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Date of Last Activity?
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Posted by Lance
on October 17, 2000 at 04:30:01:
Can anyone please explain exactly what the "date of
last activity" truly is? Is it the date of the final
payment or charge that actually occurred on the account,
or is it the date the account was originally placed for
collection? For example, I have an account in which my
final payment was made in 3/1995, however on my credit
report it shows the date of last activity as being 3/1996
(when it was moved to collections). I'm confused as to
whether then it should show as 3/1995 or 3/1996 on my
credit report, assuming that the rules are different
for items placed on a credit report before 1/1/98 than
they are now according to the FCRA.
As you can see in
this case, it was a full 12 months after the final
payment was made before it ever went to collection.
If it is the date it was sent to collection, isn't
there a time limit (when the account became 180 days
delinquent or something) to when the 7 year period
should start? Otherwise, there wouldn't be any deadline
for a company to send something to collection. They
could let an account rock on and on in deliquent status,
and then the clock for the "date of last activity"
wouldn't start until they actually turned it over to
collection. Thanks for any help you can give.
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