What should I do about an error on CR

[frio]

I just noticed that on my EQ they have an item in collections from 09/2005 that was legally paid for for less then full balance.  On my EX it is showing up correct but on my EQ it is showing still owing money and under the CA.  Should I file a dispute with EQ and get it correct and perhaps taken off my CR ???

Any info would be great ....im on a mission !!!

[frio]

anyone ????

[LS2982]

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@frio wrote:

I just noticed that on my EQ they have an item in collections from 09/2005 that was legally paid for for less then full balance.  On my EX it is showing up correct but on my EQ it is showing still owing money and under the CA.  Should I file a dispute with EQ and get it correct and perhaps taken off my CR ???

Any info would be great ....im on a mission !!!

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I would dispute it. You actually have a good chance of them removing it due to mis-information.

[AndySoCal]

I would try to GW  letter for this and not dispute it since it is paid.  I have seen several instances when old derogatory infomation re-reports it hurts the score. I am of the opinon the account re-reports the date reported goes from 2005 to 2011 and that is what will cause the score to go down. Some here will disagree. What ever you dsicde to do be very careful with this account.

[RobertEG]

+1

I, too, would not recommend starting with a dispute, although you may have to resort to one.

Once a debt is paid, assuming it satisfies the debt, both the OC and debt collector must update their reporting to show a $0 balance owed.

In the case of a debt collector, this closes their collection account.

It may have just been an innocent reporting error or omission on the part of the debt collector in reporting the update to all three CRAs,

Give them a call, and a reasonable period to update their reporting.  This would not be a good-will letter, since correction is not a matter of discretion on their part, it is a requirement.

If, after a reasonable period, they dont update, then you can file a direct dispute with them for inaccurate reporting, which will require their correction of the balance.

The outcome of any such dispute wont require them to delete the collection.  It would only require them to update the reporting to make it accurate.

Try to do that informally.

[frio]

the collections account last deliquincy is in 2005...I would love to see it removed early.  I will give them a call and see if they can update the information

[RobertEG]

CR deletion will not be based on your last date of delinquency, it will be based on the date of first delinquency in the most recent chain of OC account delinquencies that preceded their assignment for collection.

So the DOFD will probably precede your date of last delinquency, if the last delinquency was only a 30-day late.

Do you know the DOFD on the OC account?  If so, simply add 7 years plus 180-days to that date, and that is your required CR exclusion date.

[frio]

That was my mistake 9/2005 is the DOFD

[AndySoCal]

Send them a good will letter asking them to delete the reporting since it is paid. You DO NOT want them to change the reporting so that it will continue to report.