How CAs Report

[Anonymous]

Do CAs report delinquencies, 30, 60 90 days late?

[Anonymous]

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@Anonymous wrote:

Do CAs report delinquencies, 30, 60 90 days late?

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No they don't. Or at least they are not supposed to. Late payments are associated only with the OC.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".
 

[rckstrscott]

Portfolio Recovery is showing 120 day late payments under the Installment account section of my Equifax... This is completely incorrect right?

What kind of recourse do I have? How do I get them to report it correctly? That is the only difference between my TU and EQ scores, and as you see, they are like 30 pts different because of it haha

-scott

[LIGHTNIN]

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@rckstrscott wrote:

Portfolio Recovery is showing 120 day late payments under the Installment account section of my Equifax... This is completely incorrect right?

What kind of recourse do I have? How do I get them to report it correctly? That is the only difference between my TU and EQ scores, and as you see, they are like 30 pts different because of it haha

-scott

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Hi Scott,

I believe it doesn't matter where on a CR, Portfolio Recovery is listed because FICO  see it as a Collection.

The 120day late I don't believe it counts on CA's, only on OC.

If you have the funds, I would suggest to do a PFD. Hope this helps.

[RobertEG]

There is no way a debt collector can report, under a collection account, monthly delinquencies.

You dont have an "account" with a debt collector, and they dont send you monthly statements with due dates.  Debt collectors are NEVER creditors, even if they subsequently purchase, and thus own, the debt under collection,  Ergo, no monthly delinquencies with a debt collector,

Collection accounts are solely between the CRA and the debt collector, for reporting of their collection activities,  The reporting codes available to a debt collector do not even include the reporting of monthly delinquencies, since they dont exist.

When the debt collector opens a collection reporting account with a CRA, it is between them.  They report the date the collection was assigned to them, which becomes the "open" status date for the collection reporting.  The 'open" status remains until the collection is closed.

What normally happens to create confusion is that we consumers get crummy commercial credit reports that regularly list OC account delinquencies under the CR heading of the collection account,  Those were not reported by the debt collector, they were reported by the OC.  Your credit file wont show those as having been reported by the debt collector.  Disputes are directed to the accuracy or inaccuracy of credit reporting to a CRA.  They are not responsible for inaccurate formatting of information contained in any CR you might receive.  I would be careful in disputing credit reporting based on the format of your CR.

[rckstrscott]

Good to know!

Although, it is showing in the accounts section of this MyFico report, and my other TrueCredit report. But it doesn't matter right? When I got to the section that says what is impacting my score it says Recent Late Payments. I haven't has a late payment on anything in 3 years.. My TU account doesn't say that but the EQ one does...

i am just a little concerned, since you mentioned 'crummy' commericial reports.. is MyFico vicitim to these sorts of mis-reporting?

-scott

[LIGHTNIN]

Recent Late Payments comment was confusing for me too. I thought it only meant a late payment with an OC.

I found out it  the status date on a CA can also be a recent late payment.

On your myfico CR, where it shows the most recent late payment happened X years X months ago.

See if you can find that same date anywhere else on your CR.  Let us know what you find.