Creditor stopped reporting?

[Anonymous]

I have a delinquent account on my report that I want to verify the balance on. It is a charge off on a loan. It shows that the creditor stopped reporting back in January of 2016. Is it normal for them to stop reporting completely?

[RobertEG]

By "stopping reporting," do you mean they stopped making monthly updated reporting, or do you mean that they deleted their account?

[Anonymous]

They stopped doing monthly reporting but change the balance due every 8 or 9 months or so which makes no sense to me. Can they do this?

[RobertEG]

When a creditor lends you money, they are entitled to collect interest on your use of their money.

Becoming delinquent on a debt does not usually terminate continued interest on the debt.

The terms of continued accrual will be set forth in your initial loan agreement contract.

What are the terms of that contract?

FCRA 623(a)(2) requires that a furnisher who has reported information to a CRA must "promptly" update that reporting as necessary to maintain its current accuracy.  Waiting eight to nine months to update the balance is probably stretching any reasonable interpretation of prompt, but is no a huge deal.  It you wish to compel more frequent updates, you can always file a dispute documenting that you now owe more, and getting it corrected.