topic Re: Paid collections account still reporting 120 days late in Rebuilding Your Credit

Paid collections account still reporting 120 days late

creditisbetter2 — Thu, 13 Aug 2009 00:56:59 GMT

I couldn't find an answer to my question in the form so forgive me if this is a repeat question. I had an old collections account and I paid it off in 2007. I pulled my report two weeks ago and again today and on that account it has two late payments in 2009. This account is paid off and I don't understand how it can be reporting as late. I've sent letters to the credit bureaus to remove it but what if they choose not to, what recourse do I have? This is having a negative effect on my credit even though it's paid off.

Re: Paid collections account still reporting 120 days late

deputybigz — Thu, 13 Aug 2009 11:36:43 GMT

Hi there if you paid the collection it will still report for 7 years unless you asked for pfd in that case you may be be able get it removed otherwise i would suggest you write a gw letter and see if it works. many people make the mistake of believing that when they pay off a debt it will no longer show on their credit but that is not the case. best of luck with this matter.

Message Edited by deputybigz on 08-13-2009 04:36 AM

Re: Paid collections account still reporting 120 days late

Anonymous — Thu, 13 Aug 2009 11:37:40 GMT

If this was paid in full in 2007, there should be no lates in 2009. Does it show it is paid off?

Re: Paid collections account still reporting 120 days late

BungalowMo — Thu, 13 Aug 2009 12:09:40 GMT

@creditisbetter2 wrote:
I couldn't find an answer to my question in the form so forgive me if this is a repeat question. I had an old collections account and I paid it off in 2007. I pulled my report two weeks ago and again today and on that account it has two late payments in 2009. This account is paid off and I don't understand how it can be reporting as late. I've sent letters to the credit bureaus to remove it but what if they choose not to, what recourse do I have? This is having a negative effect on my credit even though it's paid off.

Do you have documents stating the payoff & when it was made?? Mail a dispute with copies of those documents included.

As far as the 120 late goes...CA's cannot report payments as late. OC's can.

Message Edited by BungalowMo on 08-13-2009 08:09 AM

Re: Paid collections account still reporting 120 days late

cjdavis618 — Thu, 13 Aug 2009 15:22:32 GMT

If a CA can't report late payments, can they mark as a CO on random months?

Re: Paid collections account still reporting 120 days late

creditisbetter2 — Sun, 16 Aug 2009 10:34:38 GMT

Sorry guys I didn't get the new replies for this. @Bungalow, I did have a copy of the canceled check, bank statement, and previous letter I sent with the original check and I mailed that copy to Equifax. I made a mistake and mailed my Experian a day earlier without all of this information, I just attached a document that showed the different credit reports posting different information and I receive a copy of my report in the mail today from experian stating that it's posted correctly and it's showing a zero balance. That wasn't the concern I was having so I am not sure if they didn't undersand my problem, didn't care that the problem was never addressed, or flat out refused to remove.

I am still waiting on my response from Equifax and hopefully they will resolve the problem on their end. I don't understand how after you pay something off two years earlier they can apply a late on my report.

Re: Paid collections account still reporting 120 days late

lovelykj — Mon, 17 Aug 2009 14:23:04 GMT

I have the same problem, if something is paid in feb 2006, how can the status be 120 days late,or any lates in months that follow, what do you do?

Re: Paid collections account still reporting 120 days late

creditisbetter2 — Fri, 02 Oct 2009 04:16:21 GMT

I am happy to report that I checked my credit this evening and that problematic creditor is gone off my report. I am doing jumping jacks in my living room. My score jumped almost 40 points in a matter of two weeks I believe. I called two weeks ago to have them investigate it once again and this time I said that I was disputing the late reporting. I am not sure if that's the call that did the trick or if it was just time for that collection to fall off. Either way I never received the generic email stating my dispute was resolved so I checked my credit and it was gone. What a miracle. I guess what I can suggest is constantly contacting the bureaus as well as the original creditor with certified letters of course. Maybe one day they'll just get tired of you sending the letters and rectify the situation.

Re: Paid collections account still reporting 120 days late

RobertEG — Fri, 02 Oct 2009 05:03:03 GMT

60/90/120+ lates are ONLY in regard to lates on an OC account. You do not have an "account" with a CA. CA "accounts" are between the CA and the CRA for purposes of reporting the collection. You cannot have increasing monthly delinquencies on a CA account. In fact, the reporting codes availavble to CAs only allows them to provide monthly updates to the CRA as to the current account status as open (unpaid), paid in full, paid for less than the full amount, paying under terms. or deleted.

Make sure you know what "account" the 120-day late is reported under.... the OC account with you, or the CA account with the CRA.

Re: Paid collections account still reporting 120 days late

LIGHTNIN — Fri, 02 Oct 2009 06:34:14 GMT

RobertEG; Can you help me with these questions, also thought it maybe helpful with this thread,.......... because i forgot how this works.LOL

I will save this info...so i will not ask again.sorry its late.....no its230am early.Thank you..

How can you correct this, CA reporting 120dates late, under account section on your CR's?

Also the pro's and con's of CA reporting this under the account sec on your CR's?

Re: Paid collections account still reporting 120 days late

mocha76 — Fri, 02 Oct 2009 17:15:09 GMT

bump

I would like to know the answer to this as well. I have two CA listed under accounts. One is paid and the other is not. Both has a status of 120+ days late.