beware of collection accounts reporting as a Open TYPE Tradeline

[Rebuilding69]

Yeah it came from CreditCheckTotal.

I'll have to do that later or tomorrow, have to get to workie now

[Anonymous]

did you guys see this thread? thought many of you would find this interesting

http://ficoforums.myfico.com/t5/Credit-in-the-News/Debt-buyers-fined-for-using-misleading-practices-...

[Anonymous]

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@Anonymous wrote:

did you guys see this thread? thought many of you would find this interesting

http://ficoforums.myfico.com/t5/Credit-in-the-News/Debt-buyers-fined-for-using-misleading-practices-to-collect/td-p/4225020

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Thanks for posting!! I wonder if I can go ahead and file a motion to vacate? I have a judgement from 2012 from PRA.

[Anonymous]

if you find out let me know, please!

[RESSECUP]

So if what they are doing is wrong, why are they still doing it as i have 3 showing on my credit report like this.  Midland and Portfolio recovery, and has anyone had any luck getting these easlity removed?

[Anonymous]

I sumbmitted a complaint to CFPB on 8/31/15. I'm suppose to hear something back in 15 days. So we shall see

[Anonymous]

Humble opinion, no one has told them to stop.

It takes a village, and they know it...one lawsuit, is not stopping their chuck wagon, and they will keep it up, until they are run out of business.

Consider 400k in revenue for collections, and maybe a fine in 3 years....they will have made a billion.

[Anonymous]

So --- EQ had denied any responsible part of the whole BOA issue with the account - and for the 6th time, and about  a week and a half ago. I honestly read the response, and got busy with life - and responding to their response through the CFBP. 

I normally pull my credit report daily from them -- because I always track the data changes they make. I missed one day - the 17th ---- now that I have time, today  I looked through all of the accounts --- and noticed, there is NO BOA account --- POOOOOOOFFFF. Its gone.....

Actually kinda funny because now, I am gonna file a complaint for this as well - as there is no traceability of where it went and why --- seems as though they didnt want to admit it??

[Anonymous]

Sorry if I am beating a dead horse, but if you could look at the link here and tell me if this is the type of activity your referring to about CA that report as open lines? I have 7 of these on my CRs

(Mod Cut-All personal info must be redacted including account numbers and address identifiers)

[Anonymous]

Yes -- They are a debt collector. 

According to the STANDARD credit reporting file format -- Debt Collectors CANNOT send in Payment history, there is no space they are are allowed to use on the file. 

Additionally- the Status codes can only be as follows:

The following status codes are supported by xxxxxxx in Agency/Third Party Collections mode.

93 - Seriously past due/assigned to collections
62 - Paid in full collection account or claim

They use a "Collection Account" with a past due value --- and cannot. This is what the Orginal Credit Grantor ONLY can report. 

They CANNOT senf in TERMS of payment, they store monthly.

Ad  debt Collector - and from the METRO2 File (please google this so it can show you what a DEBT COLLECTOR) can send. 

. 14. The following fields are not applicable and may be blank- or zero-filled:  
 
·    Credit Limit  
·    Terms Frequency  
·    Scheduled Monthly Payment Amount  
·    Payment Rating  
·    Original Charge-off Amount