Collections reported as open on tu

[Anonymous]

Help... are collections accounts reported as open on tu correct is this how they do it

[Anonymous]

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@Anonymous wrote:
Help... are collections accounts reported as open on tu correct is this how they do it

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I believe if the collection amount is greater than $0 it reports as open collections

[RobertEG]

The status of a collection is separate from the status of the OC account.

Any collection has an Open status while they still have collection authority.  That is accurate.

The Open date is reportable as the date their received their collection authority.

A collection remains Open until either the owner terminates their assigned collection authority, the debt is paid, or if the debt collector owns the debt and sells it to another.