Re-aged Credit Report Item

What is the name of your state? S.C.

I just found out that my wife's credit report has an adverse reporting from department store charge account. The account went delinquent in 1992 with a date of last activity in 1992. On her credit report, it shows that the information was updated in 4/2003. No new activity has ocurred on this account since 1992 when it was charged-off. This is an obvious issue of re-aging. I have submitted a dispute with the CRA for the matter to be investigated. I did note for the dispute investigation that this was a re-aging issue. I expect to hear back within 30 days on this dispute.

My 1st question to the forum is this: I do not have any copies of old credit reports to show proof that this item was an delinquent account from 1992, so what happens if the department store comes back and tells the CRA that the reporting is valid? Should I send my own validation letter to the creditor asking for proof of the debt and showing all payments and credits to determine the date of last activity? Or, does the creditor have to provide this to the CRA to quantify the item I am disputing?

[bigun]

What you would do is contact the dept store and inform them that the account was chargedoff in 1992 and they are reporting incorrect information to the CRA's. Remind them that they do have liability in reporting incorrectly. SEnd the letter CRRR. When you get the green card back, dispute agagin with the CRA's and send it CRRR. This way, you've given them 2 chances to corrrect the record. If they don't, your wife has fertile grounds for a lawsuit. She can do it herself in small claims or, let a lawyer look at it. The FCRA allows you to recoup legal fees. Here's the caselaw that established the liability to the OC.

[url]http://caselaw.lp.findlaw.com/data2/circs/9th/0015946p.pdf[/url]

Here's a thumbnail descrption of the case:


Civil Liability under FCRA for Furnisher of Information
Nelson v. Chase Manhattan Mortgage Corporation
The issue in the case was whether the FCRA creates a cause of action for a consumer against a furnisher of credit information. The 9th Circuit Court of Appeals held that the FCRA is to protect consumers against inaccurate and incomplete credit reporting and Section 1681s-2(b) provides a private remedy to injured consumers. Thus, a consumer can sue a company for furnishing inaccurate and/or incomplete information. In this case, the furnisher allegedly failed to take prompt and appropriate corrective action once it was notified that it had reported inaccurate information.