I have an account that was settled in full with two payments, one 12/07 and one 1/08. I got the letter stating the account was satisfied and closed before the end of January. Here is what they report for experian on freecreditreport.com (it's not under experian on myfico, but IS under equifax, more on that later...):
EXPERIAN Account Name: ARROW FINANCIAL SERVIC Account Number: XXXXXXXXX Acct Type: Collection Department / Agency / Attorney Acct Status: Closed Monthly Payment: Date Open: 8/1/2005 Balance: Terms: 1 Month High Balance: Limit: Past Due: Payment Status: Paid, was a collection account, insurance claim or government claim or was terminated for default Date: Sep Oct Nov Dec Jan Feb Experian: 07 07 07 07 08 08 KD
(for the sake of keeping it lined up, I only included the last 6 months reporting, but 2/08 is the only one with data.)
Is this a FCRA violation for them to report a derog after the account was paid in full? Can someone put a negative comment on your credit report a month after the account has been settled and closed?
Now on Equifax, my score just went up 7 points and according to ScoreWatch, it was due to the same account. Here is how that looks:
Previously reportedNewly reported
Balance: $0 $0
Past due: $0Not Reported
Status: At least 120 days or more than At least 120 days or more than
four payments past due four payments past due
Last activity: 1/1/20051/1/2005
Description: Consumer disputes this Consumer disputes this account information account information
Settlement accepted on this account Collection account Paid collection
Now how can that status be correct? How can it be 120 days past due AND be paid? Why is it under experian on freecreditreport and not myfico but both for equifax? This account doesn't show on Transunion at all.
I appreciate any feedback anyone is able to give! Thanks!!!