Collection account shows Closed on Privacy Guard

[dfwgal]

Hi,

I am looking at my PG credit reports and was wondering if someone can help me understand the collection account.

The account shows a balance but under the account status is says closed. This is only on EX and of TU and EQ it is open. What does closed mean for a collection account? Is that the same as Paid Collection or what?

Thanks!!!

[wolfpup]

i have the exact same problem! EX and TU list the collection accounts as closed, while EQ is listing it as open. and my EQ score is about 40 points lower than the others.

i'd like to know the answer to this as well!

[jq26]

I don't have the exact answer, but I can tell you I have a similar situation. I had an old car loan which closed in 2002 paid in full. While EQ and TU have it closed, balance $0, EX still has it open and balance of $14,000. Surprisingly, my experian score is 10 points higher than the other two.

I think the lender just never reported it as closed to them in my case. Maybe the CA never updated your file? That is strange- CLOSED but with a balance.

[c m chase]

Collections are SUPPOSED to be listed as closed. Most of the time, they aren't. Why do they list it open? Because that screws your credit up even more in hopes that you'll want to pay it.

It's a violation.

[dfwgal]

So if it is reported as open, we should dispute it with the CRA or the CA?

If the collection is paid it would say PAID COLLECTIONS, right?

Thanks

[dfwgal]

bump