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  1. #1
    Join Date
    Apr 2012

    Default Disputing Credit Report Entry for Charged Off Credit Card Debt

    My question involves collection proceedings in the State of: Oregon


    I have an outstanding debt of $14K for a charged off Chase Bank credit card. The last time I made a payment was in March 2006. The debt was charged off in December 2006, I believe. It was sold to 2 or 3 JDB's and now is owned by The Bureau's in Illinois which continues to report negatively to the CRA's. I received a dunning letter from a local attorney about a year ago. I responded with a request for debt validation and that was the end of it with this attorney. I followed up with a validation request directly with The Bureau's and they responded with a brief letter claiming the debt is valid. They have never attempted to contact me seeking payment. On my credit report, this negative reporting says it will come off my report as of September 2012.

    Since the SOL in Oregon is 6 years and I last made a payment to Chase in March 2006, I'm thinking I can dispute with the CRA's the negative reporting by The Bureau's. I have heard something about some credit cardmember agreement including an 'acceleration clause' that can extend the SOL which is counterintuitive. I have lost or discarded the original agreement from this card. My main questions are:

    1) This debt shows up as two reportings on my report: one from Chase saying the debt was charged off and indicates I last made a payment in March 2006; the other from The Bureau's saying I owe them $14K but nothing indicates it is connected to the Chase charged off account. How do I demonstrate to the CRA's that these debts are one and the same?

    2) If I initiate a dispute with the CRA's and there is some catch whereby this debt has NOT run past its SOL, might I be acknowledging that I owe this debt and might that awaken the JDB (The Bureau's) that appears to currently be napping on this one?

    thank you much for any response...

  2. #2
    Join Date
    Sep 2005
    Behind a Desk

    Default Re: Statute of Limitations of Charged Off Credit Card Debt

    You have no basis to dispute the accurate listing of a debt where your default occurred less than seven years ago. The statute of limitations for suing you is not the same as the limitations on how long a CRA can report your default.

  3. #3
    Join Date
    Apr 2012

    Default Re: Statute of Limitations of Charged Off Credit Card Debt

    Thank you for the prompt reply. In Oregon, the SOL to sue to collect is 6 years, is that correct? And, the SOL to report is 7 years, nationwide?

  4. #4
    Join Date
    Sep 2010

    Default Re: Statute of Limitations of Charged Off Credit Card Debt

    Correct and also both the original creditor and any collection outfit is allowed to report to the bureaus (for the same 7 yrs from DOFD - date of first default) as long as only one is reporting a balance owed. So disputing with the bureaus these are one in the same debt won't get either one of them deleted.

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