Collection Angency Buying Old Accts?

Submitted by Anonymous (not verified) on Wed, 05/28/2008 - 10:13

Hi, Iam A new Member here with a Few questions, I dont know if this is the right forum to post my query. On my Credit Reports I have a few different Collection Company's that have bought some of my old CC dedts that have had no activity on them since 1999- 2001 and Reporting them on some of My CRs as dedts in 2003 or 2006 ever is this legal can they report the date as the date they bought the dedt instead on the date the dedt became delinquent ? Thanks

They should come off of the credit report at the same time the original creditors listings come off. If they don't then you have a re-aging problem, and just need to dispute to the credit reporting agency that these accounts where due to expire and to remove them.

Wed, 05/28/2008 - 10:24 Permalink

This may be a legitimate reporting depending on your situation. If those credit card companies, for whatever reason, didn't discharge your debts until 2003 and 2006 then they may be able to report them for 7 years form the date of discharge. You may need to look a little further into this and request a debt validation letter from them to see how your credit card companies were reporting the debts. One of the moderators may be around soon and provide some better advice as well.

Best of luck

Wed, 05/28/2008 - 14:05 Permalink

Do not make paymetn to these scum bags. If you do it can reset the debt. Also if you go to equifax's website go to online dispute it will show you your credit report and tell you when the debt is due to fall off your credit report. The OC and CA should match. Get a hard copy of all your reports to make sure if they do try to reage your account you have proof.

Wed, 05/28/2008 - 19:23 Permalink

Okay, First things first. Look up the SOL for debt in your state. ANy debt that is older than the SOL send a FOAD letter. Second, the negative listings will remain on your CR until 7 years after they were filed. Now, If you do make any payments you reset the SOL so make sure you check those laws!

The debt that isnt over the SOL should have a DV letter sent to the CAs if you can afford to pay them or start a payment plan. If you cant afford to do anything lay low until you can or the SOL comes around.

Thu, 05/29/2008 - 04:32 Permalink

I think that you should send a debt validation request to check whether you owe the debt. On getting reply, try to come to an agreement with them for a repayment plan if you owe the debt. But make sure you agree only to the repayment plan you afford to pay.

Thu, 05/29/2008 - 12:48 Permalink
Anonymous (not verified)

I'm going throught this right now. Over a 3 month time period< HSBC Bank has report different information. I've carefully found every little thing they have done includingbut not limited to, not disclosing the 1st del. the 2nd del. DOLA, when the account was origionally oped, or closed or chared off. Posting a late payment history and balance history. They even have the nerve to post a month of one year and another month of the following year and say both months are 30 days late. Over about a 7 month time frame the fees/balance go from 1st month $1, 2nd $3, 3rd $33, 4th $36, 5th $15, 6th $13. I'm not kidding. They post different owed balances on 4 different reports within a 3 month time frame. They all come out to the $698 final balance that they now post. I don't know what the actual origional balance is except I'm certain its around $330-340. I do know that this account had been opened around 12-2001 Anyway......... Then, after making up this magical history, ending with date 08-07, they post that it has been sold to another lender and it is now CHARGED OFF. That is on the Experian report. Where do I find this account since they last updated on Experian on 10-07. I find that the new lender on TransUnion is..................? Yup, Its HSBC Bank with the exact same account number, business name, street/PO Box address and zip code. EXACTLY THE SAME. OK, So now they, TransUnion, have posted that the account is paid and at the top of this account, next to "Pay Status", its reporting, <Payment> and updated on 09-07. Yes, they posted it paid a full month before it was. I guess they were ESPing that a payment was coming. At the bottom of this posting on the Experian report it shows it will come off in 10-2013. Yes, on the Experan report it says that. The most recent TransUinon report now shows this account as "Date Closed" 09-06,"Date Paid" 09-07 and "Pay Status" Payment After Charge Off/Collections. and estimated to come off in the month of 08-2013. Oh, did I mention, I never made a payment to them? Nope, I didn't. I think I also forgot to mention that at the bottom of the Experian report on all the "updated versions", 4 in 3 months ........... they have added the following statement." Between Mar 2007 and Aug 2007, your credit linit/high balance was $335.00" Have I confused you yet? I'm still confused but more than anything else, I'm Pissed. OK, so I filed a dispute on this account. Experian came back "VERIFIED"! TransUnion came back with the comment, under Remarks, "ACCOUNT INFORMATION DISPUTED BY CONSUMER" !
I'm thinking.............Yes, I disputed this whats the result of the investigation ??? Nothing else that I can see. and then I saw the only other change. "Date placed for collection" 11-2006. Transunion posts, Estimated date that this item will be removed 09/2012.
So whats the next step? I did write up a letter that basically says, GET THIS PEACE OF **** OFF MY REPORT, OR ELSE.
Should I send a debt validation to the CA's, or do I write or call Experian and Transunion, when these items have already come back as verified TU on 02/2009 and Experian on 09/2007. Can I do something to this CA them from a legal stand point, for reporting bull faced lies?
Even if the CRA's were to delete these items on my report, I would still choose to pursue action against them.

Mon, 03/16/2009 - 03:05 Permalink

I think that you should send a debt validation letter to the creditors because only a proper debt validation can help you to identify the origin of the debt. When you ask for debt validation, the creditor must send you the details of the bills outstanding and the bills paid till date within 30 days from the date you send the debt validation letter.

Mon, 03/16/2009 - 05:14 Permalink