09-03-2012 10:17 PM
My Verizon account on EQ shows the following (its the only account that I have that is still reporting as late but its PIF)
Account Type: Open Account
Date Opened: 7/1/07
Account Status: Open (Shouldn't it be closed?)
Past Due: (Left blank)
Payment Status: At least 120 days or more than four payments past due (On other reports it says "Paid, was a collection account or paid after charge off/collection" (Shouldn't EQ report this as "Paid?" Also, is it ok for them to say it was prior collection in payment status?)
High Balance: $109.00
Comments: Paid Collection
My questions are in orange/reddish text. Basically, shouldn't the account be reported as closed? Shouldn't account payment status be paid? And finally, is it ok to put payment status as "was prior collection?" I'm wondering if this still reporting as a delinquent account is hurting my EQ score.
09-03-2012 10:22 PM
Agreed. It should be marked as paid/closed. Yes it can say paid collection.
09-04-2012 05:23 PM - edited 09-04-2012 05:29 PM
Payment Status means how the payments were paid over the history of the account. ( over the last 7 years).
So, if you did have a 120 day late or more then 4 lates, then it's reporting correctly.
Send a GW letter, ask if the lates can be removed.
ETA...yes it's hurting your score. 90 hurts more then 30/60, 120 days hurts more then 90.
09-04-2012 06:04 PM
Since this is the OC that is posting I would say yes, they can have that status. Start the GW process and see what happens.
09-04-2012 09:02 PM
Ive gone through about 5 GW letters. Each one gets rejected. This is ridiculous for such a small debt.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO