Collection showing as Open Account???

[MLMMBC]

I was looking at the FiCO Stimulator and credit reports.  It shows LVN Funding as an open account which reflects in my balance.  My total balances (revolving) are just over 2,000 and LVN is 1200.00 of it.  My question is can a collection company be considered an open account with a 120 past due?  It says account opened in 2008 as if they opened my account and if they are my creditor...  

I have tried disputing over a year now with no compliance from this.  Tonight I just reported them to BBB for not responding to 4 letters I requested for validation.  CRA's are of no help.  All they tell me is "they have validated" and thats where their job stops.

SIDE NOTE: I have 2 1st Premiere Cards reporting too.  I tried disputing but they are requiring me to sign an affidavit in order to dispute it.  I am weary of that.  Should I?  They also just reported a payment on one of the accounts in March for 25.00 that I never made and now it shows lates in January 2011 and March of 2013.  Also shows paid as agreed up until 03/2013 no it is a Charge Off again as of 03/2013 but says date of last activity 01/2008. (IF THAT MAKE SENSE).  Does that affect me?  Should I push this?  Is it affecting my score?  Adivce PLEASE PLEASE PLEASE!

Thanks a million!

[RobertEG]

All collections are Open type until their collection is closed, either by termination of their collection authority or satisfaction of the debt under collection.

The status of a collection as Open is not to be confused with the status of the OC account.

The Open date of a collection can be reported as of the date they received their collection authority.

As for not responding to requests for debt vvalidation, a debt collector is not required to respond within any specific period.

They can choose not to validate, and if the DV request was timely, their "penalty" is that they must cease active collection on the debt until such time as they have provided the requested validation.  Issues of debt validation are debt collection practices issues under the FDCPA, and the CRAs are not party to any issues related to lack of validation.

As for the creditor request for an affidavit as part of a dispute, I assume the dispute relates to some assertion of account/debt not mine?

If so, the dispute process is not the way to go.  You would file a police report and send it to the CRA, which would result in blocking of the contested reporting from your credit report.  No OC involvement is necessary to obtain that blockage.

[MLMMBC]

Thank you for your help. But just a bit confused; does that mean LVN can just continue to report without proving the debt is mine? Every month they update the debt. Is there any recourse here?

And as far as first premiere... can they report payments I have never made? Doesn't it affect my SOL? OR It guess better question my score. These last three are my most difficult.

[llecs]

LVNV sometimes reports as a collection within your Accounts section of your report with added lates. FICO will still score it as a CA (as do lenders). I firmly believe that it is the CRA (namely and usually EQ) that reports it that way vs. the CA. 

LVNV doesn't have to prove the debt in order to report. They just have to certify to the CRA that the debt is legit (per the FCRA).

The updating does hurt.

For LVNV, start from scratch. I'd send (or resend) a DV. If they verify and you agree, then send a PFD. If you disagree with the debt but you know it is yours, then certainly reconcile that (whatever that may be). If you know it isn't yours then dispute with a police report for ID theft. 

SOL is the time frame a creditor has to sue and varies by state from 3-15 years depending on the debt. Did you mean the 7-7.5 year CRTP? If the latter, then know that nothing can restart that clock, not even a CR update or a payment. Once you hit the 7-7.5 yrs from DOFD then it has to go away. Are they reporting a balance?

On the payment of $25, I'd be leary. The $25 can impact SOL in some states, but they would have to prove in court when they go to sue you that you actually made a $25 payment.

For the CC, you can offer a PFD and see if you can get them to go away that way.

[RobertEG]

+1

Neither the DV process under the FDCPA nor the dspute processes under the FCRA require documentation or proof in order to verify.

They require a reasonable investigation, and response with their accurate determination supportd by that investigation.

Neither process has admininstrative judges to consider and rule on proofs.

If they either fail to conduct a reasoable investigation, or verify nothstanding the fact that ther investigation does not support their finiding, they do so at their future peril.

If the issue ever gets before a court, they will be compelled to provide discovery of their facts, and if it is clear that they dont support their prior verification, they can be found lialbe for intentional violation of the FDCPA or FCRA investigation and verification processes.

[AndySoCal]

If the Open is being reported as an account type  this correct. Collection accounts are a different tpe of an account than a credit credit card or an auto loan.  Those the terms are so much a month unti lhe debt is paid off. The open account type means balance in full is due. you see the same account type ofr a charge card like with some  AMEX.  The open account type does not refer to the account being open or closed.

[MLMMBC]

Okay, so I guess my only recourse is to get  police report to get these removed (1st Premiere).  Prior to that I am just going to file a complaint as far as LVN to BBB and FTC and Attorney General because the lack of response it unacceptable.  Every month the balance goes up and I have no clue to why it is and I am suppose to accept that.  Not cool because if I called and said I would pay a debt I have no clue of, they would surely accept my letters and calls.

I am just frustrated.  As this is hurting me and I know they don't care but I care as it is affecting me trying to purchase a house.

I do appreciate all the help that you all have provided.  Thanks again!