Verizon Wireless Reporting to CRA

[Anonymous]

I have a final payment dispute ongoing with Verizon Wireless for charges I do not feel I am obligated to pay totaling $95.00. I have been in contact with Verizon to get this taken care of after their threats of sending it to collections. However, instead of it showing up as a collection account, it is now being reported as a open individual account in a collection/charge off status. However it does not disclose if it 30/60/90 days, just  shows as a late account in my payment history. It dropped my score dramatically. I checked my report the day I was trying to get preapproved for a home loan & at this point I will pay the $95.00 to have it removed. Can Verizon report a wireless account this way instead of just showing up as a collection account? Can I dispute this with the CRA's and if I do pay it can it be removed so the account is no longer reported? Prior to now I had excellent payment history, so naturally you can tell my frustration. 

Any insight would be helpful as this has prevented me from getting prequallified for a home loan ( no lates the last 12 months).

Thanks!

[RobertEG]

There is no code for reporting a "late account" per se to your payment history profile.

They must have designated a specific type/level of derog, as the CRA MUST know what type it is in order to determine its credit report exclusion period and calculate the required exclusion date.

They must have reported either a monthly level of delinquency or a charge-off/referral for collection.

Most likely, they reported a charge-off.

You need to know exactly what was reported in order to evaluate its accuracy,and thus make a decision as to whether it is disputable.

[RonM21]

If you don't.mind answering, what is the charge for? You said you weren't in agreement with it so I assume you thought you piad the account to.current.

[takeshi74]

Don't overlook the Rebuilding subofurm and stickies as resrouces.  They won't specifically answer what's going on with Verizon but there are tools and information available on collections and dealing with things like this.

[Anonymous]

It is being reported as a open individual account in a collection/charge off status & yes, the day a changed wireless providers I was under the impression I was paying my last bill. That's not the case aparrantly. I just would like to pay it and have it removed from my report, as it is hurting my until now excellent payment history. 

[RobertEG]

Once the creditor has reporting a payment history derog, subsequent payment of the debt is not basis for its removal.

You would have to contact the creditor and request their voluntary deletion.

If you would prefer to contest the accuracy of the reported derog, you can of course file a dispute.

In response, the creditor is required to conduct a reasonble investigation, but is not required to "prove" its accuracy.

If they verify its accuracy, the dispute would be closed, and to contest it on the merits would require filng of civil aciton to get the facts before a court.

[teeder27]

Good luck with Verizon.  They will not remove anything, once it hits your bureaus.  I've tried countless times and had no success at all.