Is this Collection Agency breaking any FDCPA or FCRA laws????

[corkyduckfan]

I have 2 charge-offs that I paid off in 08' that were purchased by the Junk Debt Buyer Arrow Financial Services.  I just found out something that I have been overlooking since I paid both of these off in 08'.  I keep all my reports from all 3 credit bureaus in my accordian file.  I was just going over my credit report with a fine tooth comb and noticed that since I paid these scumbags in FULL, they have all the while been reporting that it is an OPEN account and was paid in settlement which is a complete lie.  I paid in full and it is not OPEN.  Is Arrow Financial breaking any laws by misreporting?  I thought I read that they are suppose to report accurately by law.  This has been negatively impacting my report unnecessarily for some time now.  Any help on this would be greatly appreciated.  This credit game can be universally frustrating.

[Anonymous]

Open, closed, paid in full or settled this will hurt your score, somewhat lesser as time goes by, until it is removed.

But, yes, they should be reporting it as paid in full.  And the open comment really is not impacting your score.