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Established Member
romyjoey3
Posts: 29
Registered: ‎11-10-2011

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

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‎10-25-2012 10:27 AM

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?
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Established Contributor
madmann26
Posts: 993
Registered: ‎08-30-2012

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

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‎10-25-2012 10:31 AM

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 649 EQ 658 FICO 5/13/2013
What's in my wallet? Cap1 PLAT AU $750; Cap1 Cash AU $1500; NFCU Siggy $10000; $500 WalMart SC
Goal Score: 700 across the board.
Take the FICO Fitness Challenge
My Journey
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Established Member
romyjoey3
Posts: 29
Registered: ‎11-10-2011

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

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‎10-25-2012 10:33 AM

Showing as Aac - might be a collection for Sears? Not sure.
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Established Contributor
madmann26
Posts: 993
Registered: ‎08-30-2012

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

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‎10-25-2012 10:35 AM

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 649 EQ 658 FICO 5/13/2013
What's in my wallet? Cap1 PLAT AU $750; Cap1 Cash AU $1500; NFCU Siggy $10000; $500 WalMart SC
Goal Score: 700 across the board.
Take the FICO Fitness Challenge
My Journey
Message 4 of 6 (161 Views)
 
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Established Member
romyjoey3
Posts: 29
Registered: ‎11-10-2011

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

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‎10-25-2012 10:37 AM

Yes
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Established Contributor
madmann26
Posts: 993
Registered: ‎08-30-2012

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

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‎10-25-2012 10:43 AM

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 649 EQ 658 FICO 5/13/2013
What's in my wallet? Cap1 PLAT AU $750; Cap1 Cash AU $1500; NFCU Siggy $10000; $500 WalMart SC
Goal Score: 700 across the board.
Take the FICO Fitness Challenge
My Journey
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