I am a victim of re-aging. I opened up a 1st and 2nd home loan on a true home in 2002. By 2003 I put lost my job and my home to foreclosure. Feb of 2003 My last payment was made. The very first mortgage fell off my credit this year 2010. The 2nd has been re-aged a genuine amount of times over the last 5 years.
The first time was after the loan was transferred from BofA (BAC MORTGAGE LOANS) to Litton Loan Servicing. Litton transformed the date showing my first delinquency in 2007. I disputed this this year 2010 only to have them change the day again to May of 2010. The loan was then used in Ocwen.
I have disputed this so often that even the CRA’s refuse to let me continue steadily to dispute it. I’ve even provided the CRA’s and Ocwen copies of the state payment information from BofA. Ocwen will not respond to my accredited words, and the CRA’s tell me that I’ve no BofA accounts.
Because the accounts number was changed when Litton took over the loan, the CRA’s say it isn’t the same account. Worse of all, no one can help. Even numerous attorneys have been approached, but nothing are thinking about representing me. I had formed one inform me that my case wouldn’t normally make a good course action suit! I am not looking to make millions off of these criminals, I just want this taken off my credit so I can proceed with my life. It is very frustrating, and I feel I am spinning my wheels every time I send another certified letter just, knowing it will make a difference never.
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- Risk management strategy
First let me apologize when planning on taking so long to make contact with you. The vacation season is hectic around the house always. That being said, let me address why your accounts kept updating first. Each time you filed a dispute with the credit reporting agencies, the collection was contacted by them company and asked for confirmation.
Federal law will not govern the type of investigation the credit reporting agencies have to conduct. As a result of this, they’ll generally fax over the sheet stating “May be the information your reported accurate?” The collection agency faxes back a response of “Yes” and your debt is verified. Period. No proof required. Now, each right time you made that dispute and the credit bureaus attemptedto confirm, the counted as activity on your account and the date on your credit file updated accordingly.
BUT..which is a very big “but.” that should haven’t any bearing whatsoever on the debt’s reporting period. The reporting period is defined in stone at 7 years from the date your accounts first went 180 times delinquent No amount of payments or disputes can transform this date. To prevent this little bit of gray-area fraud from continuing, the federal government updated the Fair Credit Reporting Act to provide the credit bureaus the right to deem repeated disputes “frivolous” and won’t investigate them. Unfortunately, this makes fixing errors extremely difficult for the honest people out there who just want what they’re legally eligible for – an accurate credit score.
This has always been a way to obtain serious frustration for me as, nine times out of ten, my clients don’t come to me until they’ve dug an extremely deep opening for themselves. That said, you can test requesting a Method of Verification. I’m linking a website below that points out the process in depth. It might not achieve success after getting your dispute designated “frivolous” (and TransUnion is going to be the hard one to work with here) but try it anyway. The important thing is to create a paper trail.
Now, the credit bureau says you do not have a Bank of America accounts and are using this as grounds to leave this inaccurate information on your credit file. The irony here’s that no collection account should stick to a credit report longer than the initial creditor’s entry. If it does so, its been re-aged.
Oh, and accounts are designated a new quantity when they change hands. The credit bureaus know this and are using the different account number as a cheap reason to attempt to blow you off. The good news here’s that you can prove to the credit bureaus that the original creditor was Bank of America.