Charge Off showing as OPEN

[Anonymous]

Hey,

I signed into my CK today and it currently shows my Cap One charge off as open. It has always been closed since Mar 2010. Why does this show as open when it was purchsed by a collection agency (Midland) in Mar 2010? 

Last Reported

Apr 06, 2015

Creditor Name

CAPITAL ONE BANK USA

Account Type

Credit Card

Account Status

Open

Opened Date

Oct 01, 2008

Closed Date

--

Limit

$500

Term

--

Monthly Payment

--

Responsibility

Individual Account.

Balance

$0

Highest Balance

--

Payment Status

Collection/Charge-Off

Worst Payment Status

--

Date of Last Payment

Nov 01, 2009

Amount Past Due

--

Times 30/60/90 Days Late

2/1/1

Remarks

Consumer disputes - reinvestigation in progress

Has anyone had this happen to them?

[gdale6]

I have seen this scenario in other threads. Since it just updated I would dispute the status of open with a direct dispute to Cap-1 with request to report correctly as closed.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Direct-dispute/td-p/2309095

[crrredit]

Maybe check your real report before you do anything. I have a CO/Collection account that's listed as open on CK, but a report from the actual bureau shows it closed.

[RobertEG]

Revolving accounts that have been charged-off by the creditor will not permit the consumer to increase the debt.

They are closed.

Lack of reporting of the account as closed is a minor failure to have reported that closure.

A dispute will simply require the creditor to update.  An informal call can achieve the same result without adding a formal dispute, and thus the need to remove the pending dispute flag once the correction is made.  I would call and remind them of their responsibility under FCRA 623(a)(2) to promptly update any reporting so as to maintian its current accuracy.  The consumer should not have to dispute if the creditor is aware of and agrees with an inaccuracy.