Collection Accounts Showing as Individual/Open Accounts

[Anonymous]

Hello,

I had two Chase Credit Card accounts from 2009 that I had to let go into default and were eventually Charged Off. After reading quite a bit on this board I went through the process of disputing them because they were still showing as opened and reporting each month even though they were Charged Off and sold to a Collection Agency. The 3 Credit Reporting Agencies fixed this and marked them now as "Account paid in Full; was a Charge-off" with $0 Balances Due and remarks "PURCHASED BY ANOTHER LENDER".

These 2 accounts were sold to LVNV Funding, LLC which are now showing as Indiviual/Open Accounts on my credit report. Is this correct? They're reporting as if they're credit cards. They're shown on my report with "Loan Type: FACTORING COMPANY ACCOUNT" and "Remarks: >PLACED FOR COLLECTION<"

So my question is, is it reporting correctly? And does anyone know what that Loan Type is? I appreciate any help I can get. I'm trying to establish a plan for dealing with these 2 accounts so I can get them cleaned up.

[hoping2rebuild]

It doesn't matter where is shows on your CR it still reads it as a collection.

Factoring Company Account = CA or JBD's

[Anonymous]

Thank you.

Any recommendations on a next step?

I was thinking of doing a PFD for both accounts with LVNV and then once settled GW to Chase describing my situation and notifying them I've settled and paid both accounts.

[hoping2rebuild]

If they are your then I would PFD like mad,

I have sent so many PFD's, DV's etc...I know the

neighbors must think I am having an affair with the

mail man

[llecs]

Ditto. And I'll add that a charged-off account can report monthly and can report a balance. At some point the OC will sell the account to a CA at which point they'll stop adding lates and report $0. Downside a CA would report.