Palisades on my Experian report

[onthedot]

I got a True Credit alert that a "Major Derogatory" appeared on m EX report, and it's Palisades (Verison / Sprint I think), saying " Grid Code G (Collections)". I couldn't find anything about what this means. Anyone have any idea? Thanks!

[justincase]

This is a page from the CDIA Manual, it's just the codes used by CRA's Metro 2 Format.

Payment History Profile

Contains up to 24 months of consecutive payment

activity for the previous 24 calendar months prior to

the Date of Account Information (Field 24) being

reported. Report one month’s payment record in

each byte from the left to right in most recent to

least recent order. The first byte should represent

the previous month’s status. Values available:

0 = 0 payments past due (current account)

1 = 30 - 59 days past due date

2 = 60 - 89 days past due date

3 = 90 - 119 days past due date

4 = 120 - 149 days past due date

5 = 150 - 179 days past due date

6 = 180 or more days past due date

B = No payment history available prior to this

time. A “B” may not be embedded within

other values.

D = No payment history available this month.

“D” may be embedded in the payment

pattern.

E = Zero balance and current account

(Applies to Credit Cards and Lines of Credit)

G = Collection

H = Foreclosure

J = Voluntary Surrender

K = Repossession

L = Charge-off

No other values are acceptable in this field.

If a full 24 months of history are not available for

reporting, the ending positions of this field should be

filled with Bs.

The Payment History Profile is intended to be used to

report monthly history, regardless of the Terms

Frequency.

Reporting of the Payment History Profile provides a

method for automated correction of erroneously

reported history.

Exhibit 5 provides examples of reporting payment

history.

For important information:

• Paid accounts - refer to Frequently Asked

Question 38.

• First-time reporters - refer to Frequently Asked

[Amerikaner83]

I got a True Credit alert that a "Major Derogatory" appeared on m EX report, and it's Palisades (Verison / Sprint I think), saying " Grid Code G (Collections)". I couldn't find anything about what this means. Anyone have any idea? Thanks!

You have a new TL - it's a collection account. That's pretty much it.