Date of last activity vs Date reported

[fhcaptain]

State: Michigan

In looking at my credit reports, I do not see entries for "date of last activity". I only see "date updated". Unfortunately I do have a credit card debt that is 6 years old and to the best of my recollection the last activity on my part was in December 1999. The account is marked as "charged off". Yet as I look at it, the date updated is 10/2005 and the "item will be removed" date is 7 years from that "updated" date. I understand that the creditor is entitled to continue to asses penalties and interest, but can they continue to renew the dates so as to keep the debt on file for an indefinite period of time and to keep the entry appearing as if it were a new debt?

[zippysgoddess]

No and if that's what they are doing, you can dispute with the CRA. The debt is only allowed to be on your report for a total of 7 and a half years from the date of default, which would be 30days from the last time you either charged on the account or missed a payment.

You need to contact the CRA and see what they are going by as the DOLA.

[Ladynred]

Experian doesn't list the DOLA AND if you dispute a tradeline they will change the 'date updated' to the date of your dispute !!

BY LAW, a creditor MUST report the date of first delinquency that immediately preceeds placement for collections or charge-off. You must call Experian and ASK for THAT date.

You should also check Equifax and TransUnion, I believe they both report the DOLA.