Is Experian reporting wrong or is someone being sneaky

[Anonymous]

Hi,

I've looked at my experian report and saw that i have two late payments within the last 13 months. i have reviewed the report and the only two possibilities are a collection and a closed auto loan. all other accounts are in ok. here is what is bothering me.

- The auto loan paid and closed with late payment over 4 years ago not falling in the stated 13 month timeframe

- The collection (Pinnacle) was from 4 years ago but is updating every month as unpaid?

1. can the collection be triggering the late payment?

2. Will the auto loan count as 1 of the late payments?

What gives? 

[RobertEG]

If monthly delinquencies, they should be showing under your payment history profile.

[Anonymous]

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@Anonymous wrote:

Hi,

I've looked at my experian report and saw that i have two late payments within the last 13 months. i have reviewed the report and the only two possibilities are a collection and a closed auto loan. all other accounts are in ok. here is what is bothering me.

- The auto loan paid and closed with late payment over 4 years ago not falling in the stated 13 month timeframe

- The collection (Pinnacle) was from 4 years ago but is updating every month as unpaid?

1. can the collection be triggering the late payment?

2. Will the auto loan count as 1 of the late payments?

What gives? 

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Welcome to myfico. If there is a question to the authenticity of the lates, you can dispute them through Experian. This should give you the information you want. Good or bad. Good luck, and again welcome.

[Anonymous]

I tried to send a message but im unsure if it went through

Robert I have 2 questions for you, heres the first:

I included Credit One bank in my bankruptcy and out of 3 CR they are reporting on 2 of them (Transunion & Equifax) that it was a charged off account/ Purchased by another lender; Collateral; sold to sold to another lender and shows $0 balance but on Experian they are reporting as 0 balance included in BK... The account was sold to a collection agency before I filed although they never reported the account of my credit report. I have disputed this with the 2 that are reporting negatively but don’t understand why they would report to 1 as $0 & IIB but the 2 major ones mainly pulled they are leaving it as charged off and refuse to update.. I did send each bureau a written request along with print outs of how they are reporting to 1 and not the other 2 and sent them my schedule that shows Credit One themselves being included in BK and right underneath it the collection agency they sold my account to. I had 1 other account that was reporting that way and they just completely deleted their account I didn’t have to do any fighting with them. What would you suggest I do or is there anything I can do? Thanks for your help with this! This blog site altogether has helped me get on the right track for rebuilding my credit.

[RobertEG]

I presume you are referring to the current status.

Yes, you can argue that they should be consiistent, but their reporting is really not inaccurate

If the creditor did a charge-off and sold the debt prior to its discharge, whether via paymant or BK, the ultimate payment is immaterial to their reporting.

The moment they sold the debt, they were required to report a $0 balance, terminating an further requirment to update based on subsequent status of the debt.

Thus, their final status of being a charge-off when sold, along with update of the debt to $0, would, in my opinion, make their current reporting accurate.

The update of status of the amount under collection as being $0 based on the BK discharge would apply to the owner at that time, i.e., the debt collector.

The OC was not required to update the debt status as being discharged.  Whether that is an inaccuracy in reporting seems to be a bit academic.