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fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 4246



123 Magic Points

 
Posted on Thu Nov 20, 2008 4:45 pm  

Still a bunch of crap. I still would think that there has got to be a SOL on the time they have to take this in front of the judge. Seems to me it has been too long already. I think I remember you were going to ask the forum. Did you? If so what was the response? If you did not get one then I would call the atty or courthouse and see if there is one. You could get it dismissed. There is a law out there for the debtor about not threatening legal action unless they intend to persue it isn't there?
goodnatured



Joined: 03 Nov 2007
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Posts: 3931



450 Magic Points

 
Posted on Wed Nov 26, 2008 2:12 pm  

They are not allowed by law to threaten you with legal action if they have not intention of pursuing it. But you never really know if they do intend on doing it or not. How can you tell? I think they get a person in a bind when they make these threats, people panic and react and start paying on the bill starting the statute of limitations all over again.
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fireyone



Joined: 26 Feb 2008
fireyone's page
Posts: 4246



123 Magic Points

 
Posted on Thu Nov 27, 2008 12:30 am  

They are known to not follow any rules. A lot of these places violate the fair debt collectios act and never get in any trouble for it. People need to start reporting them. I just do not see how it is fair to threaten a lawsuit if they know they can not or really do not have a case. I think you hit the nail on the head GN. I think thats exactly why they do it (payment to restart SOL).
mike.lee
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Subject: re-aging
 
Posted on Thu Nov 27, 2008 7:34 am  

Re-aging sounds like fraud.
anthony

anthony

Joined: 31 Jul 2006
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Posts: 516



13604 Magic Points

 
Posted on Tue Dec 02, 2008 5:26 am  

Hi Mike
Reaging is not illegal and there are Federal Government guidelines regarding re-aging of accounts. These guidelines are set up by Federal Financial institution Exam Council which provides recommendations regarding the control over the Financial institutions across US. As per FFIEC guidelines regarding credit card accounts, reaging can take place only if the following conditions are satisfied:
- The debtor must agree to reage the account and he should have the ability to repay the outstanding debt
- The credit account should be at least nine months old and the account is not reaged within the last 12 months.
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Anthony Marx

A positive attitude is not achieved by turning a blind eye to the negative, but rather by responding to every situation in the most positive way possible.
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Posted on Tue Dec 02, 2008 5:38 am  

What is account reaging? Can anybody explain it to me in details please. Will it help to improve my credit score?
carol

carol

Joined: 27 Jun 2006
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Posts: 1299
Location: Los Angeles, California


30054 Magic Points

 
Posted on Tue Dec 02, 2008 5:53 am  

Reaging of your credit account means that the creditor sets your delinquent account into current status. This means that if you are delinquent for four months and you make the creditor agree to re-age your account, the four months late mark will disappear from your credit report and your credit score will improve. But there are Federal guidelines regarding reaging of your account and most creditors generally agree to reage your account. However, if you sign up for a debt management programs, creditors generally agree to reage.
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Mila
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Subject: Reaging
 
Posted on Tue Apr 06, 2010 9:05 am  

I missed a few payments on one credit card but now it's down to 0 balance. Is it too late to ask them to reage my account? It will help me out alot. I also have 52 credit inquiries (will go into another forum for that matter).
Aaron

Aaron

Joined: 08 Feb 2010
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Posts: 2632



48565 Magic Points

Subject: reaging
 
Posted on Wed Apr 07, 2010 7:40 am  

Hi Mila,

Can you tell me whether or not you have checked your credit report? If your account is showing zero balance on credit report, you can use your last payment receipt to request the credit bureaus to update the account balance. After that, you need to talk with the creditor that you are willing to pay. In this case, the creditors generally re ages the account. Thus, you can also talk to the creditor about the re aging of your account.

With re aging your any information on the late payments get removed. After you start paying, your payments history will help in the gradual increase of your credit score.

Hope this helps.

Regards,

Aaron
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BeeBee
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Subject: Re-aging, the bad kind.
 
Posted on Sat Apr 24, 2010 10:05 am  

Used to have truly horrid credit. The "why" of that is too long a story, but it was so bad that I just quit looking at it for years. Well, finally pulled it again a few years back and found a phone bill on it that wasn't mine. Called the OC, which I had used continuously both before that and after that, thinking they would fix this. Next thing I knew I was getting calls from a CA. Disputed it and got nowhere. Well, it was just a couple of years from the SOL, and I was moving so I blew it off. Couple of years later, I found it had been relisted by a new CA like it was a new account. Disputed with the bureaus and got nowhere yet again. Finally, just last year, I ran across a website like this one, linked to collection law and FTC sites, and filed a complaint with FTC. When I sent the letter with an actual complaint number and threat of a lawsuit to the credit bureau, they could not get it off of there fast enough. I'm glad it's over, but that stupid debt was on my credit for nearly 10 years thanks to shady CA. Pull copies regularly, and keep them as proof against this fraud.
Aaron

Aaron

Joined: 08 Feb 2010
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Posts: 2632



48565 Magic Points

Subject: reply
 
Posted on Fri May 14, 2010 9:51 am  

Hi BeeBee,

It's nice to hear that you could solve your problem. The worst part about wrong listings is that it hurts your credit without any fault of your's Evil or Very Mad

Thanks,

Aaron
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Alaye
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Subject: re-aging
 
Posted on Thu Jun 24, 2010 12:56 pm  

you guys mention re-aging as when the CA attempts to kep you inside the SOL. what happens when this is done. i have an account that i defaulted on around 2004-06 and the CA has my account opened in May 2010
Aaron

Aaron

Joined: 08 Feb 2010
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Posts: 2632



48565 Magic Points

Subject: reaging
 
Posted on Thu Jul 01, 2010 12:30 pm  

Hi Alaye,

This is illegal reaging. In reaging the collection agnecy changes the last payment date to a recent one. As a result it seems that the Statute of Limitations on the debt has still not expired. The collection agency is not supposed to do this.

Thanks,

Aaron
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aabarca
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Subject: question
 
Posted on Sat Jul 16, 2011 12:03 pm  

Can you re-age an account that has been charged off?
thenderson013
Guest






Subject: one missed payment
 
Posted on Thu Jan 26, 2012 9:11 pm  

How does one missed payment effect your credit score?

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