Valued Member
Posts: 26
Registered: ‎01-08-2013
Re: Does FICO factor "Current Status" on closed accounts?

AndySoCal wrote:

I presume the account is currently reporting a zero balance. Is the date reported the same date as the 120 late date.  IE the account was reported in 4/2012 with a zero balance and the 120 late is 4/2012. If so either talk to the lender to correct it or dispute it. You cannnot owe zero and be 120 days late at the same is not possible.

Correct, the account is reporting a $0 balance ever since it was transferred in 2011. I've disputed this with Equifax twice thus far (they claim that they "verified" with the data furnisher that the reporting is correct), and I am now on my 2nd dispute with the lender (they claim they have not done any further reporting since 2011). I am about ready to hang myself at the end of the proverbial rope. I'm no lawyer, but I'm sure this has to be in violation of the FCRA somehow.