Odds of collection appearing on reports during a weekend/holiday

[Anonymous]

I am about to close on a new home early next week and have anxiety over a yet to be reported collection popping up on my three credit reports. My realtor said the odds of activity is very low - that the collection agency celebrates Memorial Day just as all businesses. Can anyone speak from experience - do the collection agencies and the credit bureaus go still over major holidays?

I am so close to the finish line and someone confirming that my realtor's advice is sound would be wonderful.

[blindambition]

Yes, that's correct. It's a federal holiday, which many companies will recognize, including CA and CRA. COVID has also caused delayed reporting for both CA and CRA.
It may not hit until you're mortgage has closed.

[mycreditscoreisfair]

I would guess that any collection agency that was going to report/contact you would have done so when your soft/hard pulls for your mortgage went through. If you made it this far, I would bet you're probably safe.

[House2021]

Is it a small amount? Could you just contact the, and pay it before it reports?

[blindambition]

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@House2021 wrote:

Is it a small amount? Could you just contact the, and pay it before it reports?

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That wouldn't be wise a couple days before finalization, best done after. Being so close, that could potentially invite a hornets nest. Only if LO requested that.@House2021 wrote:

Is it a small amount? Could you just contact the, and pay it before it reports?

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[Anonymous]

Ah no, this is no small collection. It is a significant collection and I will most attempt to arrange a pay for delete after we close. Thanks eveyone for all the helpful advice and insights!

[gdale6]

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@Anonymous wrote:

I am about to close on a new home early next week and have anxiety over a yet to be reported collection popping up on my three credit reports. My realtor said the odds of activity is very low - that the collection agency celebrates Memorial Day just as all businesses. Can anyone speak from experience - do the collection agencies and the credit bureaus go still over major holidays?

I am so close to the finish line and someone confirming that my realtor's advice is sound would be wonderful.

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If they use automated reporting then they are live 24/7/365, if they are smaller outfit using manual then there is no reporting if they are closed.