Collection VERSUS Account

[Anonymous]

Please explained to me the difference between a debt being reported as an collection vs being reported as account.  Does the account have to a closed date reported so that it can moved under COLLECTIONS on my credit report?  Or does it matter (score wise) how a debt is reported??? 

[Anonymous]

CAs can only report under "collections".

OCs report under "accounts".

Yes, it makes a difference to scoring how they are reported.

Accounts in the "collection" section are only scored as collections. The age, util, etc aren't considered. Under the accounts section, these things are considered in scoring.

[Anonymous]

Thanks for your response.....now I am sure you know my next question...lol

How do I correct this?  Meaning if a collection agency showing under accounts?  What are my steps to take?

Note: SideWinder, I have veiwing this board for a long time before I ever considered posting for assistance and I find that you have been a blessing to so many people. Your knowledge and the infromation you have chosen to share are both AMAZINGLY neended.

[Anonymous]

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ReallyTrying09 wrote:

Thanks for your response.....now I am sure you know my next question...lol

How do I correct this?  Meaning if a collection agency showing under accounts?  What are my steps to take?

First, is this account beyond SOL or paid? You don't want to start working on an account that is not beyond SOL, not paid, and you can not PIF.

Note: SideWinder, I have veiwing this board for a long time before I ever considered posting for assistance and I find that you have been a blessing to so many people. Your knowledge and the infromation you have chosen to share are both AMAZINGLY neended.

Thank you and I learned it all right here from others who are much more knowledgeable than I am. Just paying it forward.

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[Anonymous]

Status as of [?] Feb, 2009

 Date opened [?] Jun, 2006

Date of last activity [?] Feb, 2007

Date closed [?] Not Reported

Account number [?] Not Reported

Loan type [?] Not Reported

Largest past balance [?] $1,680

Terms [?] Not Reported

 Account Type [?] Revolving

 Account holder [?] Individual

Scheduled payment amount [?] $0

I am having a hard time with this....I found out this is a credit card that was created from a medical bill that I owed.  I never agreed to having the card but remember the offer being made to me by phone.  I have removed 2 credit agency that were reporting this debt but, Plains Commerce is acting as the OC (not sure what steps to take with them).  Any suggestions??

[Anonymous]

Plains Commerce is an OC. They are the issuer of that "CC" that you were offered.

A friend got the same offer and accepted because it was within SOL and a large balance. She knew she'd be sued, so this was the best option for her.

So, they offered the card, you refused, and now this is on your report? Is it showing late payments, CO, what?

Has the debt this originated from been PIF yet?

If not, I see two routes you could possibly take.

1) Call them up, explain you did not accept this card, never received it in the mail, etc and try to negotiate with them that if they remove this listing and open a new account and put this debt on it, then you will accept it and make the payments as required.

2) Call them up, explain you did not accept this card, never received it, etc and that either they remove it or you will file complaints with your AG and the BBB. In your view, opening an CC account without your prior permission is the same as ID theft.  

Message Edited by sidewinder on 03-08-2009 12:50 PM

[nothingman02]

nothing really...just wanted to thank you guys over here for your replies to my post as I suspect that you are not reading that post anymore. But its solved !

[Anonymous]

Regarding the Plains Commerce issue...I received a response from a DV letter that I sent ro Resurgent Capitol Services basically, saying they having taking the necessary measures so that I will not be contacted anymore.

But at the top of the letter it has this:

Previous Creditor : Plains Commerence Bank

Current Creditor:Ascent Card Services

Does this mean that OC is now Ascent Services because the bought the debit Plains Commerce???

Plains Commerce is reporting me on my credit and I was going to call them today until received this in the mail.

What should I do???

Thanks in advance

[Anonymous]

Ascent Card Services is owned by the same company that Resurgent is owned by based on the information I turned up doing a google search on them.