Paid collection account reporting as open

floweryu · ‎08-12-2015

I had 2 collection with Portfolio Recovery Associates and both of them are paid. However, both of them are reporting as *open*, which is not true. They are also reporting as factoring accounts, which is not true. I am attaching a screenshot. I disputed via CFPB and Portfolio replied by saying that they purchased that debt and that it was paid and that they are providing the correct information (which they are not because they are reporting an open account). What should be my next step?

CH-7-Mission-Accomplished · ‎08-12-2015

No, it shows as paid and closed. It shows the account type as open, which is how AMEX and some other accounts report. An open account type is not the same as an open account. And yours shows paid and it shows the date paid.

floweryu · ‎08-12-2015

Oh, OK. Thanks for the clarification!

Anonymous · ‎08-13-2015

Yes, an "open account" type is an account that is due and payable in full each month - like AmEx charge cards.

floweryu · ‎08-13-2015

Any suggestions on what to do? This is definitely not a charge account. It is closed and paid.

EddieK · ‎08-13-2015

Send them a GW letter.

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RobertEG · ‎08-13-2015

Yes, the term "Open" can also be used to designate a debt type.

Debts can be Revolving (amount due revolves around current debt balance), Installment (fixed payment each billing period), and Open (full amount due upon billing).

When used to desginate a type of debt, it is being used in a totally different context than the status of an account.

HSBC retail cards are revolving, not open, debt types, having an approved credit limit upon which the consumer uses up to that amount at theri discretion.

It is not reporring as a Open account.

floweryu · ‎10-16-2015

I finally received the BBB response today and PR replied that they are not a factoring company and that the account should not be reporting as such and that they are initiating investigation. Let's see what happens.

floweryu · ‎10-27-2015

I just received a response via BBB:

PRA has reviewed all relevant information, including the information provided by the consumer, we have resolved the complaint (e.g., verified account information with regard to the two relevant accounts and requested that the credit reporting agencies Equifax, Experian and TransUnion delete PRA's trade line for those accounts from their consumer reports) and we have mailed and will be mailing responsive letters which the consumer may expect to receive within seven to ten business days.

It's been a while and I tried several times, but they did delete at the end.