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I had some old accounts that were past due about 4yrs ago. I hit a hardship in my life that I was not able to keep payment on the accounts. From there most of the accounts either went to a collections agency or an attorney. Last year I reviewed my credit report and it showed the original lender with the original account opened date which was about 4yrs ago. I just recently reviewed my credit report again but now the open dates on the accounts have changed along with the names of the orginal lender. It looks like they were transfered over to the collections agencies. The collection agencies went ahead and changed the account open date to a recent date in which now makes the bad mark on my credit report take longer to fall off. Originally 4yrs has passed and I thought I would have 3yrs to go for everything to fall off my report and start a new. But now it looks like the bad past due account marks will remain another 7 yrs. Can they do that? Please if anyone can help with answers. Thanks

2007-05-29 16:59:08 · 11 answers · asked by Anonymous in Business & Finance Credit

11 answers

A collection agency cannot re-age the debt and make it report longer than the original obsolescence date.

But as for the open date the collector is showing --

Generally the date the collection agency shows as "date opened" is actually the date they either purchased the account or it was assigned to them.
That date has nothing to do with the obsolescence date.

Your reports should also list the date that trade line is expected to be removed. That date should match the original creditors date of removal.

If the removal date does not match - then they have re-aged it.

If your reports do not show a removal date, for some reason, contact the CRA's and ask them when the obsolescence date is on that trade line. Be sure to tell them that you are NOT disputing anything at the moment, that the call is for information ONLY. Then ask them if they would be kind enough to mail you that information.

If the collection agency had re-aged the account, dispute it with the CRA's.
If the collection agency verifys it, file complaints with the FTC, BBB, your AG and the collectors AG.
Then re-dispute with the CRA's.
If it is verified again, then sue.

Be sure to create a paper trail on "everything".
I'm sure you could probably sue without trying to correct the problem or create a paper trail. But, your chances of winning would be reduced.
If you create a strong paper trail proving that you had done as much as you can to correct the problem, but the problem still exists, your chances of winning a suit go up dramatically.

You might click on my profile and do some reading in the links I have provided to the FDCPA and FCRA.

2007-05-29 21:26:30 · answer #1 · answered by echo 7 · 0 0

yes they can.

When an original creditor sells a dept to another agency, they can change the agreement. Don't worrie this may be a good thing.

Let's say that the dept was for $1000 but then new agency wants $1500. This is simply a negoiating tactic. They may have baught the dept for as little as $200 so thier goal is to make money. even though you tecnically owe them what ever fribbilis amunt alowd by law, they may settle for $600. Once the dept is paid ensure they mark it in your credit report.

At this point it wil remain on your score for no more than 7 years, and it will be listed as a charge off. As far as the original creditor is concerned they are just happy to get any money from the dept and pawn off thier problem.

The only thing that may happen is if you owe a compny 1500 and they settle for 600. They can report to the IRS that you made an additional $900 for the year. This is rare, but they can do it.

Don't let this get you down. Life sucks and this is something we all have to deal with.

2007-06-05 15:38:02 · answer #2 · answered by Anonymous · 0 3

a collection agency can forward an account to another agency for many different reasons- it is called a forwarded account- this can be, like i said for lots of things- if you live in a different area then the original agency, if the forward agency has different amounts they proceed on, if the agency has a different licesnce then the original agency ect..

the open date is the date the account is listed with the agency, the first delinquency date is the date the account was actually incurred. The 7 year statute is pulled from the delinquency date, not the open date, so regardless of how many times the account is forwarded or moved from agency to agency the date that your statute is pulled from will always remain the same.

2007-06-01 05:54:15 · answer #3 · answered by usmcwife 1 · 0 0

I'm not sure if they can do that. Call them and ask them what you need to do to get it fixed. If you can, set up a payment schedule to pay off all debt that went to collections. It will help your credit score. You can fix alot of your credit report yourself, just call them and make them an offer.

2007-06-06 11:08:53 · answer #4 · answered by jondog 1 · 0 0

For Finance and credit solutions I recommend this site where you can find all the solutions. http://INSURANCEANDFINANCETIPS.INFO/index.html?src=5YAwkrcuQT001

RE :Can a collection agency change an open date on a past due account?
I had some old accounts that were past due about 4yrs ago. I hit a hardship in my life that I was not able to keep payment on the accounts. From there most of the accounts either went to a collections agency or an attorney. Last year I reviewed my credit report and it showed the original lender with the original account opened date which was about 4yrs ago. I just recently reviewed my credit report again but now the open dates on the accounts have changed along with the names of the orginal lender. It looks like they were transfered over to the collections agencies. The collection agencies went ahead and changed the account open date to a recent date in which now makes the bad mark on my credit report take longer to fall off. Originally 4yrs has passed and I thought I would have 3yrs to go for everything to fall off my report and start a new. But now it looks like the bad past due account marks will remain another 7 yrs. Can they do that? Please if anyone can help with answers. Thanks
Follow 10 answers

2017-04-04 22:40:00 · answer #5 · answered by Alfredo 6 · 0 0

No, that is called "Back Dating" and you can sue them for 1000 dollars per credit agencie, per account. Talk to an attorney about it, it can clean up your credit, and put some extra cash in your pocket.

2007-05-29 17:01:42 · answer #6 · answered by eldeeder 3 · 1 0

No they can't. It's a FDCPA violation. Call them on the carpet.

What they can do is sue you, and they will likely win. However with the FDCPA violation you should be in good shape. I'd contact your State's AG's office divison of consumer affairs, to ask how to procede.

2007-05-29 17:08:47 · answer #7 · answered by Zzyzx 4 · 1 0

No, they cannot change the origination date of an item.

2007-06-05 16:58:03 · answer #8 · answered by Anonymous · 0 0

I think credit card companies can(and Do) anything they want to.Basically they are unregulated.

2007-06-05 15:39:23 · answer #9 · answered by Happy 2 · 0 0

yes if you aren't careful they can change things so they are on your record for many years.

2007-06-05 16:38:24 · answer #10 · answered by pelican228 2 · 0 0

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