Reporting open and current OK's on old closed accounts on Equifax?

[Anonymous]

So, after taking a long hard look at an Equifax report,  this doesn't seem right.

I have an old closed mortgage, that is reporting OK OK OK every month in the past few years, all the way through March 2016,  on Equifax.  Account status OPEN, balance zero.     The house was sold in 2010.

Also on Equifax, I have old student loans, that are reporting as "Open", balance zero, with OK's through 2014.    These were paid off in early 2006!    

Any thoughts on these?   I'm not one to dispute positive information, but this is NOT making sense!

[Revelate]

Take the money and run yo!

It's happened before to folks, it'll happen again... out of curiosity who were the loan servicers?

[Anonymous]

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@Revelate wrote:

Take the money and run yo!

It's happened before to folks, it'll happen again... out of curiosity who were the loan servicers?

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Of course Equi is the one I've been fighting to remove a satisfied/vacated judgement and they won't budge!  So this makes up for that I guess!  

The mortgage:  Chase, formerly WAMU

The student loans:  Nelnet

So you have heard of this before?      Interesting!  It just proves they are slightly incompetent   Oh and I really need to pull my MF mortgage scores now!

[K-in-Boston]

My apologies for digging up an old thread, but I had the same question and found this thread so thought it was better to reply than start a new one.  As I was just sorting out my accounts and looking to see what would happen with AAoA on different CBs 10 years on if I began closing a lot of accounts, I too noticed that I had 7 installment accounts on EQ only that report as open but are paid with a 0 balance:

Auto Loan, HSBC, open 04/2003, last updated 08/2009 (paid/closed 05/2009 TU, never reported to EX)

Mortgage, PHH, open 02/2011, last updated 03/2012 (paid/closed 03/2012 EX, 02/2012 TU)

Mortgage, PHH, open 02/2012, last updated 08/2016 (paid/closed 09/2016 EX, 08/2016 TU)

Student Loan, ACS, open 02/2009, last updated 05/2016 (paid/closed 05/2016 on EX and TU)

Student Loan, Navient, open 03/2006, last updated 08/2015 (paid/closed 07/2015 on EX and TU)

Student Loan, Navient, open 03/2006, last updated 08/2015 (paid/closed 07/2015 on EX and TU), 2nd loan opened the same day

Student Loan, Navient, open 02/2008, last updated 06/2016 (paid/closed 05/2016 on EX and TU)

So, questions...

I know that having these on my EQ is helping my AAoA the same as they are on other CBs.  If I leave these as-is, when the 10-year mark hits on other CBs what is the likelihood that these would stay on my EQ even if they were last updated 10+ years ago?

Is having an additional 7 "open" trade lines with 0% debt-to-loan ratio actually helping in any way?  My 3 FICO 08 scores are generally within 3-10 points of each other, and even those differences I can usually pinpoint to a lower balance not being reported to card A or 2 more HPs on CB B.  I have a fairly thick file (50+ total accounts on each CB).

Is having an additional 7 "open" trade lines with 0% debt-to-loan ratio hurting in any way?  I do have 1 closed student, 2 open student, 2 open auto, 3 open installment, and 1 open mortgage also showing on EQ (other than 1 more closed auto loan that never reported to EQ, this is complete).  Just wondering if maybe just having all of those open installment lines are offsetting the benefits of the 0% ratios?

Any arguments to be made for disputing the open/closed status with EQ on these?  Any reason not to?  Should I just ignore them since on the surface they seem to have effect on my score?

[Anonymous]

I started a thread on this very subject about a month ago.  I have several accounts on my credit report that have been closed for years that still report every month, "OK" - No one seems to have a reason as to why this happens, but I guess in terms of scoring it doesn't really matter either way.

[K-in-Boston]

Do you have a link to that thread? I'd be very interested in reading it.  I tried to search your profile for it, but gave up after a while.  I mean this in the most endearing way (I enjoy reading your posts), but you are quite active on this forum and there is a lot to sift through.

[Anonymous]

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@K-in-Boston wrote:

Do you have a link to that thread? I'd be very interested in reading it.  I tried to search your profile for it, but gave up after a while.  I mean this in the most endearing way (I enjoy reading your posts), but you are quite active on this forum and there is a lot to sift through.

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Sure thing.  Here you go:

http://ficoforums.myfico.com/t5/General-Credit-Topics/Why-do-some-closed-accounts-continue-reporting...

[K-in-Boston]

Thanks! So the two threads have something slightly different. Your accounts are showing closed but still reporting OK every month. LolaCat and I have installment accounts that are paid and show closed on EX and TU, but report as still open with $0 balance on EQ.

[Anonymous]

Yeah, definite difference there.  I could see an open account continue to be reported.  I mean, that happens with revolvers all the time with no usage... you know, an account with a zero balance that's open but someone SDs the card for a decade but it still reports $0 every month.  With a closed account however, I don't understand the purpose of continued reporting.