Can anyone help me make sense of this? Closed Charge Off recently reporting as Open.

[Anonymous]

Hey guys,

  I'm trying to figure out what I can do about this.  I'd even try a PFD, but I don't think Mazda American Credit is good with those (from what I've read?) and I don't want to wake the bear.  I should be past the SOL also.  (three years, in my case.)

Here is how the same account looks compared between EQ and Transunion:

http://oi59.tinypic.com/1ptsb7.jpg

And here is more information about the EQ account:

http://oi59.tinypic.com/v42us6.jpg

Transunion says the account was closed in 2010, but EQ says it is still open.  EQ also also stopped reporting back in 2010, but is suddenly reporting again.

One note is that on CK, it shows this account as "Sent for Collection" under the EQ report, but I haven't received or heard any information about that, and it should be well past the SOL anyway.  

Does anyone have any advice about what I could or should do about this?  It should fall off in Dec 2016.  (edited to change that date - I thought it was 2017.)

Edited to add:  I think this is causing my report to have current late payments listed.  Frustrating since all of my other accounts are at 0% balances because I'm paying them in full each month, and I have no way to make "payments" on this delinquent account.  I may be wrong though - still very new to all of this!

[gdale6]

Legally they could update it as CO every month till its excluded from your report. I would use the Section 623 direct dispute to the creditor on the open status. The reason that old COs can suddenly update is its a way to drop your Fico and make it harder for you to obtain new credit. As far as a collection this could be assigned to their internal collections dept, if you have not heard from an external collector I would not worry about it and just direct your PFD offers directy to them.

[Anonymous]

Would disputing with a Section 623 dispute or offering the PFD possibly make them re-age the account somehow?  As it stands, it should fall off in Dec 2016... at least, according to Experian.  (I just checked.)

[gdale6]

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@Anonymous wrote:

Would disputing with a Section 623 dispute or offering the PFD possibly make them re-age the account somehow?  As it stands, it should fall off in Dec 2016... at least, according to Experian.  (I just checked.)

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Re-aging of an account would be illegal, it generally refers to changing the DoFD to a date that it is not. They can update the account to CO status like one bureau is reporting they have done. Rule of thumb on these is leave them alone if they are not updating monthly, once they start then thats the time to hit them with the 623 if there are errors reporting on the account.

[Anonymous]

I'll definitely look into that, then!  I noticed they have the date of last payment wrong too...  on my TransUnion and Experian reports, at least.  They have the date of last payment for 09/10, but my car was repo'd before that date, and the last payment was a good month or two before that happened so I'm not sure how I was able to make a payment after the fact - unless they count what they made from selling the car after it was repoed.  : P

As luck would have it, I can't even dispute Expedia (lol...  it's been a long day.) Equifax online, or even access my report.  They say my information entered is incorrect...  but it was absolutely, definitely correct.  Figures.

[gdale6]

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@Anonymous wrote:

I'll definitely look into that, then!  I noticed they have the date of last payment wrong too...  on my TransUnion and Experian reports, at least.  They have the date of last payment for 09/10, but my car was repo'd before that date, and the last payment was a good month or two before that happened so I'm not sure how I was able to make a payment after the fact - unless they count what they made from selling the car after it was repoed.  : P

As luck would have it, I can't even dispute Expedia (lol...  it's been a long day.) Equifax online, or even access my report.  They say my information entered is incorrect...  but it was absolutely, definitely correct.  Figures.

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I would suspect that was the proceeds from the auction of the car.

[RobertEG]

I would not advise disputing anything on the account at this time/

More than likely, it will result in reporting of further damage.

Failure to have updated the status of the account to closed with EQ is of no real significance, and is readily corrercted.

Same with any reporting of date of last payment.

Inaccurate reproting cn be corrected without any need to delete anything.

They have, if anything, omitted reporting of numerous monthly delinquencies.  A dispute is likely to add their reporting of numerous derogs that have not yet appeared.

They did a charge-off.  They disconintued reporting of its continued delinquency status after that time, but could have done so.

Reporting now that it remains charged-off is not an error.

I dont see their reported DOFD.  I would first obtain the reported Dofd before assuming when the CO will become excluded.

Additionally, assuming a collection has not yet reported, it could at any time be sold or referred for collection.

Personally, I would offer a PFD to the oC before a debt collector becomes involved.

[Anonymous]

I'm thinking my best course of action would be to wait it out...  Dec 2016 isn't terribly far away when I consider I'm trying to rebuild my credit history anyway and need to build up new history to make up for the baddies (old history) that are scheduled to all fall off in 2016.  

I'm thinking if they did send a collector after me it might be easy to dispute since the SOL where I live is only three years, supposedly.  

Sorry to rush off - don't want my dinner to burn!