OLD COLLECTIONS REPORTING AS NEW!!! HELP

[Anonymous]

I HAVE BEEN DOING EVERYTHING IT TAKES TO BUILD MY CREDIT,  I HAVE MONITORING SERVICE WITH ALL THE BUREAUS.  I HAVE ONE COLLECTIONS ACCOUNT THAT HAS BEEN ON ALL 3 BUREAUS SINCE AUG OF 2010 FOR 73$ RECENTLY I CALLED THE COLLECTION COMPANY TO NEGOTIATE THE WOMAN WAS EXTREMELY RUDE AND I GOT NO WHERE.   A FEW DAYS LATER I GOT AN ALERT FROM EXPERIAN THAT A NEW COLLECTIONS HAS BEEN ADDED, WHEN I LOGGED IN IT SHOWED THIS SAME COLLECTION THAT HAS REPORTED SINCE 8/2010 AND EXPERIAN SAID DUE TO THE NEW COLLECTIONS MY SCORE HAD DROPPED 74 POINTS.   I IMMEDIATELY CONTACTED EXPERIAN BUT GOT INFORMATION FROM PEOPLE THAT DON'T SEEM TO KNOW ANYTHING ABOUT HOW CREDIT REPORTING WORKS.  THEIR ONLY EXPLANATION WAS THAT THE CREDITOR DID AN UPDATE AND IT TRIGGERED A NEW ALERT.. THAT MAKES NO  SINCE HOW COULD A COLLECTIONS ACCOUNT FOR 73$ THAT'S BEEN ON MY REPORT SINCE 8/2010 WITH THE SAME COMPANY FOR THE SAME AMOUNT DROP MY SCORE 74 POINTS 3 YR LATER!!  I CALLED THE COLLECTION AGENCY AND THEY SAID THEY JUST DID A ROUTINE UPDATE.  ALSO I'LL MENTION THAT THE UPDATE SHOWS ON EQUIFAX AND TRANSUNION AND IT DIDN'T IMPACT THE SCORES AT ALL.   EXPERIAN REPORTED THIS AS A NEW COLLECTION AND DOESN'T SEEM TO KNOW WHAT TO DO TO FIX IT!!!! THIS IS SO FRUSTRATING PLEASE SOMEONE OFFER ME ADVISE OF HOW TO GET THIS FIXED 

[RobertEG]

To get at the root of the problem, there are two issues to be resolved.

Fist is how/what did the debt collector report, and second is how/what did the CRA enter into your file.

If the debt collector reported updated info on the same collection, that is proper.  Upon receipt, the CRA should enter the reporting under that same account.

There should be no "new" collection showing.

However, if the debt collector reported using a new account no/designation, then the CRA would approprately treat it as a new collection.

What are the specfics of the reporting(s)?

[Anonymous]

It's the exact same info. Nothing has changed including the balance.

[Anonymous]

You say it has been reporting since 2010.  Has it been updating each month since then or has it been dormant for awhile.  When was the last time it actually updated?

[Anonymous]

They hadn't reported anything since sep of 2012 then they reported in June. But they did it with the other CRA and again no changes other than Experian

[Anonymous]

I consider my self very credit smart and I've work for one of the largest banks as a licensed banker/loan officer.  But this is just baffling to me its very typical for for collections agency to go several months or yrs without reporting anything to on a collections account that has already been reported to the CRA  some don't report unless the balance changes or important changes to the account.  But in this case nothing has changed and I've always been taught the older a collection account is on the CR  the less impact is has.  Why is experian dropping my credit score by 74 points and alerting me that its new!!?  This seems so unfair and nobody from experian is willing to take ownership they just was to continue to transfer you to another department.   I need answers I truly don't understand this

[Anonymous]

When a collections has not updated in over a year, when it does it uses a current date making it seem new and you are dinged for it.  If it had updated every month since it reported this would not have happened. 

It is one of the bad things that happen and nothing that can be done about it. 

Older collection accounts do fade with time.  But when they don't update every month this can happen.  I agree 100% that it isn't fair nor do I believe it is right.  There should be another way to update without hurting you again for an already reporting account.

[Anonymous]

Thank you for replying to my post. And I don't mean to keep going in circles but again why only Experian the update was Also done on 6/28 for equifax and transunion, but only Experian lowered my score as a "new" collections.

[Anonymous]

I can't answer that.  Maybe they updated regularly on the others and not EX.

[nbowens]

I had the same thing happen to me. My score dropped 25 points. Its a paid collection and when it reported paid but showed as new. I wrote a letter to the corporate office of the collection agency requesting it to be removed and disputed all the credit bureaus to remove it also. I am not sure it will help because it has to be on my credit for 7 years but they sure don't have to report it!!!! If you find a solution I would appreciate it.