uday029 Posted April 2, 2012 Report Share Posted April 2, 2012 My credit report says there is a “potential negative- closed account” – what does this mean? Account type is - Collection Dept/Agency/Attorney. It says balance of $78.00. Since it says closed, does it still effect my credit score? I signed up with one of those credit score tracking websites and it shows that my credit score was lowered by 87 points. I don't remember anything about that account. All my other credit cards and car loan are in good standing. Can I contact them and pay them off to get it off my credit report? If I do not recognize this transaction, how can I dispute it?Any information on this matter is highly appreciated.Thank you. Link to comment Share on other sites More sharing options...
BV80 Posted April 2, 2012 Report Share Posted April 2, 2012 My credit report says there is a “potential negative- closed account” – what does this mean? Account type is - Collection Dept/Agency/Attorney. It says balance of $78.00. Since it says closed, does it still effect my credit score? I signed up with one of those credit score tracking websites and it shows that my credit score was lowered by 87 points. I don't remember anything about that account. All my other credit cards and car loan are in good standing. Can I contact them and pay them off to get it off my credit report? If I do not recognize this transaction, how can I dispute it?Any information on this matter is highly appreciated.Thank you.Any negative item affects your score. Since you don't recognize the account, I'm assuming the collection agency hasn't contacted you. If you choose, you could dispute the account with the CRAs (credit reporting agencies). Is it being reported by the original creditor or by the collection agency? Link to comment Share on other sites More sharing options...
uday029 Posted April 3, 2012 Author Report Share Posted April 3, 2012 Thank you BV80. I ordered my credit report from Experian today and it was showing this negative account with Date Opened - 8/1/2011 and status - Closed. I am sure no one contacted me regarding this issue. Should I be ordering all three credit reports before I start a dispute? Can I start the dispute process online or do I need to hire someone?Thanks. Link to comment Share on other sites More sharing options...
BV80 Posted April 3, 2012 Report Share Posted April 3, 2012 Thank you BV80. I ordered my credit report from Experian today and it was showing this negative account with Date Opened - 8/1/2011 and status - Closed. I am sure no one contacted me regarding this issue. Should I be ordering all three credit reports before I start a dispute? Can I start the dispute process online or do I need to hire someone?Thanks.Personally, I'd want to know if the account is on my other CRs. You can dispute online if you choose. Just save any info that's emailed to you.You didn't say if the account is being reported by the original creditor or a collection agency. Link to comment Share on other sites More sharing options...
uday029 Posted April 3, 2012 Author Report Share Posted April 3, 2012 How do I tell if it is being reported by the original creditor or a collection agency? I ordered my experian report from freecreditreport website and it does not specify who reported it. It is shown under "Credit Cards, Loans & Other Debt" section. These are the details:Account Name ALLIANCEONE INC Account # 2641XXXX Account Type Collection Department / Agency / Attorney Balance $78.00 Date Opened 8/1/2011 Account Status Closed Mo. Payment Past Due $78.00 Payment Status Seriously past due date / assigned to attorney, collection agency, or credit grantor's internal collection department High Balance Limit Terms 1 Month Comments Details of all my credit cards and bank accounts are listed after this one. Link to comment Share on other sites More sharing options...
BV80 Posted April 3, 2012 Report Share Posted April 3, 2012 I believe Alliance One is a collection agency. If you don't recognize the account, you can send a debt validation request to Alliance, but they don't have to respond as long as their not attempting to collect.I would dispute the account based on the fact that it doesn't show a date of 1st delinquency or date of last payment. You have no way of knowing if the account is still within the SOL for collection in your state, or if it's still within the SOL for reporting to CRAs.I would dispute 1st with the CRAs before sending a DV request. Link to comment Share on other sites More sharing options...
aboss3 Posted April 11, 2012 Report Share Posted April 11, 2012 I believe Alliance One is a collection agency. If you don't recognize the account, you can send a debt validation request to Alliance, but they don't have to respond as long as their not attempting to collect.I would dispute the account based on the fact that it doesn't show a date of 1st delinquency or date of last payment. You have no way of knowing if the account is still within the SOL for collection in your state, or if it's still within the SOL for reporting to CRAs.I would dispute 1st with the CRAs before sending a DV request.So what would be the basis for the dispute in this case? Link to comment Share on other sites More sharing options...
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