beware of collection accounts reporting as a Open TYPE Tradeline

[Anonymous]

Asset Acceptance is not the first or last Debt Collector to do this, but they will be my last. In trying to understand why my report says that I have a current collection account, I ordered all credit reports and did some digging.

Because debt collectors do not extend credit, I tried to understand why they are listed in the other accounts sections of my report, with a status of collection.

Everyone should understand that the way data is stored in the cra's database, having a tradeline that is a collection is impactful, but even more damaging if they actually say it an "open non revolving' retail account, with a status of collection account.

These accounts don't show up in the collections section of your credit report, but will display as a negative account.

I am in the process of re disputing all of the cra's...because it's both illegal and against all governing rules for AA and the CRA's to do this.

Anyone else ever resolve this issue? Account is from 09, but still shows up as an active unpaid collection.

[Shann0n_marie]

I believe I have the same issue and was thinking it was reporting incorrectly because it reports to my revolving tradeline area instead of in collections -- I've actually PAID it off and am waiting for them to update it to PAID because they update the account monthly as past due and it's killing my score.

Here is a pic of how my Verizon collection reports.   I'm interested in the outcome of your dispute... I wonder if I can get the reporting fixed... or better yet deleted for inaccurate reporting because Verizon would not do a PFD and from what I've read, I'm not going to have any luck with GW request either.

[kittywitty]

portfolio recovery does this shady reporting. very long thread on here about them and what to do about it. very sneaky they report as open acct in collections instead of a collection acct. the law says at no time does a collection agency become a lender so this type of reporting is not legal.

[nate79416]

what if its unpaid?

[Anonymous]

Yup. Got PR to remove my HSBC collection this week. With the recent 85 million jury award against them, I believe they might be looking very carefully at how they've been doing business. I believe it helped me.

[kittywitty]

doesn't matter if it is paid or not. at no time does a collection agency become a lender period. OC needs to report zero balance when they sell it and the collection agency needs to report in the collection agency dept not as an open tradeline that is in collection.

[nate79416]

Did you file BBB, or who?

[nate79416]

wow and I also have old medical bills reporting that way

[Anonymous]

Nate, not sure your question was directed at me, but I did not file any complaints with BBB or anyone else. I simply emailed PR 3 times over 5 days and requested deletion as I don't believe the HSBC account belonged to me. I never received a single reply, but today I received alerts stating this account has been removed from my CR's. This was due to be removed within 12 month's anyway and was beyond SOL, but it sure was a nice surprise.

[kittywitty]

i totally flipped out on upper level mgmt at PRC was an old man kinda sounded like their attorney. i went through several people to get to that man and i really let him have it and they removed the acct completely. then the orginal creditor ge capital/toysrus changed from paid charged off  to debt skip. i did a digital application for the card and they had a spot for me to inital agreeing to such illegal collection activity but that doesn't make it legal either. so basically OC is just as quility as PRC but they want to claim we sold the account we didn't do anything illegal bla bla bla