Open collection vs CLOSED collection? PLEASEEE HELP!

[Anonymous]

So I disputed some of my accounts in collections, because some info was incorrect...Long story short, I have an account in collections

Original creditor: HSBC BANK

CA: Midland Funding

Before the disputes and today, the account always showed as 'open'. But I logged in today and noticed it moved to 'closed' collections. Does this mean they are no longer trying to collect on this? This is said to fall off 4/2016...Can I call Transunion to have them remove this? 

I'm a little confused what significance it has from being open to closed, the balance is still unpaid. Is there any way to have this completely removed? Or just wait it out??

Account #1

$600

Balance

HSBC BANK NEVADA N A

Original Creditor

$447

High Balance

Dec 30, 2011

Opened Date

Jul 03, 2015

Last Reported

Individual

Responsibility

Account information disputed by consumer, meets FCRA requirements

[gdale6]

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@Anonymous wrote:

So I disputed some of my accounts in collections, because some info was incorrect...Long story short, I have an account in collections

Original creditor: HSBC BANK

CA: Midland Funding

Before the disputes and today, the account always showed as 'open'. But I logged in today and noticed it moved to 'closed' collections. Does this mean they are no longer trying to collect on this? This is said to fall off 4/2016...Can I call Transunion to have them remove this? 

I'm a little confused what significance it has from being open to closed, the balance is still unpaid. Is there any way to have this completely removed? Or just wait it out??

Account #1

$600

Balance

HSBC BANK NEVADA N A

Original Creditor

$447

High Balance

Dec 30, 2011

Opened Date

Jul 03, 2015

Last Reported

Individual

Responsibility

Account information disputed by consumer, meets FCRA requirements

---

You cannot call TU yet and ask for the EE its 6 months in advance of the scheduled drop date. I would send the OC a PFD offer ifthey dont accept then wait it out.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Q-amp-A-Examples-and-PFD-Success-Stories/td-p/2031275

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/PFD-Example-Letter/td-p/4519

[RobertEG]

All collections have a status of Open until the debt collector is no longer collecting on the debt due either to the debt being discharged, the owner of the debt rterminating their collection authority, or they owned the debt and have sold it.

The Open date is reportable as the date their recieved their collection authority, and is totally unrelated to the Open date on the OC account.

The Open date is not relevant to credit reporting other than it affixes the latest date that a debt collector would report as the DOFD.  Otherwise , it is of no scoring concern.

If a debt collector has reported their collection to be Closed and the debt remains unpaid, CRA policy is that they should then delete the collection.

The CRAs have that policy in order to preclude the possiblity of two collections being simultaneously shown in your credit report for the same debt.

Send the CRA a dispute of the collection as no longer having collection authority, and reference the CRA policy that the collection be deleted.

[Anonymous]

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@RobertEG wrote:

All collections have a status of Open until the debt collector is no longer collecting on the debt due either to the debt being discharged, the owner of the debt rterminating their collection authority, or they owned the debt and have sold it.

The Open date is reportable as the date their recieved their collection authority, and is totally unrelated to the Open date on the OC account.

The Open date is not relevant to credit reporting other than it affixes the latest date that a debt collector would report as the DOFD.  Otherwise , it is of no scoring concern.

If a debt collector has reported their collection to be Closed and the debt remains unpaid, CRA policy is that they should then delete the collection.

The CRAs have that policy in order to preclude the possiblity of two collections being simultaneously shown in your credit report for the same debt.

Send the CRA a dispute of the collection as no longer having collection authority, and reference the CRA policy that the collection be deleted.

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I'm sorry to resurrect a dead thread, but this is the first time I've heard of this CRA policy of deleting an unpaid closed account. My first LoC ever, a credit card when I was a senior in highschool, was in connections but has been closed for several years now, and remains unpaid. I was under the impression I still needed to wait 7.5 years past the DoFD, which was Oct 2009.

So I could have had this taken off my report years ago? Really wish I had visited these forums years ago. Thank you, Robert, for all the great information. Your posts are always high quality.

EDIT: just realized the error in my logic, I think, anyway. You were referring to a CA, not the OC, correct? First Financial Bank USA is the OC and the only one reporting that account as closed. So that would need to stay on my report for 7.5 years, correct?