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Paid collection account, still reported as charge off?

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Anonymous
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Paid collection account, still reported as charge off?

I just saw EX updated the collection account on my report from Portfolio. It now has a zero balance (yay!) but it's also reporting as a charge off for July and June. It was paid June 24th. (No other balance history reporting other than that.) Is that correct? Should I be disputing that with Experian?

Message 1 of 14
13 REPLIES 13
Anonymous
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Re: Paid collection account, still reported as charge off?

Who is reporting?

Message 2 of 14
Anonymous
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Re: Paid collection account, still reported as charge off?

Looks like its Portfolio. They updated my account in June after I'd disputed rogue payments reflecting on my Experian report. When the collection updated in July, it says paid but under the payment history it still says charge-off. 

 

(TU and EQ aren't reporting charge off each month, and the payment hasn't been recorded on those yet.)

Message 3 of 14
Anonymous
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Re: Paid collection account, still reported as charge off?


@Anonymous wrote:

Looks like its Portfolio. They updated my account in June after I'd disputed rogue payments reflecting on my Experian report. When the collection updated in July, it says paid but under the payment history it still says charge-off. 

 

(TU and EQ aren't reporting charge off each month, and the payment hasn't been recorded on those yet.)


AFAIK, only the OC can report a CO, a CA must report it as a collection, paid or not. A collector cannot report a payment history. In the payment history for Experian, it should just show a C (for collection) for each month that portfolio reports it and "ND" for months they did not report. Yes, they can (and Portfolio often does) report every single month.

Message 4 of 14
Anonymous
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Re: Paid collection account, still reported as charge off?

So they can report failed to pay even after it's been paid in full!?

It's showing charge off on June and July, no data on any other months on the Experian app. On their website it's reporting failed to pay for the same two months, no data outside those dates. On both versions they say closed, collection account. (Debt factoring account is now gone on those, too.)

Does this mean they can still update every month? The balance is zero, I have a letter detailing the payment closes the account.
Message 5 of 14
RobertEG
Legendary Contributor

Re: Paid collection account, still reported as charge off?

As Norman stated, the charge-off was done by the creditor, not the debt collector.

 

Commercial credit reports often include a summary of information, such as delinquency status and payment history, all derived from history on the OC account.

That does not mean that the delinquency or CO was done by the debt collector.

 

A charge-off, once taken, is a historical fact that is not later altered by payment or non-payment of the debt.

 

Has the OC also reported their account to the CRA, and if so, what does it show?

Message 6 of 14
Anonymous
Not applicable

Re: Paid collection account, still reported as charge off?

Charge off was in 2011. Original creditor is long gone from my CR. Just portfolio remains. They've had it since 11/2012. The charge off itself is not new. The payment was the only activity on that collection since its inception. June updated to report charge off on the payment history.

This is why I'm confused as to why it's now being reported as a charge off for only two months (including the month AFTER it was paid). It has not reported any other monthly payment history until June of this year.

Message 7 of 14
Anonymous
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Re: Paid collection account, still reported as charge off?


@Anonymous wrote:
So they can report failed to pay even after it's been paid in full!?

It's showing charge off on June and July, no data on any other months on the Experian app. On their website it's reporting failed to pay for the same two months, no data outside those dates. On both versions they say closed, collection account. (Debt factoring account is now gone on those, too.)

Does this mean they can still update every month? The balance is zero, I have a letter detailing the payment closes the account.

Once its paid, and updated as such, they have no further need to update the account. Such updating for no valid reason could be considered abusive/harrassing behaviour.

Message 8 of 14
Anonymous
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Re: Paid collection account, still reported as charge off?

It looks like they updated it as paid and charge off at the same time for July and never adjusted June to reflect the payment. Should I wait until next month to see if it updates again? Or is this sufficient enough to request it be corrected through experian?
Message 9 of 14
Anonymous
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Re: Paid collection account, still reported as charge off?


@Anonymous wrote:
It looks like they updated it as paid and charge off at the same time for July and never adjusted June to reflect the payment. Should I wait until next month to see if it updates again? Or is this sufficient enough to request it be corrected through experian?

No, they do not change (or even report on) the earlier months. They simply report the current status each time they report. Experian just keeps a running "tally" of the reports in that particular section of their reports. The CA *should* stop updating at this point, and there will be no more months showing any payment status. All of the previous hisotry will remain.

 

What month it was reported as paid is not really relevant - as long as its paid.

Message 10 of 14
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