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Frequent Contributor
Posts: 252
Registered: ‎06-27-2007
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Dumb Question but...

someone please define a Derog account for me please. Is this the same as an account in collections?
 
Im confused!
 
Thanks
TS
 
 
As of 3/17/08 - TU 619 / EQ 666 / Ex 624
As of 4/17/08 -TU 621 / EQ 671 / Ex 626
As of 6/07/08 - TU 627/ EQ 688 / EQ 644
Moderator Emeritus
Posts: 16,382
Registered: ‎03-12-2007
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Re: Dumb Question but...



theshadow12345 wrote:
someone please define a Derog account for me please. Is this the same as an account in collections?
 
Im confused!
 
Thanks
TS
 
 


A derogatory account is simply any tradeline or account reporting negative or adverse info.  Some examples are, collections, charge-offs, unpaid child support, judgments, wage garnishments, even accounts that are 120 days late (default time) and so on.
Senior Contributor
Posts: 4,635
Registered: ‎03-11-2007
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Re: Dumb Question but...

On TU and EX reports, they break things down into clear categories. Adverse Accounts (derogs) and Good Accounts. Even a single 30 day late is a derog, albeit far less of a derog than a collection or chargeoff.

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