Late monthly's reports on closed account?

[Sxott]

If an account has been closed for years, Can the OC still keep posting missed monthly payments? I tried paying them to get my balance to zero so it would make my credit to debt ratio go down ( even thou its time-barred already ), but they wouldnt take my payment because it is in their collections now and has been closed for years. I asked if thats the case, can they change my balance to zero and I will deal with the CA via mail. It ticked them off and the only thing they changed was adding 69 "90 lates" and then topped with a recent "120+ late" Score took a 30 point dive. Does that seem right?

[guiness56]

If it is an unpaid CO or collection and they still own it, yes they can.  It sounds like they assigned it the CA so pay the CA and the OC will have to update to a 0 balance.

[RobertEG]

If you have unpaid debt, there are only two mays the creditor will update the debt balance to $0.

Either they sell the debt, or you pay it.

The FCRA requires that reporting not knowingly be inaccurate, it does not regulate how soon after a delinquecny it must be reported.

They can always, at any time, revise their reporting to correct or supplement as long as what is reported is not knowingly inaccurate.

So, yes it is permissible provided the delinquencies actually occured.

If they require that any payments must be made through their assigned debt collector, you have no option.

If the debt collector has not yet reported their collection, you might offer them a pay-for-not reporting, which would, if they accept, prevent further damage.