Collection Agencies can report late payments?

[Kathy4NU]

I have one reporting on Equifax the same way.  Mine is from my ex-husbad writing a check that bounced.  It is being reported as 120+ days late for the last 6.9 years!  I have never heard of the collection agency nor have I heard from them.

I disputed it and it came back saying it was verified!  I even admitted in the dispute that this was for a bad check and it should be reported as a collection.  How can a check for $33 be reported as 120+ days late for that long.  I decided to just leave it alone and not press the issue since it will fall off in April and I am not needing any new credit between now and than.

[guiness56]

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@SLR72689 wrote:

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@RobertEG wrote:

+1

The problem with most commercial credit reports is that they include information without detailing which segment of the consumer's credit file it was extracted, the reporting party, etc.  They often compound the confusion by listing information taken from one segment of the credit file under a heading that implies it was reported by another.

Reporting by debt collectors is retained in an entirely different portion, called the K-segment, of the consumer's credit file.

Lates are not reported by debt collectors.  They do not even have reporting codes to do so.  Their codes for reporting OC account payment rating, which is the last level of delinquency of the account under collection, arent the reporting of a delinquency billed by them. 

You may simply have a poorly formatted credit report.

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I get my reports from my bank's (5th 3rd) Identity Protection program.  I don't know how good those reports are. It doesn't even show up for the report on MyFico.

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I would suggest getting reports from annualcreditreport.com.  They are free from each CRA every 12 months.  Since they are directly from the CRA they are more accurate and detailed.