Paid CA reporting 120+ late

[mikie209]

Is a paid CA account on my report allowed to report a $0 balance and stating 120+ days late? Also it is still reporting as an open account with a $0 balance.

[Shogun]

Nope, especially the open part.  

[mikie209]

This is what is showing on my report

Account name: Midland Funding

Account #: xxxxxx

Account type: OPEN ACCOUNT

Balance: $0

Date opened: 9/1/2011

Account Status; CLOSED

Past Due: $0

Payment Status: At least 120 days or more than four paayments past due

High Balance: $321

Comments: Collection Account

So the account type says open and the account status says closed? What can I do here?

[Shogun]

Confusing but accurate.

They can post that status as 120 days late if that is the status they received from the OC.  They just can't mark in in the monthly derogs.

The account status is marked correctly as closed, it's they type of account that's wrong and confusing.

Start with a simple GW and go from there.

[mikie209]

Experian deleted them off my report but equifax and transunion updated to that. Midland doesnt like GW letters. I have already send them about 5.

[fixmycred14]

PRA is doing the same to me. As of, November they reported my paid TL as 90+late. It is clearly marked in the monthly column. Do I file another complaint with the CFPB? Yesterday, they added dispute comments and now they are actively reporting lates. I already have an ongoing complaint with them. This is retaliation.

Does anyone have the citations for these violations?

[RobertEG]

The devil is in the details of what reporting  the referenced 20-late is based upon, and thus what code it is stored under in the consumer's file.

Commercial credit reports are often confusing as to the source of information.

If the highest level of delinqueuncy on the OC account was 120 late, and the debt collector is reporting that prior level of delinquency, it is accurate.

Howver, a consumer has no account with a debt collector upon which they send billing statements, and a 120 late must have a set billing due date upon which to base any level of delinquency on that billing due date, so one does not have monthly latess with a debt collector.

If they have reported late on the collection itself, that is clearly improper.  They dont have codes to report lates on their collection, so chances are expremely high that the 120 late is recorded as the highest level of delinquency on the OC account.

As for open status, when any debt has been satisfied, any authority to continue collection is automatically terminated.  The debt collector is required to update their collection to $0 under collection, and close the collection.

One can dispute their failure to have updated their reporting, and under FCRA 623(a)(2), they are required to provide prompt update.

In resolution of any dispute, the furnisher can always update so as to overcome any inaccuracy, so deletion would not be required unless they state that they cannot verify the accuracy as currently reported, or update so as to overcome any inaccuracy.

[guiness56]

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@mikie209 wrote:

This is what is showing on my report

Account name: Midland Funding

Account #: xxxxxx

Account type: OPEN ACCOUNT  All CA accounts report as an open account.  This is account type and not the status of the account.

Balance: $0

Date opened: 9/1/2011

Account Status; CLOSED  If the account is paid, this is reporting correctly.

Past Due: $0

Payment Status: At least 120 days or more than four paayments past due.  This is the highest delinquency of the purchased account.

High Balance: $321

Comments: Collection Account

So the account type says open and the account status says closed? What can I do here?

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