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

Established Member

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

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?
Message 1 of 6
5 REPLIES
Valued Contributor

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

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

Scores: about 700 across the board
Total CL: $275k
Message 2 of 6
Established Member

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

Showing as Aac - might be a collection for Sears? Not sure.
Message 3 of 6
Valued Contributor

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

It's interesting how they list it.

 

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

Scores: about 700 across the board
Total CL: $275k
Message 4 of 6
Established Member

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

Yes
Message 5 of 6
Highlighted
Valued Contributor

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

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.

Scores: about 700 across the board
Total CL: $275k
Message 6 of 6