CRA keeps reporting

[classicgirl]

Hi All,

I have a question about a CA that is paid for that keeps reporting on the account. Can they do this? I understand them reporting when I paid it, but what are they reporting when it is already paid and at $0. It keeps lowering my score as everytime they report it looks like it is new when it is really 7 years old. I don't even understand what they are getting out of this, I've already paid, what more do they want. The CA is Asset Acceptance.

Thanks in advance!

[DaBears]

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@classicgirl wrote:

Hi All,

I have a question about a CA that is paid for that keeps reporting on the account. Can they do this? I understand them reporting when I paid it, but what are they reporting when it is already paid and at $0. It keeps lowering my score as everytime they report it looks like it is new when it is really 7 years old. I don't even understand what they are getting out of this, I've already paid, what more do they want. The CA is Asset Acceptance.

Thanks in advance!

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Are the adding the collection every month? is the DOLA changing? It's called re-aging and illegal to do. What state do you reside in?

Community Leader, 

DaBears

[guiness56]

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@classicgirl wrote:

Hi All,

I have a question about a CA that is paid for that keeps reporting on the account. Can they do this? I understand them reporting when I paid it, but what are they reporting when it is already paid and at $0. It keeps lowering my score as everytime they report it looks like it is new when it is really 7 years old. I don't even understand what they are getting out of this, I've already paid, what more do they want. The CA is Asset Acceptance.

Thanks in advance!

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Can you clarify what you mean by reporting?  How often is this happening?  Every month, every few months?

[Shogun]

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@guiness56 wrote:

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@classicgirl wrote:

Hi All,

I have a question about a CA that is paid for that keeps reporting on the account. Can they do this? I understand them reporting when I paid it, but what are they reporting when it is already paid and at $0. It keeps lowering my score as everytime they report it looks like it is new when it is really 7 years old. I don't even understand what they are getting out of this, I've already paid, what more do they want. The CA is Asset Acceptance.

Thanks in advance!

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Can you clarify what you mean by reporting?  How often is this happening?  Every month, every few months?

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+1

Once paid, monthly updating should stop, plus it's a CA, they can't list monthly derogs.  I'd like to see how it's updating.

[RobertEG]

+1

Nothing specifcally precludes a furnisher from continuing to file updated reportings that simply state the current status.

However, if it reports no changes, it is essentially useless and redundant other than to advise others that the debt remains paid.

The CRA reporting manual states that furnishers should discontinue reporting of the redundant after the debt is paid, as it just creates unnecesary work for all.

Perhaps the debt collector simply has the account in some automated system that simply regurgitates current status each month........

Such reporting is not a violation by reaging a relevant date that is regulated under the FCRA.

Updates may "reage" the date of last activity, but is not illegal.  The date of reporting that is regulated by the FCRA is the date of first delinquency on the OC account.

If they improperly report a later DOFD, that could result in violation of the FCRA, as it would extend the credit report exclusion period of their reported collection.