Stop Collection Agency Harassment

It is a education in itself when it comes to reading a credit report. The big 3 – CRA’s Credit Reporting Agencies are TransUnion, Experian and Equifax. Each bureau has a different way of reporting the items listed. It is very helpful when the reports note when the item will “fall off” the report. That brings us to the topic of DOLA – date of last activity.

Date of last activity SHOULD be on the credit report as the last date of the LAST payment made. For example, if a consumer has not made a payment on the current credit card debt in 12 months, the date of last activity would be 12 months ago.

Some reports could note “NA” where the DOLA should read. We are referring to Equifax and most of the time there is no date listed.

So why is this important? The DOLA could make a difference on what should be on your report or can be deleted. Often these dates are miscalculated and even debated about what date the DOLA should be on the report (time frame). If the DOLA is incorrect, then the item could be alot older and can be deleted after 7 seven years.

By the way, collection agencies change the DOLA dates all the time. It keeps the item on the report and keeps the score down. It is like a dog chasing its tail, UNTIL the consumer learns more and takes action to change it. There are many violations, and the consumer can sue the CRA’s and win thousands.

Where can you get a free credit report? It is always best to order hard copies of your report. You are allowed 3 free reports every 12 months. 877-322-8228

It takes time but it is time well spent.

NEXT LEVEL CREDIT

“Taking Your Credit to the Next Level”

Tweet This Post