Status Updated vs Balance Updated

[Anonymous]

In trying to rebuild my credit, I had to dispute some items on all 3 credit reports. I still have 4 things reporting in CO. But, I have 1 items from 2014 reporting as a closed account (NEGATIVE). The last status updated was 06/15. Not sure why, but, now, it's showing balance updated in 10/17. That hurt my score a lot. Any suggestions on what to do? Should I do a PFD? It's an old Montgomery Wards account. Payment Status says Charge off. Past Due Amount - $100 and Balance shows as $378.

[Adkins]

Disputed items that come back as confirmed are updated because of the dispute process. The CA sent back current information so now it's updated with the most current information on your report.  A newer collection date hurts your score more than an older collection date. If the CA would do a PFD, that's what I would do - getting the account off your report will help immediately. Who is the CA?  What is the DOFD? How close is it to falling off your report?

[Anonymous]

With Experiank, it is just showing as a Closed Account, no CA....It has a along way to go to fall off, maybe 6/7 years since it just updated.. This was an item that I did not dispute, but, somehow it was updated. I am going to work on a PFD. I don't want this bringing my score down anymore.

[Adkins]

No, DOFD has nothing to do with the debt being updated. The DOFD doesn't change - you need to get your credit report to see when the account first became delinquent. The CA can update that you still owe the debt every month, but that's not what matters in terms of when the debt first became delinquent and will fall off your report. 

[Anonymous]

Thanks for the info! Something else on my credit report just upated to Date opened 08/01/17. That is not the case. This was from a few years ago. Can they do that?

[Adkins]

---

@Anonymous wrote:

Thanks for the info! Something else on my credit report just upated to Date opened 08/01/17. That is not the case. This was from a few years ago. Can they do that?

---

Is that the date the account was opened or the date the collection agency got the account?

[Anonymous]

It is the date Directv says it was opened. I haven't had DIRECTV in years, but, they decided to say they opened this account in 08/17. The date just updated. I have a credit report from 10/17 that shows the date of 2015. And the latest credit report from a few days ago says 08/17.

[Adkins]

---

@Anonymous wrote:

It is the date Directv says it was opened. I haven't had DIRECTV in years, but, they decided to say they opened this account in 08/17. The date just updated. I have a credit report from 10/17 that shows the date of 2015. And the latest credit report from a few days ago says 08/17.

---

You can dispute the open date. 

[RobertEG]

Yes, you can dispute the accuracy of any item of information in your credit file.

However, a dispute is limited only to the investigation and subsequent verification, correction, or possible deletion of the disputed information.  It does not compel the deletion of any information that is not subject to dispute.

In the case of an open date for an OC account, they must either verify the accuracy as reported or update so as to overcome any agreed inaccuracy.  The open date for an OC account is a required element of the reporting of an account, and thus resolution of any dispute will not compel the deletion of anything.  The CRA will either verify the accuracy or correct to the date asserted by the consumer.

The only scoring impact would be in length of credit history, which would add two years to the age of the account, and thus have some impact on average age of accounts.