Credit balance decreasing daily with Midland

[MissMia75]

I disputed a couple of Midland trade lines and each time I check my results on TU I see that the balances are decreasing.  Does anyone know what causes this?

[MissMia75]

Bump

[Chopbrocoli]

Hi Mia,

What exactly did you dispute? 

[MissMia75]

I disputed the accuracy of the account.  The inaccuracies are that they are reporting a collection that is "open" as well as it being a revolving debt.

[Chopbrocoli]

The term "open" does not literally mean that the account is open. This is a common area of confusion for customers. In accordance with the Metro 2 credit reporting guidelines, factoring companies are required to report accounts with a designation of "open" in the portfolio type field. This means that the entire balances is due at one time This is the nature of a charged off account. The entire balance is past due; therefore, the entire balance is due at any given time. As well, I'm assuming your account was a previously charged off CC? If so, then the mark notates that it was a revolving type of an account. 

[MissMia75]

I dont think that is the case here.  They are reporting as if I have some sort of line of credit with them.  A collection agency cannot report an OPENED account with terms (in this case exceeds 1 month) as well as report 30,60-90,120+ days late.  Those are the inaccuracies I am referring to.