How accurate should info be on credit reports?

[Anonymous]

Welp... Been reading for years and finally signed up. I am in the process of attempting to purchase a home. I had write off and charge offs the lender wasn't worried about. But now right before close the "collections" pop up and show as opened. So of course I no longer qualify. Here is my question... These 2 collections show as opened with a payment history. The OC closed the accounts 3 years ago. The account starts at June 2018 and shows paid thru Oct. Then 120 late on Nov. Then paid Dec 2018 thru Feb 2019. 120 late March 2019. This don't make any sense to me. Are they allowed to do this? I have my credit reports because I have been disputing all the inaccurate info on my reports (to no avail). They will not delete anything even when I specifically show them exactly what is inaccurate. Always comes back "verified". (This last part I am talking about when I was disputing the write offs and charge offs on my report)

[RobertEG]

Ignoring for a moment the reported payment history profile for prior months, what do you own billing records show to be the actual monthly status?

You can dispute reporting that is shown to be incomplete or inaccurate, and attempt to force the progressive reporting of 30-late to 60-late, etc. with no delays or gaps in reporting, but it has become very common for creditors to delay reporting until the period of delinquency has become major, and to then skip months under payment history by eitther not showing the status, or showing ND.

If you dispute, you are likely to get a thorough and complete reporting of each and every delinquency.

The key and most important issue is that what is reported is not inaccurate.  

If, for example, they report 120-late and you can show that the account was only 60-late, that is a clear inaccuracy that requires correction.

You are not likely to get the payment history profile deleted, as the creditor can always correct without any issue of required deletion.

As for reporting of a collection as Open, that is not a statement that relates to the OC account.

Any collection is Open once reported, and remains Open until the debt collector either no longer has collection authority, or until the debt is paid.  

What is the actual payment history profile that you consider correct?

[Anonymous]

When I typed my question it sounded good in my head. Lol... Ok.

I have a collection account. It is an account the was purchased by a 3rd party collection agency. The original account went delinquent and was closed in 2015. Fast forward to 2018 and the collection agency is reporting it as opened (I understand they can do this. I'm not disputing that) but they show in 2018 I made payments and then was 120 days late. Then in 2019 they did the same thing. Here is why I don't see how legally they can do this. They report good payments and then 120 late. How? For example... Jan= Good, Feb = Good, March = Good then April =120 late. Huh? If it is 120 days late how is jan, feb and march showing good payments. Also I have never made any payments to the collection agency and have never had contact with them. I didn't even know they were there until I pulled my credit report.

[Anonymous]

@Anonymous wrote:
When I typed my question it sounded good in my head. Lol... Ok.

I have a collection account. It is an account the was purchased by a 3rd party collection agency. The original account went delinquent and was closed in 2015. Fast forward to 2018 and the collection agency is reporting it as opened (I understand they can do this. I'm not disputing that) but they show in 2018 I made payments and then was 120 days late. Then in 2019 they did the same thing. Here is why I don't see how legally they can do this. They report good payments and then 120 late. How? For example... Jan= Good, Feb = Good, March = Good then April =120 late. Huh? If it is 120 days late how is jan, feb and march showing good payments. Also I have never made any payments to the collection agency and have never had contact with them. I didn't even know they were there until I pulled my credit report.

I’d be very careful contacting that 3rd party collector, sounds like they are re-aging the account and that is illegal unless you speak to them and verify the account. Check your statute of limitations for your state on the run-out period of collecting on the account. In my state it was 7 years and I avoided all contact with the shady 3 party collectors, my stuff dropped off in 2015.

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