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Closed Verizon Wireless

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Closed Verizon Wireless

I have a closed Verizon Wireless account that closed and was sent to collections. Verizon sent my file to Jefferson collections. Both Verizon and Jefferson Collections was repotting on my account. I recently settled with Jefferson Collections and that account was removed. Verizon still reports on my account as a revolving account saying I owe them $1,110 every month. Currently it is reported that my utilization for this phone company is 100%. I never had a credit line with this company only cellphones. Are they able to legally report this on my credit?
Starting Score: 456
Current Score: 675
Goal Score: 705

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35 Inq
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Student Loans-$5,000 interest (deferred)


Re: Closed Verizon Wireless

If you settled this with their collector (Jefferson) then they must either remove the TL or update it to 0 balance, they are required by law to report accurate information. 

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Re: Closed Verizon Wireless

If your payment to the debt collector clearly satisfied the full delinquency, the debt collector is required to update their collection to show closed, $0 balance, or they can optionally choose to delete their entire collection, but are advised by the CRAs not to delete based on payment of the debt.


The debt collector is required to notify the creditor that they have received satisfaction of the debt, and the creditor is then required to promptly update their account to show a current balance of $0.

The creditor is not required to delete their account of any prior derogs, and is advised by the CRA credit reporting manual not to delete.


You thus have a situation of the creditor apparently having two reporting inaccuracies.

First, they are continuing to report a debt balance after you have satisfied the debt, and second, they are inaccurately reporting the type of account as revolving as opposed to Open-type credit.


I would first file a dispute with the CRA contesting the accuracy of each of those items of information.

A consumer has no right to directly file a civil action related to the accuracy of credit reporting until they have first filed a dispute and received and unfavorable verification of accuracy from the CRA.  See FCRA 623(c).

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