2 Different Agencies, 2 Different Open Dates, Same Debt
It looks as if this the collection company (2nd entry) started the date over again by a 2 year difference. Are they allowed to do this?
Any help would be greatly appreciated.
Account Name: CHASE
Account Number: 51492202XXXX
Acct Type: Credit Card - Revolving Terms
Acct Status: Closed
Monthly Payment:
Date Open: 2/1/2004
Balance:
Terms: Revolving
High Balance: $3,173.00
Limit: $2,100.00
Past Due:
Payment Status: Account transferred to another office
Comments: Transferred to another lender or claim purchased
Account Name: HILCO RECEIVABLES LLC
Account Number: 86XXXX
Acct Type: Unknown - Credit Extension, Review, Or Collection
Acct Status: Closed
Monthly Payment:
Date Open: 1/1/2006
Balance: $3,173.00
Terms: 1 Month
High Balance:
Limit:
Past Due: $3,173.00
Payment Status: Seriously past due date / assigned to attorney, collection agency, or credit grantor's internal collection department
Re: 2 Different Agencies, 2 Different Open Dates, Same Debt
Junk Debt Buyers, or JDBs, do this all the time. Is it right? In my eyes no. In the eyes of the law, possibly, dependent upon the loopholes that they are using. If they own it outright then they have the right to report it.
Chase is reporting the balance correctly so there is no violation on the part of Chase. The JDB may have purchased it in 06 and report the date of purchase or the date that Chase charged it off. Expect that they will litigate soon. Expect that their information will be poor.
Dispute the debt with the "Big Three" credit agencies and make sure that you dispute the debt with the JDB, in writing, when you get the letter. The FTC provides an informal letter to a JDB that denotes JDBs are considered 3rd party collectors under the provision of the FDCPA. They must validate your debt. They may send you a B.S. "affadavit" but not actually send you anything real.
Even if they lose in a court of law on SOL or lack of evidence, they can still attempt to collect unless you win an injunction preventing them from collecting or selling the debt. I am starting to see those where someone has an attorney draft the answer and counterclaim and wish I would see it more.
In a few months I have a friend going against a law firm for FDCPA violations (filing outside the two geographies allowed under the FDCPA, failure to validate the debt, and continued collection attempts after acknowledging the dispute and noting they were requesting additional info), fraud on the court (improper service), and just being a-holes. Okay, so that last one is a joke...
After that they are going up against W&A for fraud on the court (lack of service) and a motion to set aside judgement, but will likely lose.
Re: 2 Different Agencies, 2 Different Open Dates, Same Debt
All it means is the date the acct was opened with the collection agency. that by itself is not re-aging. as long as the date of first major delinquency is reported correctly, date opened doesn't matter
Re: 2 Different Agencies, 2 Different Open Dates, Same Debt
GreatGadsby is correct - Date Opened is not in anyway related to an illegal activity. Consumers often get this date confused with DLA or Last Activity or Date of Last Activity. Elimination of this very important date or re-aging of this date is illegal and can have a major impact to the consumer as well as the consumers credit/FICO Score.