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Regular Contributor
Mish0817
Posts: 169
Registered: ‎12-02-2012
0

Collection accounts

Can someone tell me where collection accounts should be listed on my CR? They are all listed under accounts and say OPEN not under collections is this correct? I thought it messes with my utilization and harder on score is this incorrect?



Eq 675
TU 681
Ex your guess is as goodas mine!

Nfcu Cash Rewards 15000, Nfcu nRewards Mc 15000, Walmart 600, Target 400, VS 650,Capital one 3750, Us Bank 300, Discover 4500,Citi DP 1500, Chase Freedom 2000. And I'm done...... no more cards just going to tend my garden
Regular Contributor
raisinitup
Posts: 224
Registered: ‎12-11-2012
0

Re: Collection accounts

I have the same question. I have one on my EQ listed under both the account section and the collections section. I'm sure that's killing my score since that seems like it updates every month.
12/11/12 Starting Score EQ FICO - 583/ TU FICO - 615/
4/1/13 - Lender Pull - TU - 645 EQ - 675 EX 712
Each One - Teach One
Senior Contributor
DaBears
Posts: 3,930
Registered: ‎10-26-2012
0

Re: Collection accounts

I have the same thing, I sent all my Credit Reports to my Consumer Attorney. He stated that the CA is reporting them as loans which is ILLEGAL and they changed the DOFD. I have 6 being removed and cash heading back my way for for violating the FCRA Act. 2013 is going to be a awesome year for me!!!!

 

Regular Contributor
Mish0817
Posts: 169
Registered: ‎12-02-2012
0

Re: Collection accounts

did your attorney tell you under what statute it states this?



Eq 675
TU 681
Ex your guess is as goodas mine!

Nfcu Cash Rewards 15000, Nfcu nRewards Mc 15000, Walmart 600, Target 400, VS 650,Capital one 3750, Us Bank 300, Discover 4500,Citi DP 1500, Chase Freedom 2000. And I'm done...... no more cards just going to tend my garden
Senior Contributor
DaBears
Posts: 3,930
Registered: ‎10-26-2012
0

Re: Collection accounts

I live in Chicago and will listen to him then anyone else. A CA can not change the DOFD and can not change the date when it was place for collection, if they do they re-age the account which is illegal. I sent him all three credit reports and he found 6 violations in each file from the same CA. He is on the Bar association for IL and has excellent success with CA's and CRA's. He doesn't charge his clients, he gets his big dollars from the CA's when he takes them to court.

Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008
0

Re: Collection accounts

The FCRA. 


Mishwatson wrote:

did your attorney tell you under what statute it states this?


 

Regular Contributor
Mish0817
Posts: 169
Registered: ‎12-02-2012
0

Re: Collection accounts

thanks, so if CAs are reporting this way I should dispute with CRA? I just recently DV 5 out of the 5 that are misreporting I figured Id give them a few weeks to respond then  dispute with all three CRA what do you think?



Eq 675
TU 681
Ex your guess is as goodas mine!

Nfcu Cash Rewards 15000, Nfcu nRewards Mc 15000, Walmart 600, Target 400, VS 650,Capital one 3750, Us Bank 300, Discover 4500,Citi DP 1500, Chase Freedom 2000. And I'm done...... no more cards just going to tend my garden
Regular Contributor
raisinitup
Posts: 224
Registered: ‎12-11-2012
0

Re: Collection accounts

So should we contact the OC or the CRA to get it corrected ? And on what grounds should we be disputing ?
12/11/12 Starting Score EQ FICO - 583/ TU FICO - 615/
4/1/13 - Lender Pull - TU - 645 EQ - 675 EX 712
Each One - Teach One
Moderator
Shogun
Posts: 12,952
Registered: ‎04-15-2011
0

Re: Collection accounts

Sometimes they will list themselves as factoring companies and will show up in the OC area because they will list as open.  Big grey area on this, it gives them the ability to post as the OCs can.


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Regular Contributor
raisinitup
Posts: 224
Registered: ‎12-11-2012
0

Re: Collection accounts

In my situation, it's is the OC only that's posting in both areas. No CA involved at all.
12/11/12 Starting Score EQ FICO - 583/ TU FICO - 615/
4/1/13 - Lender Pull - TU - 645 EQ - 675 EX 712
Each One - Teach One

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