i tagged onto another post, then realized i should just start my own so that i wasnt trying to take over someone elses.
i ran out of time to dispute with midland, and have already paid them 398.00 to update this account as paid in full with a zero balance, and i have both a letter of our agreement and a letter showing the account is satisfied, and they will no longer try to collect on this account. i was told they will update within the 3rd week of the month. i am wondering if they update the dola if that will change my score since the original dola was 1-2006 based on my EQ report from myfico. my EQ report straight from EQ doesnt show a dola, but does show the dofd as 1-2006, which is the same as the dola reported on myfico. so with that said, they are reporting 90+ late everymonth, open account. account was opened 10-2008. i wonder if like others, when they update it, if the dola changes, will i get a score drop? i also disputed these accounts online prior to joining myfico, but there is still a statement that says "comsumer diputes this account" listed on the reports. so maybe that also helps my fico score, i dont know. i am up to a 602, and if i pay down my cc balances to under 9 percent i am looking at a 640-680 score. im curious if im going to take a hit in my score, and how long before it will recover. the 120 dates late tag will still remain until the account falls off in 2013
copy and pasted straight from my EQ report from the EQ site
Account Number: 852847XXXX
Current Status:
Account Owner: Individual Account.
High Credit: $664
Type of Account: Open
Credit Limit: $0 Term Duration:
Terms Frequency:
Date Opened: 08/2008
Balance: $664
Date Reported: 09/2009
Amount Past Due: $664
Date of Last Payment:
Actual Payment Amount: $0
Scheduled Payment Amount: $0
Date of Last Activity: N/A
Date Major Delinquency First Reported: 10/2008
Months Reviewed: 10 Creditor Classification:
Activity Description: N/A
Charge Off Amount: $0
Deferred Payment Start Date:
Balloon Payment Amount: $0
Balloon Payment Date:
Date Closed:
Type of Loan:
Factoring Company Account (debt buyer)
Date of First Delinquency: 01/2006
Comments:
Consumer disputes this account information,
Collection account
and here is how it looks on the myfico site
Status as of Sep, 2009
Date opened Aug, 2008
Date of last activity Jan, 2006
Date closed Not Reported
Account number [?]
Not Reported Loan type [?]
Not Reported Largest past balance [?]
$664 Terms [?]
Not Reported Account Type [?]
Open Account Account holder [?]
Individual Scheduled payment amount [?] $0
Descriptions [?]
- Consumer disputes this account information
- Collection account
No contact information provided by Equifax
Balance [?]
Current Status
9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 2007 2008 2009 Legend: 
Not Open 
Currently paid as agreed 
120 days late Worst Delinquency 
Ok...that was very hard to read & understand. It helps to break it up a bit.
First...Midland cannot report as an OC. They are a collection company. It is possible they are the only one reporting & the OC has dropped off the report.
The DOLA will change. It's hard to say what effect, if any it might have on your score.
Midland may have bought the acct in 10/08, but that has nothing to do with the DOLA or the DOFD.
Your dispute on this acct does not affect your score Whatever this payment does to your score, you will recover from it. The older it gets, the less impact it will have, but once it drops, you'll get another boost.
Is this your only bad acct??
