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Equifax reporting

Regular Contributor

Equifax reporting

Hey all

I got a updated credit report and I have a chargeoff creditone bank card it was sold to LVNV after chargeoff. My question is can LVNV report this as 120+ days late or should it read something else it is in my account section and not the collection. I am trying to resolve this debt I have sent in a PFD letter in hopes they will except. Can anyone shed some light for me please

Message 1 of 11
10 REPLIES
Community Leader
Epic Contributor

Re: Equifax reporting

The CA dioes not report OC status or prior lates.

 

Message 2 of 11
Regular Contributor

Re: Equifax reporting

I've been wondering this as well. I had an old collection account that was reporting 120+ days late as well. Every month, the previous month would update to OK and the current month would report as 120+ days late. I was under the impression (from other MyFico contributors) that CAs couldn't report this way. If anyone could clarify this, that would be great!

Message 3 of 11
Regular Contributor

Re: Equifax reporting

So what should my next step be to dispute or what to see if they accept the PFD also is this dragging my score down cause it keep updating every month like this

Message 4 of 11
Regular Contributor

Re: Equifax reporting

Hi I have decided to dispute but haw should the disputed that a collection account cant report a 120+ days late. Can anyone direct me in the right direction and thank you RobertEG.

Message 5 of 11
New Member

Re: Equifax reporting

Hi Tinkytoo-

 

I had an old CreditOne account that was charged off to LVNV. Before I found out about these forums, I paid LVNV. LVNV is kinda tricky to find because they are also known as Sherman Financial or Resurgent Capital Services. I went to Resurgent Capital's website and found an email address. I sent an email asking for a GW deletion and I recv'd a letter stating that they would delete from the CRA's during the next reporting cycle. Maybe you should send your PFD to them instead of LVNV. Sorry about the 120 days reporting but I definitely think they're wrong.


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Current Score: 9/27/10 TU 594 EQ 584
Goal Score: 700 Club


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Message 6 of 11
Established Member

Re: Equifax reporting

I could not find any personal contact information for Resurgent. Could you PM me the info you used to contact them?

Thank you!

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Message 7 of 11
Community Leader
Epic Contributor

Re: Equifax reporting

I would first get a more complete credit report from annualcreditreport.com.

I doubt that, in your actual credit file, the CA has made any reporting of a 120-day late.  They dont have reporting codes to do this.

You dont have an "account" with a CA.  CA accounts are between the CA and the CRA.

I would suspect that what you are seeing a merger of information in your credit file in the commercial credit report that you have purchased.

They are notorious for reporting information without nailing down the actual party who reported it.

 

Message 8 of 11
Established Contributor

Re: Equifax reporting

RobertEG, I've actually seen this before.  A CA reporting monthly as a 120-days late.  It happens in Equifax, but not due to any merge errors, etc.  It's the CA reporting this.  The one I've seen has been reporting this way for 6 years, but I told the report owner not to wake a sleeping bear that it should fall off next year which ever month it was scheduled.  That's c-r-a-z-y!

Message 9 of 11
Community Leader
Epic Contributor

Re: Equifax reporting

Jay, that may be what you perceive, but I dont think that reflects the facts.

When a debt collettor opens a CA with the CRA, they simply have NO reporting codes to report any dates of delinquency under an OC account.  Totally separate accounts.  A debt collecftor cannot post to an OC account.   Just not possible.

You are seeing a consumer credit report that is simply not telling you the original source of the merged and confusing information that they are selling to you.

What you are seeing is the last and current date of the worst delinquency status reported by the OC, and merged into their credit report format as a sub-posting that they extract from your credit file, and then post to your consumer CR under a title they call your CA accounts, when it was not even posted by the debt collector.  It is just a crummy consumer credit report.

 

If you dont agree, then try filing a dispute of montly delinquency reporting allegedly done by a debt collector, under either FCRA 611(a)1), or the direct dispute process under FCRA 623(a)8), and provide a showiing that the debt collector inaccuracy reported this information. I dont think this will result,upon investigation,in showing of monthly delinquency reporting improperly done by a debt collector that was entered into the OC account segment of your credit file.

Message 10 of 11