CO reporting question

[mebell]

So the last 2 baddies on all my reports is 2 COs. Both have been PIF to CA, which they removed. The COs are with BOA and HSBC. BOA is reporting a $0 balance and HSBC is reporting "Not Reported" for the balance. Why exactly do you think they would report it this way? Could that be worse then having $0 as reported, which would be the correct reporting?

[gdale6]

---

@mebell wrote:

So the last 2 baddies on all my reports is 2 COs. Both have been PIF to CA, which they removed. The COs are with BOA and HSBC. BOA is reporting a $0 balance and HSBC is reporting "Not Reported" for the balance. Why exactly do you think they would report it this way? It is what they chose and it wont affect the way the account is scored by FICO.

Could that be worse then having $0 as reported, which would be the correct reporting? No

---

[RobertEG]

They cannot chose not to update the balance to $0 once paid.  It is a requirement of the FCRA.

Any furnisher is required under FCRA 623(a)(2) to promptly update any prior reporting so as to reflect its current accuracy.

Their could be an impact upon a manual review of your CR, as it would raise potential questions as to the status of the debt.

Reporting $0 enters their own statement into the file that the debt has been satisfied.  Thus, I dont consider it trivial.

I would call and remind them of ther obligation to have promptly updated their reporting.  Most likely simply an oversight.

I would not dispute unless they fail to address informally, and correct in their next reporting cycle.