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So I've worked hard for the past two years to rebuild my credit. From a score in the mid 500's to 664. I was scouring through my report and found an account with a balance of $417 that was 120+ days past due. Given that I have no recollection, let alone record of the account I disputed it. Within a week I received a score alert letting me know that my score bumped up to 685. Upon further investigation I found the following:
[img] http://i45.tinypic.com/25uqz9i.jpg [/img]
I'm trying to wrap my head around what this is actually saying and how I should proceed. 1st, the date opened is more recent than the date of the last activity. 2nd, and correct me if I'm wrong, all the green dots seem to say that the payment was on time until last month? I'm just pretty confused as to what my next step should be.
Send a DV to put a collection bar on them. Pull your CR from the CRA's they are more detailed 3rd party report cn be wronf and off
Debt Validation.
Basically, you're asking them to prove you owe the debt.
See here: http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/What-Steps-Do-I-Take-Do-I-DV-PFD/td-p/337142
This also helps:http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Guide-To-Common-Abbreviations/m-p/224988
They are not required to "prove" that you owe the debt in order to validate.
They are required to obtain documentation that is sufficient to provide a basis for finding the debt as valid, and pass that determination on to the consumer.