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Date of last report - Collection Accounts


snowmountain33
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I have searched but didn't find the question asked.

I have pulled my credit reports and looking at a few older accounts the Date of last reporting is current as of this month.

The collection account is paid/closed as Paid as aggreed or paid colllections showing 0.00 balance as of years ago.

Some of the accounts are 5 years old and still showing they are reporting monthly.

Does this mean the account is still open? What methods can I use to fix this? Cuz i know information stays on your credit report x amount of years from the last reporting date or last action taken.

This will be my first post.

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Welcome aboard...

Does this mean the account is still open? What methods can I use to fix this? Cuz i know information stays on your credit report x amount of years from the last reporting date or last action taken.

No...the accounts are probably closed...and stuff stays on your report for 7-1/2 years from the DOFD (date of first delinquency)...which is reported by the original creditor (OC). CAs can't change that...and, if they do, its a violation of the FDCPA (called re-aging).

And, as for "reporting monthly"...may or not mean its actually happening. This is all done by computer and its possible that no actual report took place.

So...read up on the "1-2 punch"...you might be able to get some of this deleted...

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"...Does this mean the account is still open..."

Zero balance = closed (or as good as closed). It's paid.

"...i know information stays on your credit report x amount of years from the last reporting date or last action taken..."

The FCRA details that derogatory data may appear on your CR for 7 years from the DOFD, not last action or last reported date.

"...Some of the accounts are 5 years old and...are reporting monthly..."

Are all of these accounts derogatory? If you have positive TL's that are old, paid off, and being updated monthly, there is no problem. They would simply be providing history for your overall CR and for any score obtained.

If all of these are derogatory accounts, the recent reporting dates (combined with anything that indicates default) are impacting your credit scores in the largest category (History). Even though you may have paid them off some time ago, the fact that they were CA's and are being updated makes them appear recent to the scoring software. This is problematic with credit scores and is why you will see many people post that a paid collection is just as damaging as an unpaid one. A recent "Date Last Reported" makes even an old, paid, collection look like it just happened (to the software). Credit scores are, understandably, skewed to how you have paid lately = deductions.

"...What methods can i use to fix this..."

Leave them alone if they are positive TL's. If they are all CA's, dispute through the CRA's first, then follow up...There's lots of instruction here and elsewhere on the internet.

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Thanks... great responses

They are negtive reporting items... I want to get these deleted and/or get them to stop reporting.

Wouldn't I need to contact Collection Agency (CA)first to get the prof of the debt then dispute it with the CRA, then I can send the informaiton to CRA stating they have no validation (in this case) of the debt therefore having them remove it?

Do I need to contact the original creditor before the collection agency. I am constantly searching this site. Thanks!

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