RE-Aging of Chage-offs in Ca

cr1987 · 07-14-2008, 12:47 PM

I have a serious question. I read in a book "The Credit Secrets Bible" that if you get a notice from the Collection agency and do not respond, they can report the debt with a "refreshed" clock (DOLA). Is this legal and can someone dispute and have the date moved back to the REAL Date Of Last Activity? I have DOLA's that I KNOW were from at least 2003 and now they have been moved up to 2007! Also - is I am correct, isn't the SOL in Ca 4 years for credit debt? Any REAL help would be greatly appreciated as I am in the process of trying to rent an apartment and desperately need to get rid of as many "Old Negative" Accounts as possible. I just want to know after I get my credit reports - what would be a good advisable action to take? Where would someone like me start?

centex · 07-14-2008, 01:30 PM

DOLA has nothing to do with the 'clock.' The only date that matters is the DOFMD.

cr1987 · 07-14-2008, 02:17 PM

Quote:

Originally Posted by centex

DOLA has nothing to do with the 'clock.' The only date that matters is the DOFMD.

Sorry for being a little bit ignorant - as I am new to all of this - but what exactly does DOFMD mean? I am researching this forum and googel"ing" the Ca FDCPA - but I am not an attorney (trying to do my best though). I will also research ANYTHING and ANY and ALL articles as long as someone can point me in the right direction. I don't mind doing the work, I just need help in knowing what to do... (There are no formal judgements and I haven't been summoned - I just need a proper form of attack). And THANK YOU SO MUCH FOR EVEN RESPONDING!!!!!!

Enigma · 07-14-2008, 02:19 PM

Stop wasting money on some books.

CA FDCPA is the Rosenthal Act.

cr1987 · 07-14-2008, 02:23 PM

Actually - someone got the book for me ;-) so I didn't pay a single dime - but my question was - what does "DOFMD" stand for? I know what the Rosenthal Act is as I already downloaded it and am reading it right now... And once again - thanks for any and all responses.

centex · 07-14-2008, 02:25 PM

DOFMD= Date of First Major Delinquency. It is the event that starts the clock ticking for the purposes of reporting and also equals the date used in many jurisdictions to establish when the Cause of Action occurred for limitations purposes.

Date of Last Activity just means someone might have expelled the remnants of a bran muffin on that date and happened to update the report to memorialize the event.

cr1987 · 07-14-2008, 02:32 PM

Quote:

Originally Posted by centex

DOFMD= Date of First Major Delinquency. It is the event that starts the clock ticking for the purposes of reporting and also equals the date used in many jurisdictions to establish when the Cause of Action occurred for limitations purposes.

Date of Last Activity just means someone might have expelled the remnants of a bran muffin on that date and happened to update the report to memorialize the event.

THANK YOU SO VERY MUCH centex for your response! The only other question that I had was (and this is for anyone) "Is this 'Re-Aging' of old debts legal in the state of California?" Should I just send in a dispute letter to have them Validate the DOFMD and have them delete the item(s) because they were reported incorrectly, or are they (OC) actually in line with the law this time? I have had other items fall off after the "7 yr Period) but these new items seem to keep have come back as new and update CO's?... If this is in another forum, or if there is any literature on the web - you can point me to it and I will gladly research on my own. I am not lazy, just sort of "un-informed" at the present.

Thank You

centex · 07-14-2008, 03:08 PM

DOLA changes are not indicia of reaging. You need to stop sending ANY letters until you understand WHY you are sending them. Understand what EACH field on a real credit report (not a tri-merge) represents.

cr1987 · 07-14-2008, 03:24 PM

I am reading from the Equifax report now - and not some 3-1 report from free credit report.com. The problem is that the credit card/"charged off" item now has a year date of 2007, when it was clearly first charged off in 2003. Apparently it was sold, and then re-assigned (sold once again) to another collection agency and since it was reassigned, it has a new year date of 2007. If that isn't re-aging, then I apparently don't know what is. I have had other items fall off after the 7 yr period, but how can this item be dropped off after the 7 yr period, if this "so called" clock is constantly allowed to be reset? That is where my "question" and "issue" come into play. I haven't written or sent in any letters yet. I am once again trying to find out if that is a good place to start, as these are clear indications of "Inaccurate reporting" - unless this is legal in the state of California for Unsecured Credit Card Debt?

Once again - Thanks in advance for any responses.

centex · 07-14-2008, 04:02 PM

The fact that a 2007 entry appears does not carry an automatic presumption of reaging. A furnisher is required to show the date that the matter was opened in their office...that could be several years post-delinquency. Further, the sale may be considered 'activity,' which then creates a DOLA date during 2007 (as an example). Neither field has ANYTING to do with the date of delinquency.

Unless the DOFMD has been altered, THERE IS NO REAGING!!!

As to any claims, make sure they are the paper copies of the reports from the bureaus, not their online versions. Even with the bureaus, the online version does not always reflect precise interpretations of the tradeline data.

cr1987 · 07-14-2008, 05:34 PM

Once again - Thanks!!! As I will try and move forward from here. I'm sure I will have many more ?'s 2 come!

Thanks again for the response!