arrow financial reporting 120 days late....

[pkenn]

id this legal????

Credit Account Arrow Ser

Status as of Date opened [?] Date of last activity [?] Largest past balance [?] Account Type [?] Account holder [?] Industry

Oct, 2010

Aug, 2006

Dec, 2004

$929

Open Account

Individual

Factoring Companies

Descriptions [?]

• Consumer disputes this account information
• Collection account

No contact information provided by Equifax

Balance [?] Current Status [?] Past Due Amount [?]

$1,650	120+ days past due	$1,650

Seven year payment history [?] 30 days late 60 days late 90+ days late

0 times

0 times

1 time(Dec 2008)

Recent payment history [?] 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 2008 2009 2010

Legend:	Currently paid as agreed
	120 days late

[pkenn]

basically they are reporting 120 days late in the "accounts" section.

[llecs]

I don't think it's illegal. I have yet to see any law that prohibits them from reporting this way.

On a FICO scoring standpoint, it is automatically scored as a collection due to how they code it (they are a CA after all). FICO looks at the worst delinquency and how recent that first delinquency was. In this case, the worst delinquency is the collection itself. Even if they moved it to the collections section, your score wouldn't improve.

I know they are a pain to deal with (I had them too). Send a DV if you haven't done so and if they verify, send a PFD.

[RobertEG]

That listing of payment history did not come from debt collector reporting,  Debt collectors dont even have payment history codes to report to under their collection "account" with the CRA.

It came from the OC portion of your credit file.  You dont have an account with a debt collector.  CAs are between the debt collector and the CRA, and are separately stored in a different segment of your credit report.

What you have is a consumer credit report that is mixing information from different segments of your credit file, and making it appear that the account history was reported by the debt collector.

[RammaCredit]

Call get their fax number and send a VOD by fax...it actually works. Then at the same time dispute the account on your report as no knowledge of account. Arrow usually cannot backup the VOD so it will probably be deleted.

....not guessing, telling you from experience.

[MarineVietVet]

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@RammaCredit wrote:

Call get their fax number and send a VOD by fax...it actually works. Then at the same time dispute the account on your report as no knowledge of account. Arrow usually cannot backup the VOD so it will probably be deleted.

....not guessing, telling you from experience.

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What if the OP actually does have knowledge of the account? Are you suggesting they dispute accurate information?

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[RobertEG]

I am equally confused about suggested options.

You cant make a debt validation (DV) request to the OC.  You can only DV a debt collector.  If you DV the debt collector, they are not required to provide documentation of OC account information.  When they get collection referral from an OC, they know the name of the OC and the amount of the debt referred to them for collection.  That is all that they are required to validate under FDCPA 809(b) if you DV them. The many so-called "full media verification" DV letters floating around on the net, that require the debt collector to provide extensive OC account information, are a fantasy.

If you choose to dispute any prior reporting done by the OC (as opposed to DV'ing the debt collector), you have the burden to show how their reporting was inaccurate.  If their reporting was accurate, then your dispute letter will be dismissed by them as lacking supporting documentation of how their reporting was, in fact, inaccurate.  They are not then required to investigate the substance of your dispute

You dont dispute accuracy of credit reporting without evidence of innacuracy.

The payment history profile presented by OP clearly shows prior payments on the OC account, as its payment history progressed.  So how could it be argued that there is no knowledge of the account?

[pkenn]

i think the OC was cortrust or first premier. i have never DV'd them but i have disputed through the CRA.  i dont want to reset the SOL, it turns out it expires in this month i think (DOFD 12/04) (ma sol 6 YEARS)