Collection Agencies and Credit Reports

[alexhortdog]

Okay, I'm going to put this out there to see what you all think I should do at this point.  I think I may have a case with the BBB, but I'm not sure.

So I am looking on my credit reports (Equifax and Experian), and for these collection agencies, I see the following:

EQUIFAX

Asset Acceptance Corp:

Date Opened:  05/21/2012

Date Reported:  01/27/2013

Date Major Deliquency first Reported: 07/2012

Date of first Deliquency:  02/2010

Jefferson Capital:

Date Opened:  01/26/2010

Date Reported:  01/18/2013

Date Major Deliquency First Reported:  04/2010

Date of First Deliquency:  06/2009

LVNV Funding

Date Opened:  02/23/2010

Date Reported:  04/18/2012

Date Major Deliquency First Reported:  04/2010

Date of First Deliquency:  07/2009

How can the date of First Deliquency be less than the date opened if they are reporting this?  Collection agencies still have to report their information correctly even if they have purchased the debt, correct?

Can I send them each a letter telling them to remove the tradeline (via the BBB)?

[rckstrscott]

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@alexhortdog wrote:

Okay, I'm going to put this out there to see what you all think I should do at this point.  I think I may have a case with the BBB, but I'm not sure.

So I am looking on my credit reports (Equifax and Experian), and for these collection agencies, I see the following:

EQUIFAX

Asset Acceptance Corp:

Date Opened:  05/21/2012

Date Reported:  01/27/2013

Date Major Deliquency first Reported: 07/2012

Date of first Deliquency:  02/2010

Jefferson Capital:

Date Opened:  01/26/2010

Date Reported:  01/18/2013

Date Major Deliquency First Reported:  04/2010

Date of First Deliquency:  06/2009

LVNV Funding

Date Opened:  02/23/2010

Date Reported:  04/18/2012

Date Major Deliquency First Reported:  04/2010

Date of First Deliquency:  07/2009

How can the date of First Deliquency be less than the date opened if they are reporting this?  Collection agencies still have to report their information correctly even if they have purchased the debt, correct?

Can I send them each a letter telling them to remove the tradeline (via the BBB)?

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I see nothing wrong. The opened date you see is the date in which LVNV, or Jefferson Cap opened their file on it. The DOFD is the older date; and the only one that really matters. This isnt the date the OC opened an account, just the collection account

-scott

[RobertEG]

+1

The term "open" is unfortunately used with multiple meanings in credit reporting.

There is the date opened of an OC account, which is the date of execution of the account agreement with them.

There is "open" type of credit, which relates to credit due immedately upon billing.

There is the open date of a collection, which is reportabble as the date they received collection authority, and is meaningful only in that they cannot thereafter report a DOFD that is later than that date.

[guiness56]

To add to this, the DoFD is the date that is used to determine when an item is excluded.  The date first major delinquency reported means nothing other than that is when it was first reported to the CRAs.