I have a charge-off with a last date reported in 2004, however when I check my TransUnion (only this one, neither Equifax or Experian report this) the charge-off has been purchased by a collection agency and this agency has created a new debt on my report and continues to re-date the last date reported for it. I have had no contact with this agency yet they just reported "action" for this year! Is this legal and and how do I fight it if its not?
2007-02-16 07:32:04 · 4 answers · asked by mOOnBurSt37 2 in Business & Finance ➔ Credit
Check THIS out
2007-02-16 07:41:53 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If you have not made a payment, or reaffirmed the debt, in writing, then the date of the charge off will not change. If it does, you need to dispute it, in writing, with the credit reporting agency. They will have the procedure for this on their website. Send any correspondence by certified mail, return receipt requested, so that you have proof that they received it.
2007-02-16 15:44:58 · answer #2 · answered by J.R. 6 · 0⤊ 0⤋
The last date reported has nothing to do with the 7-year credit clock. This is simply a notation of the last time that account was updated.
The date of last activity is the one you want to watch. It is illegal for collectors to change this date to any date later than the actual charge-off date. This does happen sometimes.
2007-02-16 15:38:12 · answer #3 · answered by Anonymous · 0⤊ 0⤋
No, the collection agency cannot refresh the debt, unless you've affirmed it in writing, or have made a payment on it.
Take a two pronged approach. Dispute it with the credit bureaus, and contact the collector directly telling them to remove the incorrect information. Also ask them for proof of debt. They are required to provide that to you if you ask.
2007-02-16 15:37:08 · answer #4 · answered by Uncle Pennybags 7 · 0⤊ 0⤋