dfwmustangs legal question?

[CJ]

https://www.consumer.ftc.gov/article...orting-act.pdf

This is from your own link:

"It is also tricky because, under certain circumstances, the clock can be reset, and the time period can be started fresh."

I've worked within the constraints of these laws for my whole career.

[CJ]

Most people do not go through the trouble to have OOD reports taken off. The big three will report until they are forced not to.

Disputed tradelines are dropped when a creditor response is not received in the allocated time. Most of the time old debts like that do not receive responses. Sometimes they do, and it can't be removed. I use to respond to those disputes all the time, and force the tradeline to remain. This was generally on skip/fraud customers who deceived and stole from the company. There is a WHOLE lot of misunderstanding and false presumptions revolving around credit and tradelines. 99% of people really don't understand it. It's extremely complicated and frustrating. A lot of what's been said in this thread is accurate in a generalized sense. I will say that revolving and installment tradelines have different guidelines, as do secured tradelines. Secured loans have much different guidelines, but the OP appears to be dealing with medical collections. I do not have a lot of experience with medical collections, but my guess given the age is the debt has been sold to a new debt collection service.

[chronical]

This is from your own link:

"It is also tricky because, under certain circumstances, the clock can be reset, and the time period can be started fresh."

I've worked within the constraints of these laws for my whole career.

If you make a payment, it can and most likely will be reset. Read the other link too. It's 7 years.

[CJ]

If you make a payment, it can and most likely will be reset. Read the other link too. It's 7 years.

I've been doing this my whole career, I know it inside and out. The seven year rule you're quoting is a very common misconception that I hear repeated over and over and over. Seven years since the last reporting date.

[chronical]

Disputed tradelines are dropped when a creditor response is not received in the allocated time. Most of the time old debts like that do not receive responses. Sometimes they do, and it can't be removed. I use to respond to those disputes all the time, and force the tradeline to remain. This was generally on skip/fraud customers who deceived and stole from the company. There is a WHOLE lot of misunderstanding and false presumptions revolving around credit and tradelines. 99% of people really don't understand it. It's extremely complicated and frustrating. A lot of what's been said in this thread is accurate in a generalized sense. I will say that revolving and installment tradelines have different guidelines, as do secured tradelines. Secured loans have much different guidelines, but the OP appears to be dealing with medical collections. I do not have a lot of experience with medical collections, but my guess given the age is the debt has been sold to a new debt collection service.

The reporting guidelines are the same for installment or revolving. Maybe you are thinking of a judgement. Those can stay indefinitely.

[CJ]

The reporting guidelines are the same for installment or revolving. Maybe you are thinking of a judgement. Those can stay indefinitely.

There are collection guidelines and reporting guidelines, they are completely independent. You are mistaken. I'll make this very easy. Comb the laws and support your statement.

[chronical]

I've been doing this my whole career, I know it inside and out. The seven year rule you're quoting is a very common misconception that I hear repeated over and over and over.

I'm sorry man. You are wrong though. I gave you the fair credit reporting act. Here is different link of the same.

https://en.m.wikipedia.org/wiki/Fair_Credit_Reporting_Act

Scroll down to reporting

[CJ]

I'm sorry man. You are wrong though. I gave you the fair credit reporting act. Here is different link of the same.

https://en.m.wikipedia.org/wiki/Fair_Credit_Reporting_Act

Scroll down to reporting

I have to be certified in the FCRA every year, I know it inside and out. Support your statements, you're just repeating what you've been told. I hear it all the time.

[chronical]

There are collection guidelines and reporting guidelines, they are completely independent.

Sure you can collect after 7 years but you have to disclose that he debt is outside the statue of limitations. And while collection, you absolutely can not report it. Now if some guy makes a partial payment on a debt that is past limitations, it sure can reset the clock and begin reporting again.

It's all based on the dofd. Date of first delinquency. Which is the first time the account went past due that ultimately led to the charge off.

For example 30 days 60 days 90 days 120 days then charge off

But if the account went 30 60 90 then a payment was made then went 30 60 90 120 c/o, the dofd would be the second time the account went 30 days since that is the missed payment that ultimately led up to the charge off

Making a payment on and old debt is the same thing but just will a longer gap in time

[chronical]

I have to be certified in the FCRA every year, I know it inside and out. Support your statements, you're just repeating what you've been told. I hear it all the time.

Posted several links.... I hadn't see. Anything you have posted other than "I know what I'm talking about". Not trying to argue but you are wrong. Maybe trolling ?

I'm up for learning something new if you can provide something that backs up what you are saying

[chronical]

And no I'm not repeating anything. I know more than most.

[CJ]

Sure you can collect after 7 years but you have to disclose that he debt is outside the statue of limitations. And while collection, you absolutely can not report it. Now if some guy makes a partial payment on a debt that is past limitations, it sure can reset the clock and begin reporting again.

It's all based on the dofd. Date of first delinquency. Which is the first time the account went past due that ultimately led to the charge off.

For example 30 days 60 days 90 days 120 days then charge off

But if the account went 30 60 90 then a payment was made then went 30 60 90 120 c/o, the dofd would be the second time the account went 30 days since that is the missed payment that ultimately led up to the charge off

Making a payment on and old debt is the same thing but just will a longer gap in time

It would be 30 days past due as the first date of delinquency, as that's the threshold for bureaus. Revolving is 180 days, installment is 120 days to charge-off. Once the debt is charged-off, you can collect it indefinitely, depending on where the borrower resides, state laws regulate that. Texas is four years from DLA.

Here's Texas state law:

http://www.statutes.legis.state.tx.us/Docs/CP/htm/CP.16.htm#16.004

[chronical]

I've been doing this my whole career, I know it inside and out. The seven year rule you're quoting is a very common misconception that I hear repeated over and over and over. Seven years since the last reporting date.

I just saw this. Seven years since the last reporting date? To keep reporting? You have to be trolling. Sorry man. If you tell people that at work, you could end up in hot water.

[CJ]

I just saw this. Seven years since the last reporting date? To keep reporting? You have to be trolling. Sorry man. If you tell people that at work, you could end up in hot water.

Read the post above, dude. You don't seem to understand the differences between reporting, collecting, and bureaus. I get the feeling the knowledge you have is from a local lender.

[chronical]

It would be 30 days past due as the first date of delinquency, as that's the threshold for bureaus. Revolving is 180 days, installment is 120 days to charge-off. Once the debt is charged-off, you can collect it indefinitely, depending on where the borrower resides, state laws regulate that. Texas is four years from DLA.

Here's Texas state law:

http://www.statutes.legis.state.tx.u....16.htm#16.004

I know Texas state law. We're can you collected on it ( by reporting) indefinitely?

I said 30 days is the dofd.

Who cares when it gets charged off? This conversation is how long can a debt be reported to the credit bureaus.