Collections acounts showing as accounts with balances

[Anonymous]

Hello,

On my Equifax report I have 4 collection accounts that are showing as accounts with balances, and not as collections. There also showing as 120+ late, they are medical collections that a CA is reporting. They are from all the same CA, two are going to drop off by 12/11, and the other two will be droping off by 04/14.  They are being reported as Factoring Company Accounts, I'm wondering if thats why there showing the way they are.

My question is, is this hurting or helping my fico score as oppsoed if they were being reported as collection accounts? My fico is 635 (9-23-11).

Thanks

[Booner72]

Hi Mark-MM.

A couple thoughts.  One a collection can NEVER help a score.

two:  It seems that the info from your credit report is being jumbled by how MyFico is reporting your info - I had the same thing, a collection was showing in my accounts section with a flag.  I was told by the forum folks here that it is just how it is being shown to me on this report - in the wrong spot.

Hope this info helps.  Have you done what you can to get rid of this? Since they are medical, you can PFD which is quick and dirty, or you can google "Why Chat HIPAA" process and get the removed that way.  Both ways require payment.

Good Luck!!

[LIGHTNIN]

Placement of the collection on a CR doesnt matter, because a collection is going to hurt as a collection.

If you are going to do the HIPAA process, the OC would have to be paid. Paying the CA will not work,with the HIPAA process.

[Anonymous]

Thanks for the replies guys.

I know collections hurt your fico score, but I wasn’t sure if how it was showing on my report had more of an impact on lowering my score.

I’m thinking I might do the PFD route on these collections.

Thanks