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Established Member
Posts: 31
Registered: ‎11-10-2011
0

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?
Valued Contributor
Posts: 1,546
Registered: ‎08-30-2012
0

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

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


Starting Score: EQ 511 TU 552 EX 545 8/29/2012
Current Score: TU 712|EQ 695|EXP 723 (FICO)
Total credit $185,250; Util 14%
Goal Score: 700 across the board.
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Established Member
Posts: 31
Registered: ‎11-10-2011
0

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

Showing as Aac - might be a collection for Sears? Not sure.
Valued Contributor
Posts: 1,546
Registered: ‎08-30-2012
0

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?


Starting Score: EQ 511 TU 552 EX 545 8/29/2012
Current Score: TU 712|EQ 695|EXP 723 (FICO)
Total credit $185,250; Util 14%
Goal Score: 700 across the board.
Take the FICO Fitness Challenge
My Journey
Established Member
Posts: 31
Registered: ‎11-10-2011
0

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

Yes
Highlighted
Valued Contributor
Posts: 1,546
Registered: ‎08-30-2012
0

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.


Starting Score: EQ 511 TU 552 EX 545 8/29/2012
Current Score: TU 712|EQ 695|EXP 723 (FICO)
Total credit $185,250; Util 14%
Goal Score: 700 across the board.
Take the FICO Fitness Challenge
My Journey
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