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The Old "Open Account" Scam


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I am filing tomorrow againest a CA. On my CR they list account type as Open Account. I have not been able to find the CRAs definition of "Open Account". I know what it is, but want to have the CRAs definition to show the judge what it is just to cover my bases.

Has anyone run accros the CRAs definition?

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Could it be Sherman or another JDB? I have not been able to get that explanation either. An account type as I understand it is either revolving or installment, unless it is a mortgage which has its own type... and that an account status may be open or closed. Only the status may be open or closed, not the type.

Yet I also have two "open accounts" accounts under "type". Perhaps the CRA (in my case Equifax) should be sued as they can't explain this and really there is no such thing. They have also verified this information.

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Obviously this isn't an issue of "open" vs. "closed" regarding the account status itself.

It can't possibly be an open-ended account, since they're not extending you revolving credit terms from month to month.

Likewise, it's really not an installment account, which would be a set amount (interest included) calculated into monthly payments over a pre-determined payoff schedule, yet they often list these as "installment".

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Ok, I am gonna copy what I included in my Federal Motion for Partial Summary Judgment. I am still waiting on a ruling so who knows if it worked... :roll:

2. In defendants’ paragraph #2 they DO NOT deny reporting the account as an “OPEN” account. The Defendants’ do however deny that this is a misrepresentation and a violation of 15 U.S.C. 1692e, 1692e(2)(a), 1692f, 1692e(8), and 1692e(10). An open account "does not mean an amount owed on a single transaction or an account stated. It is a written account concerning a related series of debit and credit entries of reciprocal charges and allowances kept open until it shall suit the convenience of either party to settle and close the account." Southern Union Exploration Co. v. Wynn Exploration Co., 95 N.M. 594, 624 P.2d 536 (Ct. App. 1981). “Plaintiff misrepresented the character of the account by claiming it was OPEN”. Martinez v. Albuquerque Collection Services, Inc., 867 F.Supp. 1495 (D.N.M. 1994).
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