Confused - RealTime Resolutions

[Anonymous]

I had a foreclosure 3 years ago and the deficiency balance 20k was bought by a CA - Realtime Resolutions. The forclosure doesnt even show on my credit at all...it only shows up as mortgage of 20k so every month it reports as a120/180 day late notice. This is reporting wrong correct? The company has offered a settlement of 3k but they will not PFD, at least right now they won't. All of my efforts towards rebuilding my credit is washed away it seems every month because of this continuous 120 late pay everyb single month.

[Anonymous]

If i could settle a 20k debt for 3k id do that in a heartbeat unless its past SOL. it looks to be reporting correctly. i dont think they'll charge off that account.

[Anonymous]

Whether they charge it off or not doesn't matter.  The fact that they sold the debt to a CA automatically makes them stop reporting monthly lates. 

They no longer own the debt and cannot report on something they don't have.

[Anonymous]

Its the CA reporting it late every month. 180 days each month. Its pretty much killing any effort to build my credit.

[Shogun]

CAs are expressly forbidden to post monthly payment history.  Where are you getting your report from?

[Anonymous]

Here on myfico, on transunion, experian, CK, I get them several places.

[Shogun]

Is it reporting monthly lates?  Or does it have it as the status?

[Anonymous]

It shows it as an open Mortgage account being 120 days delinquent every month for the past 3 years. The account lists the monthly status payment history...Ok, 30, 60, 90...its says 120 for every month, 180 on experian. Not listed on TU.

Status Date	Dec, 2013	-	Oct, 2013
Condition	Open	-	Open
Last Activity	May, 2011	-	Not Available
Balance	$25,060	-	$25,060
Status	120+ days past due

[Shogun]

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@Anonymous wrote:

It shows it as an open Mortgage account being 120 days delinquent every month for the past 3 years. The account lists the monthly status payment history...Ok, 30, 60, 90...its says 120 for every month, 180 on experian. Not listed on TU.

Status Date	Dec, 2013	-	Oct, 2013
Condition	Open	-	Open
Last Activity	May, 2011	-	Not Available
Balance	$25,060	-	$25,060
Status	120+ days past due

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That part is OK, they are allowed to post the last status as reported by the OC.  However, CAs are not allowed to post monthly updates.  30,60, 90 etc.  This is expressively forbidden.  If they are reporting as they should be, as a CA, then they would not even have the ability to report as such as this not an available option.

I don't see any monthly postings above, so I can't say whether or not they are reporting those.  I was wondering if they were a CA, so I did some research on them and came up with this on their website.

Real Time Resolutions, Inc. is engaged in the collection of debts. This communication is an attempt to collect a debt and any information obtained will be used for that purpose. However, if you are currently in bankrupcty or have received a discharge in bankruptcy, this letter is not an attempt to collect a debt from you personally to the extent it is included in your bankruptcy or has been discharged, but is provided for informational purposes only.

And this:

Real Time Resolutions, Inc. is considered a debt collector.
This is an attempt to collect a debt and any information will be used for that purpose.
Please see the Legal Notice below for more important information
concerning your rights under applicable federal and state law.

So they are indeed a CA.

[Anonymous]

They are reporting as a mortgage company because on the CRs it has the charts of the monthly payments status with the red dots, green dots, etc. (On myfico for example). They are reporting under the mortgage company section, not the collection agency section.