Hey all, going through my CR's to clean up my reports. Down to 4 derogs and trying to handle them. I am confused however as far as what I am reading on the account report. It has a date opened and a date reported. Is the date opened the date of first default or the date the account was first opened in good standing? I am sure it has to be the former because I have a medical on there that was opened in 2008 and reported in 2013. I am going to try to DV this since it is so old. Just want to make sure I understand the difference between opened and reported so I can choose the right strategy for each account.
@MrCrabs wrote:Hey all, going through my CR's to clean up my reports. Down to 4 derogs and trying to handle them. I am confused however as far as what I am reading on the account report. It has a date opened and a date reported. Is the date opened the date of first default or the date the account was first opened in good standing? I am sure it has to be the former because I have a medical on there that was opened in 2008 and reported in 2013. I am going to try to DV this since it is so old. Just want to make sure I understand the difference between opened and reported so I can choose the right strategy for each account.
If you are looking at an OC TL then is date they opened the account, if looking at a CA TL its the date they received it for collection.
Okay these are all CA's now. Do you know why there is such a large discrepancy between date opened and date reported? i.e. the one med collection has a 4 year gap between opened and reported!
@MrCrabs wrote:Okay these are all CA's now. Do you know why there is such a large discrepancy between date opened and date reported? i.e. the one med collection has a 4 year gap between opened and reported!
Not really but I would say it has to do with your collection score, the higher your Fico goes the more apt you are to pay what you owe or they tend to report and stop you from obtaining any more credit.
@gdale6 wrote:Not really but I would say it has to do with your collection score, the higher your Fico goes the more apt you are to pay what you owe or they tend to report and stop you from obtaining any more credit.
Interesting, There's gotta be some kind of consumer protection violation there I'd imagine. Opening a new negative account from an old debt to purposely block someone from getting a car, home, credit card, etc.
The date reported is the most recent date that any information was updated on the account. For credit cards, they usually report once a month, at least, and the date reported would change to show this. For a collection, the CA can continue reporting for as long as they own the account.... and some do continue reporting until there is no longer a balance owed.
EX:694 TU:744 EQ:777