Jefferson Capital Reporting 120 days late but paid.. REMOVED!!!

[mazbo1]

All, 

So I had Jefferson Capital Reporting 120 days late on my credit report but I paid it back in 2009. Well doing some researching on MyFico I saw that a lot of people filed a complaint with the BBB.  So I went on the site and did that... Two days later I got the Response listed Below... THEY ARE REMOVING IT!!! This forum is chaning my life! 

Better Business Bureau

                                We acknowledge receipt of your correspondence sent on behalf of (me) concerning the trade information reflected on his credit bureau report.

                                The above-referenced account was settled in full in June 2009 and has been accurately reported to the bureaus as settled/paid for less than full balance.  It is not our policy to delete the trade lines of settled-in-full accounts.  However, to resolve my dispute and as a courtesy, we have notified the bureaus to delete our trade line from his credit file.

                                Thank you for the opportunity to respond.

                                Sincerely,

                                Sharon Sauer

                                Consumer Relations Staff

                                On behalf of Jefferson Capital Systems, LLC, A Debt Collector

                                Phone: (320) 229-8604

700 Club here I come! 

[Jaxavier]

Congrats on the deletion, however it's no courtesy. They're doing it to cover their own behinds. If its reporting as 120 days late all this time they're clearly not reporting accurately in accordance with the FCRA, and its easier to make you happy than to poet tidally deal with a lawsuit and complaints filed to AG's and the FTC.

[mazbo1]

Thats what I figured... Its easier for them to just delete instead of getting another bad BBB mark against them. 

[RobertEG]

The devil is in the details of how the delinquency was continuing to be reported, not the fact of its reporting

While an account is delinquent, its current level of deliquency is its current status.

When the debt on the account is paid, the current status then becomes pays as agreed if still open, or paid if closed.

However, the prior delinquency status is still retained in the credit file and reportable as having occured.

When payment changes the current status, the prior delinquency status is moved to the Payment Rating code, and of course all deliquencies are retained under the Payment History Profile.

They could have simply updated the current status to paid, and retained the reporting of the late.

You were fortunate that they chose to delete.  However, they did not state that they were deleting only the reporting of the deliquency, but rather they are deleting the entire trade line, so the deletion also causes loss of the age of the account in AAoA scoring.

They just decided to rid themselves of all future disputes on a closed account. 

[Shogun]

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@RobertEG wrote:

The devil is in the details of how the delinquency was continuing to be reported, not the fact of its reporting

While an account is delinquent, its current level of deliquency is its current status.

When the debt on the account is paid, the current status then becomes pays as agreed if still open, or paid if closed.

However, the prior delinquency status is still retained in the credit file and reportable as having occured.

When payment changes the current status, the prior delinquency status is moved to the Payment Rating code, and of course all deliquencies are retained under the Payment History Profile.

They could have simply updated the current status to paid, and retained the reporting of the late.

You were fortunate that they chose to delete.  However, they did not state that they were deleting only the reporting of the deliquency, but rather they are deleting the entire trade line, so the deletion also causes loss of the age of the account in AAoA scoring.

They just decided to rid themselves of all future disputes on a closed account. 

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Jefferson Capital is a CA so the AAoA would not be included.  The deletion of this from the CRAs is the best possible outcome.  Congrats!