Pinnacle Reporting a 5 YO cell bill as Open factoring Co. that is 120 days past due.

[DaBears]

I called my consumer attorney on this. There is no violation and unfortunately there is nothing the FDCPA or FCRA can do. Nothing illegal at all for them to report like this.  

[Shogun]

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@DaBears wrote:

I called my consumer attorney on this. There is no violation and unfortunately there is nothing the FDCPA or FCRA can do. Nothing illegal at all for them to report like this.  

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+1

They are allowed to report as a factoring company.  I don't agree with the underhand tactics in this, but I will submit that it is OK for them to do that.  However, while listing themselves as a factoring company, it gives them the ability to report as an OC would.  They can change the DOFD, they can post monthly derogs, etc.  This is where the situation gets a bit sticky.

[guiness56]

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@Shogun wrote:

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@DaBears wrote:

I called my consumer attorney on this. There is no violation and unfortunately there is nothing the FDCPA or FCRA can do. Nothing illegal at all for them to report like this.  

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+1

They are allowed to report as a factoring company.  I don't agree with the underhand tactics in this, but I will submit that it is OK for them to do that.  However, while listing themselves as a factoring company, it gives them the ability to report as an OC would.  They can change the DOFD, they can post monthly derogs, etc.  This is where the situation gets a bit sticky.

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The only way they can change the DoFD is if the OC did not report it to them or the CRA.  They had to make a good faith attempt to get the DoFD from the OC or the CRA, if they can't, then they can use a DoFD that is not later than the date they acquired the account.  However, if you can prove what the DoFD is, they have to change it to the correct one.

[ig]

I'm curious to see how I or anyone will figure how or give me advise on how to  dispute or even ask for help on a situation that is taking place in my report, I currently have two Pinnacle on my report not claiming to be a collectors or new owners or what the account is or what it use to be all,  it is stating is that I am delinquent and as of yet have summit's 0 payments

 on my report it is written as>pinnacle being a factoring companies

                                           >a open account

                                           >120+days past due

now on my report Pinnacle is displayed twice with different dates not being accurate with the time frame for instance; as shown on my report

1st.Date open: Sept 2010

last activity May 2010

amount $688.

2nd.Date open: Nov.2010

last activity Aug.2008

amount $2040.

Both indicate that they are open and are currently delinquent of 120+ days past due.....Now if you look at the dates and the amount it has me confused and with no clue as to what I can do because this CLEARLY show any one who is running my report for any future info for potentially lending me or what have you, that my score is horrible and I am unreliable of making any payments or even resolve this matter...So what do I do now......I hope someone can advise me with help or give me some kind of peace of mind....