Question

[Anonymous]

Should collection account have an open status? 

[Anonymous]

I guess they can be open?  Not sure.  You will have to wait for someone who knows about this.  

[RobertEG]

Any reported collection has an open status, and the open date can be reported as the date they received their collection authority, either by assignment of collection authority from the current owner, or by way of their purchase of the debt.

Open status of a collection is unrelated to the open date of the OC account.

A collection remains open until the debt is paid or the eollction authority of the debt collector is othrewise termianed, such as by the owner terminating thier collection assignement, or if the debt collector owns the debt, their sale of the debt to another.

[Anonymous]

I have a collection that show Open Type and Open Status with scheduled payments. I didn't even know about the accounts to have scheduled payments. Is this legal?

Thank you

[gdale6]

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@Anonymous wrote:

I have a collection that show Open Type and Open Status with scheduled payments. I didn't even know about the accounts to have scheduled payments. Is this legal?

Thank you

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A collector should not be showing a monthly payment history nor scheduled monthly payments on a on going basis. They can say total amount of collection is due in 1 month.

[Anonymous]

Thank you,  how do I dispute this

[Anonymous]

Need advise on how to dispute please. Thank you

[gdale6]

If they are reporting a monthly payment history like an OC or are saying there are scheduled monthly payments or showing as a factoring company you would file a CFPB complaint against the collector for improper reporting. The can say the entire amount due as 1 payment.

[Anonymous]

Thank you so much,  it's as if you read my report. They are saying they are a factory company too. I didn't know all of this and I just filed a complaint with the BBB so you are telling me that I should file with CFPB. Do you have a sample letter for this and if so would you mind sharing or pointing me in the correct direction for one.

[gdale6]

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@Anonymous wrote:

Thank you so much,  it's as if you read my report. They are saying they are a factory company too. I didn't know all of this and I just filed a complaint with the BBB so you are telling me that I should file with CFPB. Do you have a sample letter for this and if so would you mind sharing or pointing me in the correct direction for one.

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Since you filed with BBB wait for its completion before you move on to the CFPB sometimes they get results. There is no letter a complaint is filed on the CFPB website and is pretty much cut and dry, this would be a debt collection complaint.

http://www.consumerfinance.gov/complaint/