help me understand if midland is reporting incorrectly?

[savagetyler]

I have been lurking the forum for sometime and have improved from 546 fake CA to 601fake CA so thank you for that.

The question I have is a collection from midland funding. It's on an old capital one I stopped paying on in Aug of 2009.

here is how capital one is on my credit report:

Capital one shows closed as of October 2102

date of first 30 day late and no payments after that August 2009

This is how midland is showing

Date opened: 08/2013

Reported since: 09/2013

Type: debt buyer

terms: 1 month 

Status: collection account past due $XXXX

status details: scheduled  to stay on record until April 2016

Does this fall under correct reporting?

would love to get this removed or PFD but read they are hard to deal with.

[Anonymous]

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@savagetyler wrote:

I have been lurking the forum for sometime and have improved from 546 fake CA to 601fake CA so thank you for that.

The question I have is a collection from midland funding. It's on an old capital one I stopped paying on in Aug of 2009.

here is how capital one is on my credit report:

Capital one shows closed as of October 2102

date of first 30 day late and no payments after that August 2009

This is how midland is showing

Date opened: 08/2013 This is the date Midland took collection of the account from the OC or other debt collector

Reported since: 09/2013 This is the date that Midland first reports to the CRA that you owe the debt

Type: debt buyer

terms: 1 month 

Status: collection account past due $XXXX

status details: scheduled  to stay on record until April 2016 Date tradeline is due to be removed from the report

Does this fall under correct reporting?

would love to get this removed or PFD but read they are hard to deal with.

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The original debt owed to the original creditor is what you are worried about, the date of first delinquency. The credit agencies will report this tradeline for 7.5 years from the date of first delinquency, no matter who has bought it, or who is trying to collect it. What you have to look at is a full credit report, which will list the estimated time for it to be removed from your report. So an August 2009 DOFD would be estimated to come off in 2016 as listed

[savagetyler]

Thank you for the info. I now understand. Anyone with midland contacts for PFD?