Collection accounts reporting as open accounts?

Anonymous · ‎05-16-2007

Is it normal for a collection account to be reporting as an open account? Three collection accounts are reported as delinquent open accounts on my equifax report but are listed under collections on by the other cras. I'm sorry about asking son many questions but this is the first time I have checked my credit report in several years and I just don't think this is right. Help?

Anonymous · ‎05-16-2007

Not sure if there really is a "normal." How the status reports is at the discretion of the respective creditor and they all behave differently. Time is definitely a factor. If enough time elapses and collection/contact attempts have proven fruitless they may conclude you've skipped town and will close the account as a chargeoff. That's been my experience at least. As to why it doesn't show as a collection on all 3 bureaus yet, I'd look at the details of the account, lates reported, etc. I have accounts like that, but only because of disputes. For instance, I've gotten statuses changed and lates removed from one or two bureaus for a particular account, but one remains stubborn. Subsequently it will show as a satisfactory account on one bureau and a derog on another. Does yours show as a derog on all 3? If not, maybe you can be proactive and move on it. Maybe you can save it from hitting the other 2 bureaus as a derog.

Message Edited by devhip on 05-16-2007 10:49 PM

Tuscani · ‎05-17-2007

devhip wrote:
Not sure if there really is a "normal." How the status reports is at the discretion of the respective creditor and they all behave differently. Time is definitely a factor. If enough time elapses and collection/contact attempts have proven fruitless they may conclude you've skipped town and will close the account as a chargeoff. That's been my experience at least. As to why it doesn't show as a collection on all 3 bureaus yet, I'd look at the details of the account, lates reported, etc. I have accounts like that, but only because of disputes. For instance, I've gotten statuses changed and lates removed from one or two bureaus for a particular account, but one remains stubborn. Subsequently it will show as a satisfactory account on one bureau and a derog on another. Does yours show as a derog on all 3? If not, maybe you can be proactive and move on it. Maybe you can save it from hitting the other 2 bureaus as a derog.

Message Edited by devhip on 05-16-2007 10:49 PM

There is no "normal". A collection can be either open or closed.

Anonymous · ‎05-17-2007

These are medical collections. I have several but only nco is reporting as open accounts.

Tuscani · ‎05-17-2007

You need to research HIPPA and the stipulations it has on credit reporting.