What should I do with this collection account?

[Searay255]

This is a Verizon Wireless account. This only shows up on my Equifax report. Should I pay it? Try for a PFD? Or just wait for it to fall off? What date would it fall off? It says that the date of the first major delinquency is 07/2013. This is off by about 4 1/2 years. Thanks for any advice you can give me.

Status: COLLECTION ACCOUNT  Account Owner: Individual Account.  High Credit: $207   Type of Account : Open Credit Limit:   Term Duration:   Terms Frequency:   Date Opened: 07/01/1999   Balance: $207   Date Reported: 05/11/2014  Amount Past Due: $207  Date of Last Payment:   Actual Payment Amount:   Scheduled Payment Amount:   Date of Last Activity: N/A Date Major Delinquency First Reported: 07/2013  Months Reviewed: 1  Creditor Classification:   Activity Designator: N/A  Charge Off Amount:   Deferred Payment Start Date:   Balloon Payment Amount:   Balloon Payment Date:   Date Closed:   Type of Loan: Telecommunication/Cellular  Date of First Delinquency: 01/2009  Comments: Consumer disputes this account information,
Collection account  

[myjourney]

Welcome to the forum 

Explain off by 4 1/2 years?

Sounds like you should be doing PFD's but the question above needs to be answered before determining if you should wait for it fall off as well 

[CaptainConcorde]

I would recommend contacting them with a PFD letter and going from there.  Get them to agree in writing to delete the account from the three CBs if you pay in full.  I wouldn't try waiting until it falls off because these things have a way of cropping back up to haunt you. 

Erik

[Searay255]

This was a charge for closing an account early. This occurred in early 2009 but yet they say the first major delinquency was in 2013.

[gdale6]

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@Searay255 wrote:
This was a charge for closing an account early. This occurred in early 2009 but yet they say the first major delinquency was in 2013.

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The DOFD is the key date its in 2009 the listing says so, the DOFMD is irrelevant in FCRA timetables a major derog is 90+ days and I guess they just didnt bother repporting it until 2013.

[myjourney]

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@Searay255 wrote:
This was a charge for closing an account early. This occurred in early 2009 but yet they say the first major delinquency was in 2013.

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PFD in that case

Even tho you could take a chance with a dispute for incorrect reporting which would probably get it updated which may benefit or hurt you.

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[Searay255]

I have read that people have trouble with PFD with Verizon. Any tricks to make this happen?