Why is this account being reported as 120+ days past due??

[romyjoey3]

The balance shows as $0?

Status as of May 2012
Opened June 2011
DOLA Dec 2008
Largest past balance $3931
Status: Open Account??
Industry: Factoring Companies
Current Balance: $0
Status: 120+ days past due
Descriptions:
Consumer disputes this account Info
paid collection

So ... why the 120+ status?

[madmann26]

Who is reporting it? That is some shady #(#( they are doing?

[romyjoey3]

Showing as Aac - might be a collection for Sears? Not sure.

[madmann26]

It's interesting how they list it.

Did the OC already charge-off the debt or list the debt as charged-off?

[romyjoey3]

Yes

[madmann26]

Factoring accounts.

Listen/read what I am saying.

"This type of reporting can only be applied to current, valid debt."

With that being said, the CA lists accounts this way as a why to further hurt your scores, possibly due to the way they are coded when reported. As with any debt, you have the right to challenge any/all information that is being reported, including the comment about it being a factored account. Read this thread:

http://creditboards.com/forums/index.php?showtopic=495445

I found that thread just this morning and have sent a similar letter to a different creditor who is doing the same crap.