120 late status

[Anonymous]

I have several collection accounts that show as 120 days late. I am assuming this is having a major impact on my reports. Does anyone know if a CA can in fact report something as 120 days late? It would seem to me to be an attempt to put the most pressure on me to pay.

Any feedback?

Thanks!

[AndySoCal]

Technically all non paid collection accounts are 120 days or more late.  My previous statement is true when you consider from the time the account went delinquent until now.  Yes they can report that way. Take care of each collection account  by knowing who owns the debt, if the OC owns the debt work the OC if yhave the $$ to pay the debt.

[RobertEG]

Debt collectors do not, and in fact cannot, report monthly delinquencies.  There are no reporting codes under a collection account that permit this.

Consumers dont have an "account" with a debt collector.  Collections are "accounts" only between the CRA and the debt collector for the reporting of collection activities.

When a credit report displays the reporting of any OC account lates under a section identified as a collection, that is simply a (misleading) formatting issue.  The delinquencies are actually taken from the OC account portion of the consumer's credit file. This leads to the perception that the debt collector has reported the delinquencies, but that is simply a matter of the credit report mixing information taken from various portions of a consumer's credit file.

OC account delinquencies are scored separate from, and in addition to, the reporting of a collection.  They have their own distinct credit report exclusion dates under FCRA 605(a)(4), which is 7 years after their individual dates of delinquency,  The collection account itself has a separate CR deletion date of 7 years plus 180-days from the DOFD on the OC account.