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Valued Member
germese1975
Posts: 85
Registered: ‎04-23-2013
0

Can Midland report like this?

 

I didn't think a CA can report a payment history since I don't have a payment contract with them.

Also this account says OC is WEBBANK on my EX CR. Who the _ell is WEBBANK?!? I don't have a WEBBANK listed as an OC. I'm so confused on this account....

Starting FAKO scores: EQ: 566, EX: 566, TU: 569 (27 Apr 2013)
Starting MyFICO scores: EQ: 618, TU: 544 (4 May 2013)

Current FAKO scores: EQ: 665, TU: 658 EX: 635 (4 Jul 2013)
Current FICO Scores: EQ: 651, TU: 662, EX: 694 (13 Jun 2013)

Goal: 650 REACHED!!
New Goal: All 3 in the 700 Club!
Valued Contributor
rckstrscott
Posts: 2,659
Registered: ‎04-25-2011
0

Re: Can Midland report like this?


germese1975 wrote:

 

I didn't think a CA can report a payment history since I don't have a payment contract with them.

Also this account says OC is WEBBANK on my EX CR. Who the _ell is WEBBANK?!? I don't have a WEBBANK listed as an OC. I'm so confused on this account....


I think Midland can represent this way. I know it is a very hot debated topic, so I am not too sure, but I think they are able to report the last status of the OC, and report as a factoring company. How is it showing on a non-consumer report? Like report straight from the CRAs, is it showing in accounts or collections.

 

Webbank is Bill Me Later, and they never report as an OC - they only show up after you default and it goes to collections.

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 05/12: TU: 722 | EQ: 712 | EX: 686
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession

Still Working On: Illinois Paid Tax Lien,
Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $3900, Citi/Home Depot $2000, Capital One Cash Rewards $1500, Capital One Secured $500, Credit One Bank $500. Total Utilization: 6%. AAoA: 1yr, 7mth. INQS: 8 TU, 8 EQ, 4 EX
Mega Contributor
RobertEG
Posts: 17,456
Registered: ‎03-19-2007
0

Re: Can Midland report like this?

Debt collectors can, and do, report the derog status of the OC account for which they are now collecting on the debt.  That is not reportiing of a delinquency based on their billing of the consumer.

 

Debt collectors cannot report monthly delinquencies that occured based on their collection.  Absent an account agreemeent with the consumer, they cannot send a bill with a due date, and report failure to have paid after expiration of the billing due date.

Valued Member
germese1975
Posts: 85
Registered: ‎04-23-2013
0

Re: Can Midland report like this?

I guess what I'm confused about are the OK reports for several months, than a 120 day late in May. I was under the assumption they cannot report as if I was making payments, then BAM!, 120 days late, since I don't have a payment agreement with them. I understand they can report the same as the OC.

 

As for this being Bill Me Later, I don't recall ever having an account with them. Time to DV Midland.

Starting FAKO scores: EQ: 566, EX: 566, TU: 569 (27 Apr 2013)
Starting MyFICO scores: EQ: 618, TU: 544 (4 May 2013)

Current FAKO scores: EQ: 665, TU: 658 EX: 635 (4 Jul 2013)
Current FICO Scores: EQ: 651, TU: 662, EX: 694 (13 Jun 2013)

Goal: 650 REACHED!!
New Goal: All 3 in the 700 Club!
Valued Contributor
rckstrscott
Posts: 2,659
Registered: ‎04-25-2011
0

Re: Can Midland report like this?


germese1975 wrote:

I guess what I'm confused about are the OK reports for several months, than a 120 day late in May. I was under the assumption they cannot report as if I was making payments, then BAM!, 120 days late, since I don't have a payment agreement with them. I understand they can report the same as the OC.

 

As for this being Bill Me Later, I don't recall ever having an account with them. Time to DV Midland.


Yeah.. if they are collection on behlf of an OC, instead of purchasing the debt, they can report that way... if the OC was reporting all OKs to them, and then the 120 day late they can regurgitate that informaton, from my understanding..

 

yeah get that DV on the way. I am unsure whatelse webbank does.. maybe paypal? but I know they do BML, as I have a BML account

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 05/12: TU: 722 | EQ: 712 | EX: 686
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession

Still Working On: Illinois Paid Tax Lien,
Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $3900, Citi/Home Depot $2000, Capital One Cash Rewards $1500, Capital One Secured $500, Credit One Bank $500. Total Utilization: 6%. AAoA: 1yr, 7mth. INQS: 8 TU, 8 EQ, 4 EX
Valued Member
germese1975
Posts: 85
Registered: ‎04-23-2013
0

Re: Can Midland report like this?

 

This is what the account looks like on my EQ consumer CR

Starting FAKO scores: EQ: 566, EX: 566, TU: 569 (27 Apr 2013)
Starting MyFICO scores: EQ: 618, TU: 544 (4 May 2013)

Current FAKO scores: EQ: 665, TU: 658 EX: 635 (4 Jul 2013)
Current FICO Scores: EQ: 651, TU: 662, EX: 694 (13 Jun 2013)

Goal: 650 REACHED!!
New Goal: All 3 in the 700 Club!
Valued Member
germese1975
Posts: 85
Registered: ‎04-23-2013
0

Re: Can Midland report like this?

As you can see, Midland has had this account since Jan 2012. So how can they suggest that I have made payments in 2013?

Starting FAKO scores: EQ: 566, EX: 566, TU: 569 (27 Apr 2013)
Starting MyFICO scores: EQ: 618, TU: 544 (4 May 2013)

Current FAKO scores: EQ: 665, TU: 658 EX: 635 (4 Jul 2013)
Current FICO Scores: EQ: 651, TU: 662, EX: 694 (13 Jun 2013)

Goal: 650 REACHED!!
New Goal: All 3 in the 700 Club!
Valued Contributor
rckstrscott
Posts: 2,659
Registered: ‎04-25-2011
0

Re: Can Midland report like this?


germese1975 wrote:

 

This is what the account looks like on my EQ consumer CR


Maybe Robert will come back and put in his two cents.. I hate midland and this factoring company stuff. If they bought the debt, this should be a collection account. Although it looks like there is no payment history on this one, and it does show "collection account'

 

I don't know to be honest. I know plenty about credit reports and repairing, but this trend of reporting as factoring companies and what not confused me.

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 05/12: TU: 722 | EQ: 712 | EX: 686
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession

Still Working On: Illinois Paid Tax Lien,
Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $3900, Citi/Home Depot $2000, Capital One Cash Rewards $1500, Capital One Secured $500, Credit One Bank $500. Total Utilization: 6%. AAoA: 1yr, 7mth. INQS: 8 TU, 8 EQ, 4 EX
Senior Contributor
DaBears
Posts: 3,930
Registered: ‎10-26-2012
0

Re: Can Midland report like this?


rckstrscott wrote:

germese1975 wrote:

 

This is what the account looks like on my EQ consumer CR


Maybe Robert will come back and put in his two cents.. I hate midland and this factoring company stuff. If they bought the debt, this should be a collection account. Although it looks like there is no payment history on this one, and it does show "collection account'

 

I don't know to be honest. I know plenty about credit reports and repairing, but this trend of reporting as factoring companies and what not confused me.

 

-scott


Them listing themselves as a factoring company account is not a violation of the FCRA. They are still seen as a collection agency. 


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