I'm down to my last 2 open baddies. I have one vacate left to be ruled on and filed and it will drop off (not included in those 2).
One is from Asset Acceptance. I inquired about a PFD back in April and never heard back from them, however, they flagged it on my CR as a dispute.
I'd still like to do a PFD, but I'm not confident they'll do anything so I'm figuring just pay it and a paid collection has to look better than an open collection.
My question is what are the ramifications of it reporting as a factoring account?
From my MPM 3-in-1, here's how it looks on TU and EX (listed as a collection):
| ASSET ACCEPT |
 | TransUnion | Experian | Equifax |
| Original Creditor: | 01 CREDIT ONE BANK NA | CREDIT ONE BANK NA | |
| Account #: | 11258**** | 11258**** | |
| High Balance: | 584 | 584 | |
| Date Opened: | 06/10/2011 | 06/01/2011 | |
| Date Reported: | 08/07/2013 | 08/07/2013 | |
| Balance: | 632 | 632 | |
| Condition: | 08/07/2013 | 09/01/2011 | |
| Responsibility: | Individual | Individual | |
| Remarks: | |||
| |
Here's how it looks on EQ:
| AAC | |||
| TransUnion | Experian | Equifax |
 | |||
| Account #: | CREDIT ON-11258**** | ||
| Condition: | Derogatory | ||
| Balance: | $632 | ||
| Type: | Collection | ||
| Pay Status: | Late 120 Days | ||
| Past Due: | $632 | ||
| High balance: | $584 | ||
| Terms: | Provided | ||
| Limit: | $0 | ||
| Payment: | $0 | ||
| Opened: | 06/01/2011 | ||
| Reported: | 08/01/2013 | ||
| Responsibility: | Individual | ||
I want to get it paid, however, I DON'T want their updating of EQ to fill in all the blanks with Late 120's all the way back to the beginning of time.
Does anyone have any experience if they update to paid if it will backfill the payment history. I'm not sure how you can have late 120's with a collection agency.
I'm relatively new to this but I'm guessing reporting Late 120's for several years would crater my score.
Thanks for any insight
Starting Score: 640 TU / 593 EQ / 596 EX (3/1/13)
The fact they they report themselves as a "factoring company" isn't an issue. However if they are reporting lates, then this is a violation. They can list the status of the acount, say 120 days late, however they are not allowed to do monthly derogs.
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
June 2017 update: All scores over 820, just pure gardening now.
@fixingitohio wrote:I'm down to my last 2 open baddies. I have one vacate left to be ruled on and filed and it will drop off (not included in those 2).
One is from Asset Acceptance. I inquired about a PFD back in April and never heard back from them, however, they flagged it on my CR as a dispute.
I'd still like to do a PFD, but I'm not confident they'll do anything so I'm figuring just pay it and a paid collection has to look better than an open collection.
My question is what are the ramifications of it reporting as a factoring account?
From my MPM 3-in-1, here's how it looks on TU and EX (listed as a collection):
ASSET ACCEPT
TransUnion Experian Equifax Original Creditor: 01 CREDIT ONE BANK NA CREDIT ONE BANK NA Account #: 11258**** 11258**** High Balance: 584 584 Date Opened: 06/10/2011 06/01/2011 Date Reported: 08/07/2013 08/07/2013 Balance: 632 632 Condition: 08/07/2013 09/01/2011 Responsibility: Individual Individual Remarks:
Here's how it looks on EQ:
AAC TransUnion Experian Equifax Account #: CREDIT ON-11258**** Condition: Derogatory Balance: $632 Type: Collection Pay Status: Late 120 Days Past Due: $632 High balance: $584 Terms: Provided Limit: $0 Payment: $0 Opened: 06/01/2011 Reported: 08/01/2013 Responsibility: Individual
I want to get it paid, however, I DON'T want their updating of EQ to fill in all the blanks with Late 120's all the way back to the beginning of time.
Does anyone have any experience if they update to paid if it will backfill the payment history. I'm not sure how you can have late 120's with a collection agency.
I'm relatively new to this but I'm guessing reporting Late 120's for several years would crater my score.
Thanks for any insight
+1 to shogun..
Also, when you sent the PFD, did you use one of those canned letters floating on the internet? It is possible you disputed it without realizing you did. Some of the templates are really bad, they say stuff like 'This account is in dispute" or "I am disuting the validity of this account" at the begining and then going on with the PFD request
I am not sure if this is your situation, but it happens ALL.THE.TIME with some of the bad internet templates
-scott
Yeah that was in it.
Do you remove the dispute by calling the CRA directly?
Also, they're not reporting lates monthly in the payment history right now. I just don't want them to start.