Collection report as "collection" and "open account"?

[maygirl]

Here is mine.. Credit Account      Midlandmcm      There is no dispute and it doesn't have a negative indicator... But says I was late 90 days 2x in March!! I don't understand how they can report this way if it is a collection...

Status as of Date opened [?] Date of last activity [?] Largest past balance [?] Account Type [?] Account holder [?] Industry

May, 2012

Feb, 2012

Aug, 2009

$1,991

Open Account

Individual

Factoring Companies

Descriptions [?]

• Collection account

No contact information provided by Equifax

Balance [?] Current Status [?] Past Due Amount [?]

$2,625	120+ days past due	$2,625

Seven year payment history [?] 30 days late 60 days late 90+ days late

0 times

0 times

2 times (Apr 2012, Mar 2012)

Recent payment history [?]             5                      6                      7                      8                      9                      10                      11                      12                      1                      2                      3                      4                      5                      6                      7                      8                      9                      10                      11                      12                      1                      2                      3                      4                        2010                          2011                          2012           

Legend:	Not Open
	120 days late

[tammyjk]

Robert is exactly correct.  I disputed Midland doing this exact same thing to me.  When I did dispute it I informed them that I never agreed to pay them nor have I ever made a payment to midland.  I also sent over a fax to Midland asking them to remove the dispute remark. They will ask you to fax a statement claiming responsibilty LOL....please dont do that.  I sent a fax that stated " I am not disputing this account at this time.  Please remove the dispute remarks from my credit reports."  Jefferson Capital and Midland are very good for doing this.  That way they can ding your credit every few months.  This is how it now appears on my report no payment history ect. 

Original Creditor:	ASPIRE VISA	Account No.:	xxx	High Balance:	xxx
	Date Opened:	12/10/2007	Date Reported:	05/15/2007	Balance:	xxx
	Condition:	Derogatory

[golo]

Robert,and what is going to happen by disputing with the debt collector?

[tammyjk]

I got fed up with their nonsense.  They kept reporting 120 day lates every 4 or 5 mos.  Then they would correct them after I disputed.  Finally I contacted the BBB.  It took aprox one week and I just got the letter today stating they would delete from all three.  Needless to say I am very happy!

[AndySoCal]

The open account is not referring to if the acount is open or closed.  The open account in this case is the account type. Open account type is sometimes referred to as a single payment account.. Collection accounts and charge cards are a couple of account types that fall in this catagory. A charge card being the type of card where thebalance in full is due each month.  The 120 days past is correct  as well it 120 days late from the date the acocunt wqas opened at the collection agency. It is also 120 days past from the date the payment was due to original creditor.

[RobertEG]

The term "open" is, unfortunately, used in different contexts with very different meanings.

Repayment of debt is established under account terms as either revolving, installment, or open.  Open is the designation for account types wherein the debt is due in full at the next billing statement.

Use of the term "open" in the context of account status has nothing to do with the use of that term wrt account/debt type.

All collections have a status of Open until either deleted or closed.

[tammyjk]

The problem is they continue to mark 120 days late AFTER the account was held by collections.  This they cannot do if you have made no arrangements with them for payment.  I just had Jefferson Capital deleted for this very thing. 

[golo]

Do you mind sharing how did you do it? Thanks in advance.

[tammyjk]

Equifax removed through a dispute for this reason.  TU and EX would not, they continued to allow JC to correct and then mos later put the 120's back.  I finally contacted BBB and had them removed.