whats worse having a 120 days late or a collection acct

[RobertEG]

CA reporting is very different from OC reporting.

An OC can report the length of time from DOFD of continued account delinquencies, e.g., 30/60/90/120+, for it is your account with them that is delinquent on the legal terms of the account.

But you have no legal account with a CA.  A CA account is only with the CRA.

A CA account with the CRA is much more limited.  When a CA first reports to a CRA, they provide dates that include the DOFD on the original OC account, and the date the account was assigned to them for collection.

In any subsequent monthly reporting, a CA can on only report current account status. i.e., whether the account remains under collection, has been paid in full, or request its deletion.  They do not and cannot report any monthly 30/60/90/120+ lates.  It is not provided for in the reporting codes.  And they have no access or ability to modify anything reported by the OC.  Seperate accounts within your credit file.

[tasha27]

so if they are reporting as 120 days late how can i fix it.  the account type is also stated as open account but the account description says collection acct.  i posted how the account is reporting on sidewinder's thread "have a question for someone who has collections reporting on EQ"  I am very confused and dont know how to fix this. 

[Anonymous]

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tasha27 wrote:
so if they are reporting as 120 days late how can i fix it.  the account type is also stated as open account but the account description says collection acct.  i posted how the account is reporting on sidewinder's thread "have a question for someone who has collections reporting on EQ"  I am very confused and dont know how to fix this. 

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Having it moved to the collections section would prevent the late payments from being reported.

However, FICO is not reading those lates, FICO is reading "collection".

I would first DV/PFD, etc and if you can't get them to agree to remove, I would then force them to report correctly.

[RobertEG]

The CA account per se is not reporting the 120 day late.  It cant.  That is apparently taken from the OC account data of the longest delinquency that the OC was reporting prior to the CA.

Credit reports provided to consumers are just summaries, in a digested manner, of your credit file.  So you are getting a mix of account reportings that is, admittedly, confusing.

There is simply no way that a CA can report a 120 day delinquency.  It is not a reporting field that is accepted under a CA account. 

[tasha27]

I DV'd them twice and have not received anything back from them but they continue to report every month.

[Anonymous]

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RobertEG wrote:

The CA account per se is not reporting the 120 day late.  It cant.  That is apparently taken from the OC account data of the longest delinquency that the OC was reporting prior to the CA.

Credit reports provided to consumers are just summaries, in a digested manner, of your credit file.  So you are getting a mix of account reportings that is, admittedly, confusing.

There is simply no way that a CA can report a 120 day delinquency.  It is not a reporting field that is accepted under a CA account. 

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From what you are saying, the CRA(EQ in this case) is taking data from the OC's reporting and placing it on the CA's entry?

I don't see that happening.

In this case, I believe the CA  IS reporting the lates, because they are reporting in the accounts section, NOT the collections sections.