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Collection or Late


ba0501
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I have a collection from AFNI on my EQ report. Instead of listing it as a collection account, it is listed as an open account that is 120 days late. Question is, which way hurts worse, showing as a collection account or late? How do CAs get away with listing an account as open and 120 days late? It's a collection account.

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I don't know which "hurts" worse and frankly, I think spending any time concerned about how many points you might loose because of one Vs the other is a waste of time. The much more significant probme is that the entry is wrong.

Anything reported to a credit bureau must be accurate. An "open account" isn't a "collection account" and I would dispute and either get it corrected or removed.

Now, the CA may be listing it this way on purpose (and I'd look out for intentional re-aging) or out of stupidity or the bureaus may have simply been stupid; any ot the foregoing are possible). If they keep reporting it wrong then I'd go after them for violations.

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Thanks Robert, you're right, I have wasted alot of time worrying about my scores. I've really come to realize that it's not the score that's so important, but what's on your credit file that really matters. They go hand-in-hand. You can really only have a shot at an exceptional score w/no baddies. Ever time I've been turned down for credit, it's wasn't because of my score, but because of a collection, charge-off, or late. It really all boils down to exhibiting responsible credit behavior over time.

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