Victoria Secret reporting wrong?

[scottb99]

WFFNB/VS

Account Number: XXXX

Current Status: CHARGE-OFF

Account Owner: Individual Account.

High Credit:$0

Type of Account: Revolving

Credit Limit:$230

Term Duration: Terms Frequency:Monthly (due every month)

Date Opened:12/1997

Balance:$693

Date Reported: 06/2007

Amount Past Due:$0

Date of Last Payment:08/2003

Actual Payment Amount: $35

Scheduled Payment Amount:$30

Date of Last Activity:10/2003

Date Major Delinquency First Reported: 04/2004

Months Reviewed:45

Creditor Classification:

Activity Description: n/a

Charge Off Amount:$723

Deferred Payment Start Date:

Balloon Payment Amount: $0

Balloon Payment Date:

Date Closed:

Type of Loan:Charge Account

Comments:Charged off account

81-Month Payment History

listed as 180 days late every month between 05/05 until present.

This account was charged off in 04/2004. DOLA is 10/2003, but they have last payment as 08/2003. They have amount past due listed as $0, but yet are reporting 180 days late every single month since 5/05 until present. Can they do this?

[swirlgirl]

Hi, from this I think that you made your last payment 08/2003. Between August and October, something on the account changed, they added interset, updated an address, etc. So, the last activity was 10/2003. Since the account has been charged-off, the balance should be $0 as it has been wiped off their books.

Concerning the status of being 180 days late, you should dispute this with the CRA, telling them that the account has been closed since 2003.

Has this been sent to a CA?

[scottb99]

Has this been sent to a CA?

Yes it has gone to collection, however the CA has not reported as of yet.

Since the account has been charged-off, the balance should be $0 as it has been wiped off their books.

That is what I was thinking, but I have other CO's and they all list balances too.

Concerning the status of being 180 days late, you should dispute this with the CRA, telling them that the account has been closed since 2003.

This was the biggest question I had with this, how can they continue to report 180 day late payment on a CO account? I will dispute this with EQ. EX and TU show it as CO and not reporting lates.

[Fizzle1979]

I have an auto loan repo that has 90 days late 38 times since I still owe them money. It says charge off, but still lists the amount owed. I've been told Charge off is just an account term and it doesn't really mean anything. More than likely they still own the debt...now once they sell it to another company, they must list the balance as zero. At least that is my understanding.

[scottb99]

More than likely they still own the debt...now once they sell it to another company, they must list the balance as zero. At least that is my understanding.

They sold it to Anchor Receivables Management, they are trying to collect on it now.

[Fizzle1979]

They sold it to Anchor Receivables Management, they are trying to collect on it now.

Without sounding like a smart @$$ are you sure they sold it and didn't just assign it to ARM?

[scottb99]

Without sounding like a smart @$$ are you sure they sold it and didn't just assign it to ARM?

Not sure, I didn't think of that, this is quite the possibility. ARM has not yet reported anything to my CR's but they have been calling like crazy. I requested for them to send me something in writing.

[willingtocope]

You guys might want to edit your signatures and avatars so it isn't so hard to actually find the meat of your post...they're a little difficult to read.

But...first "charge off" does NOT mean they've written it off their books. Its only an accounting term that has little meaning to us debtors.

On the other hand, if it says a $0 balance and "sold to another lender" that does mean that they've written it off and sold it to a JDB. That's who you're dealing with now.

As for the 180 day late thing, think of that as a color...once it turns red, it stays red. Once you've been 180 days late, you stay 180 days late unless you bring it current. (There's no box for them to check that says 734 days late).

[scottb99]

As for the 180 day late thing, think of that as a color...once it turns red, it stays red. Once you've been 180 days late, you stay 180 days late unless you bring it current. (There's no box for them to check that says 734 days late).

Makes sense, what doesn't make sense is the reporting that the "amount past due" is $0. How can you be 180 days late on a past due amount of $0? If they had amount past due as $723, which was the charge off amount, then I would probably understand it a little more.

[Fizzle1979]

You guys might want to edit your signatures and avatars so it isn't so hard to actually find the meat of your post...they're a little difficult to read.

Changed the siggy. Changing the Avatar size is above my computer skills!

Scottb99 - I'm sure some of the information is incorrect. That is going to happen even after they CRA's "verify" it. I had a CA say I filed BK 7, 11, 12 or 13...when I NEVER filed BK since I was put on earth. It only took 6 months and one ream of paper before it came off.

[willingtocope]

There are certainly lots of inconsistencies there...but...if indeed they have sold it, the perhaps in the next update cycle all will be made clear. You also have to realize that not all OCs report to all CRAs every time. Under the FCRA, they are required to make each report complete and accurate, but they seldom do.

Check all 3 reports. Dispute anything that doesn't correlate.

[scottb99]

Thanks, SOL is almost up on this and I want to try to get rid of it, it belonged to the ex-wife, she even "won" that debt in the divorce, she filed BK7 a few months after divorce was final, it was included, BUT now they have decided to try to collect from me, which I know is well within their rights to do so. I have no interest in paying this debt however.

[scottb99]

Well it seems Anchor Receivables has now passed the collection off to Plaza Associates. Got a "Settlement Offer" / dunning letter from Plaza this past week. They have not reported anything as of yet. Going to DV them, Anchor seemed to go away quickly with a phone call asking for a dunning letter, so they may not have much or they may just be collecting on behalf of VS. Want to nip this before they can report. The VS TL still is updating monthly.

[NYSWEETY01]

Mine's is a NY &Co card that I got back in 1998. Date of last payment was due to a judgment they won against me in 2004 ( default - I know stupid).

Mine's is a little different, I paid the full judgment - I list as $0 past due but $20 balance...what a joke

I sent a Verification letter 2 weeks - just received green card - only change was a update of last payment

I just sent a complaint to BBB and will folllowsuit with a ITS and another compliant to AG if they don't respond within 15 days as outlined in my verification letter.

I sent another round of disputes with the CRAs - I cannot be 30 days late on a judgment that was paid in full...

On a side note - My mother has a NY & CO acct on her reports that have posted positive but she never applied for the card or don't know what its about. Its never been late and is only helping her score...

Go figure

WFFNB HAS SOME SERIOUS ACCTG ISSUES..