What kind of practice is this?

[sphinx313]

I had an old installment loan for $2,200 in 2007 from a local furniture store in Florida. I moved away from Florida and my stepfather took over the payments and the furniture. Long story short, AS USUAL you shouldn't trust anyone to pay anything and he let it go with only $140 to go. I disputed the account because I believed the balance was wrong, they updated and tanked my score by 30 points. My score went from 567 down to the 540's. I thought to myself for a while how disputing this would cause the drop, and then I saw this:

30 days late60 days late90+ days late

5 times

4 times

43 times (Sep 2012, Aug 2012, Jul 2012, Jun 2012, May 2012, Apr 2012, Mar 2012, Feb 2012, Jan 2012, Dec 2011, Nov 2011, Oct 2011, Sep 2011, Aug 2011, Jul 2011, Jun 2011, May 2011, Apr 2011, Mar 2011, Feb 2011, Jan 2011, Dec 2010, Nov 2010, Oct 2010)

What the heck is this? They are reporting me late every month since 2009? How is that even possible? According to SW I was late last month...on THIS account. Whatg kind of BS is this? I am so angry. Can someone explain this practice? I have tried a PFD and they told me their "automatic tape cannot be altered" blah blah.

[llecs]

When an account goes bad, it'll start with 30 days, then a 60, 90, and so on. They are allowed to add lates monthly and increase the balance due to interest up to the point it is paid off or sold to a CA. Unfortunately some mis-report, but they do so in your favor by not adding lates and/or not increasing the balance. A dispute will regretfully set that straight and that's why you see the added lates and the score drop. 

I'd send a PFD. 

[RobertEG]

Reporting of a status of the same level of delinquency after its occurence is most likely simply a monthly reporting that includes the current level of account delinquency, and not the reporting of a new delinquency.  Totally proper.

[sphinx313]

Ok I understand. I already PFD'd them and they told me they couldn't adjust their "automatic tape" on their credit reporting. Anyway. I almost want to offer a settled amount just so it will stop reporting late because it doesn't look good.

[Shogun]

At least it's got some age to it as far as exclusion in a year or two.

[sphinx313]

Well the DOFD is sometime in 2009, but they keep reporting late and for $140 it just kills me lol. I offered them $75 to change to PIF otherwise I won't touch them until/if I need a home loan.