Tricky: CA report account as "open" instead of a collection acct

[Anonymous]

Palisades Collections LLC has pulled a tricky **bleep** and I wonder if it is legal.

In California, in case that matters.

Palisades reported to Equifax an account that is a collection account.  However, it was reported as an open account that is over 120 days past due.  Under account status:  "account is open."  The account with the OC is long since closed.  So when they say the account is open, that is debatable.  The original account is not open.  The Palisades account, in their view, I suppose is open.  But can they legally report it that way?

It is not listed under the collections account on the Equifax report.  It is right in there with accounts that are truly open and being paid monthly.   Under descriptions, they wrote "Collection account." 

Is this a dirty trick?  Should I dispute?

[Anonymous]

This is a new trend that I have seen more and more-

[Anonymous]

I have one from Palisades also and it is showing the same thing.  The only thing I can think of is that the account was sold to them, which it was in my case. The OC no longer owns it and shows a zero balance on 2 of the 3 CRs.  Midland Credit Management also shows an open account on one of the CRs.

[ozgirl]

I have the same situation--with Performance Capital Mgmt. What is up with this? Plus, the OC is still listed. Isn't that a duplication? In my case I know Performance Capital purchased the debt.

[Anonymous]

Palisades did the same BS to me. I have already filed suit against them. My next step is to sue EQ because if you look at the account in TC or NC it says the open date was 1/1/70. A little difficult to open an account for me 10 mos before I was born I think. EQ is the only one that allows this and it's time they get taken to task for allowing it. They are next on my "Sue List" as soon as my case with Palisades is settled.

[Anonymous]

Hi,

It is not just EQ it is shown onmy EX report that way

Trying to clean up

[Anonymous]

I have the same problem but with Beacon Financial Group, LLC. I reported them to the IL AG, The Florida AG, The FTC, and about 4 other agencies. Mine is also reporting as an auto loan when it was a personal loan that I defaulted on in 1999 but is reporting default date as 12/2005. It says status open account, date opened 3/1998 and no mention anywhere of the original creditor. IL AG says its seems to be a case of reaging and it is definately not legal.

[Anonymous]

I've got two like this, both on EQ.  One is from Arrow, and one from NCO, both showing Open, 120+ days past due.  The Open Date on the NCO entry is 01/00/0001.  And NCO added it to EQ after I sent them a DV, to which the responded that they can't find my account and asked that I send them verification.

Sigh.

[Anonymous]

I never realized there was a difference , I've had LVNV doing this forever!  Thanks to a credit pull from  a lender I discovered yet another new trick in that they are now reporting me as 90 days late, and they did it in Aug '07 and Jan '08 -  I'm going for EQ first, then LVNV.

Bam70 - I'd love to know how it's going w/Palisades!  I want to hit EQ for a very high $$ for punitive and wish we all would go after them so they'd report accurately!

Message Edited by beach123 on 02-11-2008 05:49 AM

[Anonymous]

I replied to your IM beach.....