Delinquent account listed as current?

[mspiggybank]

Hi All,

I just started the process and I've been poring over my reports and looking for inaccuracies. I'm trying to get a handle on the proper strategies for each of the baddies on my report. One thing I noticed is that Plains Commerce Bank is listed as a current account on my report even though I haven't made a payment since 2008. I opened the account in 2004 and was never late until I lost my job in 2008. The last payment I made was July 2008. 

Is there a reason this account is listed as Current on my report? Does that mean it is counting against my utilization? Copy of the report is below. I've highlighted in red the parts that are most confusing.

Thanks in advance!

PLAINS COMMERCE BANK/C Current Close Account Details 800-208-5095 2101 W 51ST STE 34 SIOUX FALLS, SD 57105
	Experian®	Equifax®	TransUnion®
Account Name	PLAINS COMMERCE BANK/C	PLAINS COMMERCE BANK	No Data Returned For This Bureau
Account #	[deleted by me]	[deleted by me]
Account Type	Credit Card	Revolving or Option
Balance		$0.00
Date Opened	9/1/2004	9/1/2004
Account Status Closed Open   Mo. Payment     Past Due     Payment Status Account transferred to another office Pays account as agreed High Balance   $1,510.00 Limit $1,510.00   Terms Revolving   Comments Transferred to another lender or claim purchased ACCOUNT TRANSFERRED OR SOLD CREDIT CARD
24 MONTH PAYMENT HISTORY     2006 2007                       2008                     DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK 30 60 90 120 OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK KD OK OK OK OK OK

[p-]

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@mspiggybank wrote:

Hi All,

I just started the process and I've been poring over my reports and looking for inaccuracies. I'm trying to get a handle on the proper strategies for each of the baddies on my report. One thing I noticed is that Plains Commerce Bank is listed as a current account on my report even though I haven't made a payment since 2008. I opened the account in 2004 and was never late until I lost my job in 2008. The last payment I made was July 2008. 

Is there a reason this account is listed as Current on my report? Does that mean it is counting against my utilization? Copy of the report is below. I've highlighted in red the parts that are most confusing.

Thanks in advance!  

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If I am reading this correctly, the balance is zero, meaning you either paid it, or it was charged off.  Did you pay it off in full?  If not, is there a matching collection account for it?  If it was sold or transferred, who owns the debt now?

It looks like Exp shows it as closed, but Eq shows it as open.  I'm not sure if that hurts you at much...  Even if it counts toward utilization they are reporting a 0 balance.

Your best course of action is to find out who owns it now, and negotiate a PFD.  Then, goodwill the heck out of the original creditor until they take the lates off or delete entirely.

[mspiggybank]

Thanks for the quick response. I think it is owned by Palisades. That is the only thing on my report that has a balance around that amount. I have a judgement from them but there is nothing listed on the actual report. I was wondering what Palisades is, but now it makes sense. So you suggest that I send a PFD to Palisades right away?

[guiness56]

It has a zero balance.  It also states it was sold or transferred to another lender.

A CO will not always have a 0 balance, only if it has been sold.

Is this showing up under your accounts in good standing or negative accounts?

Have you paid the judgment?

[mspiggybank]

@guiness56

I just doubled checked the report I got from USAA's credit monitoring system. It is listed as current and good in Experian and Equifax. It is also listed as a negative closed in TransUnion. (I didn't notice the transunion notation when I wrote the first post.)

On the TU report it says balance $1659, past due $339. Payment status is "charged off as bad debt" with the comment "purchased by another lender."

I have not paid the judgement at all. My delinquent accounts were triggered by my unemployment and I ended up moving to another state for work (from IL to NY), so I never received any paperwork regarding the judgement.

[mspiggybank]

Any suggestions on my next step with this issue? Should I send a DV letter or just jump straight to the PFD letter?