Please check the pic for any reporting errors...

[HigherFico]

Please check for any reporting errors...

Here is how Value City is reporting:

Status as of	Aug, 2013
Date opened [?]	Jul, 2007
Date of last activity [?]	Jan, 2012
Largest past balance [?]	$1,200
Account Type [?]	Revolving
Account holder [?]	Individual
Scheduled Payment Amount [?]	$69
Industry	Complete Dept. Stores

Descriptions [?]

• Account transferred or sold
• Charge

No contact information provided by Equifax

Balance [?]	Current Status [?]
$0	Pays account as agreed

Seven year payment history [?]

30 days late	7 times (Oct 2011)
60 days late	7 times (Nov 2011)
90+ days late	8 times (Apr 2012, Mar 2012, Feb 2012, Jan 2012, Dec 2011)

Here is how the the charged off acct is now reporting with Portfolio Recovery.

Status as of	Dec, 2013
Date opened [?]	Aug, 2013
Date of last activity [?]	Oct, 2011
Largest past balance [?]	$1,956
Account Type [?]	Open Account
Account holder [?]	Individual
Industry	Factoring Companies

Descriptions [?]

• Collection account

No contact information provided by Equifax

Balance [?]	Current Status [?]	Past Due Amount [?]
$1,956	120+ days past due	$1,956

Seven year payment history [?]

30 days late	0 times
60 days late	0 times
90+ days late	0 times

Does anyone see anything wrong with the reporting?  Also when value city fall off? Thanks a bunch.

[Anonymous]

I don't see any errors on either one.

Can't really say when the DoFD is.  Not enough information.  But it looks to be sometime in 2011.

I don't see anything wrong with the collections account other than a past due balance which a CA cannot have.

[NWintellectual]

For one, there is no DOFD (Date of First Delinquency) listed anywhere, so the following is a bit of speculation. But based on the payment history (lates) it looks like the account went delinquent 30 days in Oct 2011 and never returned to positive status. That would make Sep/Oct 2011 the DOFD. This means that  the item can stay on your report until Mar/Apr 2019, also called the CRTP (Credit Reporting Time Period). CRTP = DOFD + (7 years + 180 days).

With regard to the collection, it is my understanding that collection agencies are not allowed to report late payments. Have they been reporting this information on a regular basis (e.g. monthly)? If so, that might be grounds for a dispute. I believe that they are allowed to report the same status as the OC with regard to degree of lateness (e.g. 30-60-90-120 days, etc) but cannot report monthly payment history. You may need to get an official CR direct from each of the CRAs to find this info out.

But don't quote me as truth on Portfolio's shenanigans, there are members here much more senior than I, who can weigh in with their sage-like advice (seek out RobertEG and Guiness on these matters). I hope that at least I have given you a possible vector for attack.

Just tread carefully on this one because this item is still within the SOL of most, if not all, states. This means that even if you succeed in getting Portfolio or Value City to remove, unless you pay or settle the item, the next letter or communications you may receive from them could be a court summons. With that in mind, I would suggest to send a PFD request over to Portfolio offering a settlement before trying to get deletions with reporting issues. (You can always dispute the inaccurate info after you settle.)

[NWintellectual]

Guiness, thanks for weighing in here. What law/regulation/rule states that CA accounts cannot report past due balances (I already knew this to be true), and can you provide a link. This will prove to be very valuable with about three of my CA baddies.

Thanks in advance

[Anonymous]

CAs by definition, you cannot be late with.  They are due all at once on one date. 

As far as the regulation, there really isn't one, it is in the credit reporting resource guide as to how they can report and what they can report.  It is online.

[HigherFico]

In the boxes it says late 0 times for 30, 60, and 90 days lates. So I thought that that was the part that HAD to say zero ( I am referring to Portfolio) As lonmg as they do not report monthly lates...Am i wrong? .

I live in Maryland so I believe the SOL is 3 years. I am trying to figure out what to do with this acct.  I do not want the acct to update since the SOL is coming up possible this year????

What shoud I do because I know they are not going to do a PFD. Also, I received notification last month from Equifax that this has been removed from my report. I did not try anything with transunion but i know that this is still on Equifax.

What should I do?

Also if I make payments or settle the account, will it update and reflect as a new debt and lower my score???

[HigherFico]

So can they report 120+ past due as the current status?

[Anonymous]

A CA can report the account status from the OC when they acquired the debt.  If it was 120 days late, then yes.  But, they cannot report monthly lates.

Once paid the 120 day late would become the worst delinquency and not current delinquency, if they report correctly.

[HigherFico]

---

@Anonymous wrote:

A CA can report the account status from the OC when they acquired the debt.  If it was 120 days late, then yes.  But, they cannot report monthly lates.

Once paid the 120 day late would become the worst delinquency and not current delinquency, if they report correctly.

---

So will my score go down if i pake payment on it?

Or will it go down if I settle it?

[Anonymous]

Paid or unpaid, a collection scores the same.  What could happen is if it has not reported in awhile and you pay it, it will appear new and drop your score.