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Original Creditor reported wrong amount to collection agency

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Anonymous
Not applicable

Original Creditor reported wrong amount to collection agency

So I have been working on fixing my credit. I have been settling old debts and disputing any false information. 

 

I stayed in an apartment complex sent out 60 days notice a little later than I was supposed to. The management accepted the notice and adjusted the move-out date to May 28. The lease ended 5/7. There was some stuff we left behind. So I was denying we owed a balance or prorated rent amount. We go on with life and never receive any of the moveout costs. The account gets sent to collections which at the time we disregarded as it had no impact on us. 

 

We finally see the amount and it egregiously wrong. We dispute it with CRA's they verify as valid (no surprise). So we decide to file a complaint through the BBB against the original creditor. The Original Creditor revises the balances with the CA. 

 

However, the CA updated the credit report with the new balance as a paid-off amount. 

 

Original Balance: $2220

Update Balance: $1056

Paid off: 48%

 

I haven't paid off anything the balance was merely corrected which means it shouldn't be reflecting as if the $2220 is the correct amount.

 

I am confused about this and I haven't been able to find here or any google search about something like this.

 

Message 1 of 4
3 REPLIES 3
KLEXH25
Valued Contributor

Re: Original Creditor reported wrong amount to collection agency

Perhaps @RobertEG would have some insight?



Message 2 of 4
RobertEG
Legendary Contributor

Re: Original Creditor reported wrong amount to collection agency

The posted scenario provides a mix of both recognized reporting codes and of items that are not actual Metro 2 data elements that are actually reported by the creditor or debt collector to the CRAs,

 

For example, currrent balance is a specific and recognized Metro 2 item of information that is reported to a CRA by either a creditor or debt collector, and is thus disputable.

However, something called a Paid Off % is not a Metro 2 reporting item of information, and is likely stated and derived separately by either a furnisher or the vendor who created your credit report.  Additionally, where is it showing prior yet updated balances?  Current balance, when reported, overwrites the prior current balance.

 

Before advising on action to address inaccuracies in either, it is first necessary to determine whether it is actual, reported Metro 2 credit file information, or whether it results from some other source.

 

Can you provide a copy of the relevant portions of your credit report that show the contested items so that it can be determined whether it is reported or derived information?

Preferably, a screen shot of relevant portions of your report obtained via annualcreditreport.com

Message 3 of 4
Anonymous
Not applicable

Re: Original Creditor reported wrong amount to collection agency

I'll try to see if I can access it. I have been having trouble with  annualcreditreport.com due to incorrect verification information. The report I have got this from is experian.

Message 4 of 4
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