1 hour ago, legaleagle2012 said:

Keep in mind Synchrony has arbitration in their agreements, and it covers any dispute at any time. PRA will not spend 5-6K in initial fees to defend a trade line. When they refuse to arbitrate, which they always do, you can threaten them with a petition to compel arbitration in federal court. Believe me, that gets their attention. It usually gets their checkbook to open, too. 


I can confirm that.  Just beat Stinkrony to a bloody pulp.  Damned sure does feel good.  😀

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On 8/4/2020 at 7:18 PM, itsLoNC said:

Thank you everyone for the responses. I'm going to do some digging tomorrow and I'll update once I find out some things. I'm also gonna look on Reddit just so I can see the other postings about Portfolio, they seem like a terrible company.

 

 

They are, they are.

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On 8/9/2020 at 8:53 AM, PotO said:


I can confirm that.  Just beat Stinkrony to a bloody pulp.  Damned sure does feel good.  😀

 

On 8/9/2020 at 7:41 AM, legaleagle2012 said:

Keep in mind Synchrony has arbitration in their agreements, and it covers any dispute at any time. PRA will not spend 5-6K in initial fees to defend a trade line. When they refuse to arbitrate, which they always do, you can threaten them with a petition to compel arbitration in federal court. Believe me, that gets their attention. It usually gets their checkbook to open, too. 

 This.

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On 8/9/2020 at 8:53 AM, PotO said:


I can confirm that.  Just beat Stinkrony to a bloody pulp.  Damned sure does feel good.  😀

I'm new to this, would you be willing to tell me what you did? This is a little overwhelming for me and I want to make sure I don't make any mistakes.

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4 hours ago, itsLoNC said:

I'm new to this, would you be willing to tell me what you did? This is a little overwhelming for me and I want to make sure I don't make any mistakes.


What is your case against Synchrony?

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