Paid Charg-off v Paid Collection and related ?'s

[screwtape]

Is there much of a score difference between paid charge-off and paid collection?

Also, I have a "paid collection" but the OC cofirmed to me that this never went to third-party collections. Are they legally required to change this, or do "internal collections" count?

also, even though the accout is paid with 0 balance, they are report "current status" as 120 days past due. The OC claims that this is represents the maximum delinquency that they are reporting?

is that right???

[luckyduck]

A charge off is not as bad as a collection, but both are negs and you need to work to remove them.

The OC should be reporting it as paid charge off, not paid collection.

Current status is paid charge off, not 120 days past due.

They can report, and I've seen it on DHs report this way. Current status, Paid: Was past due 30 days one time. The current status has to reflect the current status, not the most delinquent status that has ever existed on the account. That is inaccurate information

[screwtape]

It doesn't appear uner the collections section, they just have it designated as "paid collection"

If it never went to an outside agency, can they legally do that?

also, they never chagred off any amount. nada, zero.

[luckyduck]

Okay, this doesn't make sense. All of this is one account right.

You went past due 120 days, and paid it before the 180 day charge off mark?

If it was never charged off, it never became a "collection" account. Only CAs report an account as a collection. OCs report the account as open/revolving/installment, and report the status as current/paid/past due, etc..

It should show "paid/was late 120 days".

There should be no reference to charge off and no reference to collection.

Of course, this is if I am understanding the above information correctly.

[screwtape]

they are not a CA, they are an OC

under "Additional Information" it says "Account closed by consumer;Paid Collection"

Under Current Status it says "Over 120 days Past Due"

Under "charge off $" it says $0

under amount past due it $0

this is on an Equifax report

[workinninetofive]

Are you sure they didn't sell it to a CA.. it looks like they left their mark on your report but sold it off. The CA didn't necessary make it to your report.

[luckyduck]

I think the entire point is that this account was paid off while in past due status but before it was ever charged off, and it was never sent to collections. The OC is reporting the account as a paid collection, even though it was paid before it was even charged off.

Screwtape, am I hitting the nail on the head ??

[screwtape]

When I called them they told me they it never went third party

What's the next step here?

[luckyduck]

If you want it deleted, then dispute with the CRA as "I have never had a collection account with this company." It should be coded as not mine, but you didn't specifically say it isn't yours. See what happens. If it comes back with no modifications or deletion, send a letter to the CO asking for a transaction history. Ask them if this account was ever officially charged off or sent to collections, and if so, on what date did this occur.