In 1994 I had a debt with a local jewelry store, I live in a different state now I found out about this charge off just recently, since then I have been trying to contact that jewelry store, their phone is disconnected, Google local Business search shows their locations has “Space for leasing sign†no website or any other search results.
My understanding is, after 7 years charge off falls off from the credit report. I also know, charge off can be sold to somebody else to try to collect then the collection agency can sue for the debt till the SOL period is over. Once the period is over, the collection agency cannot sue unless you start the payments again
In my report it shows Date open 1994 and balance date 04/01/2010. I can't find out who is still reporting after 16 years and what can I do to fix this negative from my account??
Please help me..
charge off after 7 years
Hi fantoos,
The name of the company who now holds the debt should be listed against this account on your credit report. So, check out the name of the company who holds this debt. Balance date is the date on which the information furnisher had last reported to the credit bureaus about your account.
As far as I understand from your post, you didn't know about this charge-off till now, and thus you haven't made any payments on this account. Thus, the Statute of Limitations on this debt has expired. Moreover, the negative fall off after 7 years. Thus, you can file a dispute with the credit bureaus.
Send a dispute letter to the credit bureaus, along with the copy of your credit report, mentioning the date when the charge-off was first entered on your credit report. Send this letter through certified mail, requesting a return receipt.
Hope this helps.
Regards,
Aaron
Thank you very much for your reply.
I checked the name of the company and it's showing the same Jewlery store.
Date Opened: 9/1994
Balance Date:04/2010
Please advise based on SOL expired , do I need to file dispute to all three bureaus?
Once again, thank you for all the help
date opened is not the date of first delinquency. Do you know when this account went delinquent?
Are you looking at a hard copy of your credit report? it should say when the account is due to drop off. what does it say.
I never made any payment on this account so I’m assuming account went on delinquent same year which was 1994. I’m looking at the online version of the report and it is showing Date opened and Balance Date does not show when is due to drop off.
Negative shows the name of original creditor not the collection agency. They were a local retailer I have been trying to contact them, their phone is disconnected, location has “space for lease sign†Is it possible that they might have sold the debt to somebody else and they are still reporting it? Balance date is 04/2010.
Please advice, Can I file dispute based on Statue of Limitations expired on this debt??
No, SOL does not apply to credit reporting agencies. Which agency is this? you need to dispute it as obsolete with the CRA in writing. You want to send a letter to the CRA by certified mail.
Go to https://www.annualcreditreport.com/cra/index.jsp and get hard copies of all your reports. it is important to get hard copies of all your reports so you have an accurate picture. You have the right to get at least one free copy of all three reports each year. do this as well. you cannot get the straight info from online reports
Send a CMRRR letter to the tradeline listing exactly as it is shown. use the address on your report and see if the letter is delivered. The letter should dispute the debt as fraudulent. if you can find out the name of the collection agency i would report them to the AG. they would have to be lying on some of the paper work to get this in eOscar
Wow great advice, thank you very much :D
Hi Cinnamngrl
Ok, I was able to get the hard copies of all my reports. Here is what I discovered: All three have the same original creditor’s name and address, only one has phone number listed. Original creditors phone number is disconnected so I googled this newly discovered phone number and found Vengroff, Williams & Associates, Inc a collection agency .
Do I need to send letter to Original creditor first, so I can use undelivered letter as fraudulent debt or I can just dispute as an obsolete debt?
Please advice further and once again thanks you for all the help.
Send the letter to the CA but with the oc title as on your credit report. dispute with the CRA's as obsolete
how did you get your hard copy in a few hours?
Per your advice got it from https://www.annualcreditreport.com/cra/index.jsp
but they haven't already arrived? they usually send by mail.
Ok well as i said
dispute with CRA as obsolete
and dispute with CA as written on tradeline
Hi Cinnamngrl
No name of CA on any report. charge off showing the name of original creditor, only TU is reporting with additional piece of information which is the phone number of CA (found out by Google that, this phone number belongs to a CA)
last question, do I need to dispute with CA or OC??
sounds wrong but its right
I know it sounds like I am asking you to mail the letter as a mistake but each tradeline is supposed to show the contact information that is used to verify it. So send the Direct dispute to the title and address listed. if you get nothing back then the CRA must delete. dispute with the CRA too
after you do that if the tradeline is not deleted we have more steps. if you got credit from a jewelry store then it would still be from a bank. what was the name of the store or bank?
I never made a single payment on that account since 9/1994 or when the credit was issued. Crown diamonds is the OC on that. I don't see CA name listed on any report. Only Transunion is reporting an additonal piece of information, a phone number and that belongs to Vengroff, Williams & Associates, Inc. Possible CA on this.
Please advice:
* DV goes to OC or CA??
* Do I need to wait to get validation reponse or wait 30 days from CA/OC or CRA first?
* I know these below addresses for CRA dispute were probably posted here somewhere but I have been unable to find them. Please verify??
Experian
P. O. Box 9595 Allen, TX 75013-9595 (not sure)
(Equifax)
CSC Credit Services
P. O. Box 619054, Dallas, TX 75261-9054
Trans Union
P. O. Box 2000, Chester, PA 19022-2000