Portfolio Recovey question

[DaBears]

Can they list how many days past due? On my equifax report they are not listed in collections but under accounts? I just caught this just now.

[SusieQ]

not sure what state you are in, but I am in NC.    They are reporting the same way on my credit reports considering themselves a debt buyer.   In NC, it is illegal to do:

NC incorporates a debt buyer under the definition of a collection agency and specifically defines a debt buyer as a person or entity engaged in the business of purchasing delinquent or charged-off consumer loans or consumer credit accounts, or other delinquent consumer debt for collection purposes, whether it collects the debt itself or hires a third party for collection or an attorney-at-law for litigation in order to collect such debt. SB 974 dictates both active and passive asset buyers are considered a collection agency.

My SOL runs out in 14 days and I am about to do battle with them.

[DaBears]

I live in IL. I just signed up to score watch had to verify a few things with myFico. Thank god I did. I dunno how I missed them reporting that way need to find out if they can.

[DaBears]

This is how its listed with Equifax.   Credit Account      Portfolio     

Status as of Date opened [?] Date of last activity [?] Largest past balance [?] Account Type [?] Account holder [?] Industry

Jan, 2013

Jan, 2011

Jun, 2010

$960

Open Account

Individual

Factoring Companies

Descriptions [?]

• Collection account

No contact information provided by Equifax

Balance [?] Current Status [?] Past Due Amount [?]

$1,055	120+ days past due	$1,055

Seven year payment history [?] 30 days late 60 days late 90+ days late

0 times

0 times

0 times

Worst Delinquency [?]

None Reported

The Worst Delinquency reports the worst missed payment status that has       been documented on this account.  Your FICO® score evaluates how recently       that missed payment occurred and in general, the more recent, the more impact       it has on your score.  However, the fact that it occurred is still predictive       of future payment risk and could be considered by your FICO® score.

[Jess421]

they are listing the same way for me as an accoutn not a collection.  I live in PA and I am unsure if this is illegal here.  They show as collections on 2 of my reports and as an account on another one

[Shogun]

This is due to the fact they are listing themselves as a factoring company which will sometimes list them in the OC category. They are a CA, we know it, they know it.  Now I don't like it but according to the rules, it isn't a violation.  They are not listing monthly lates, only stating the worst delinquency with the OC.  I actually don't see anything wrong with this listing from the information provided.

[DaBears]

The whole system needs to be overhauled!!!! On a side note is there a score watch app for androids?

[Shogun]

I don't know if there's an app or not, but yes, the whole system needs a good overhauling.

[guiness56]

Actually, they are reporting current status as 120+ days late, they can't do that.  It should say colleciton account or nothing.  In the worst delinquency it should say 120+ days late.

Yes, I firmly agree that there needs to be a complete overhaul in the reporting system.  And as much as I don't want to say it, it is not entirely the CAs fault.  They use the reporting resource and there are just too many loopholes in it.  Ok, an honest CA would do what is intended for them to use but we all have dealt with CA that believe they rule the world.

[DaBears]

Im really confused now. Im actually looking at my EQ report and the same account I posted here is showing nothing in current status. The one I posted was from score watch this morning showing the 120+ from EQ. Shaking my head.