"Item in good standing" vs. "Paid less than full Balance"
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  1. #1
    Join Date
    Jan 2007

    "Item in good standing" vs. "Paid less than full Balance"

    I am confused> My Experian Credit Reports lists an "Item In Good Standing" as follows:

    Status: Paid in settlement.

    Date Opened: 10/2004
    Type: Utility
    Credit Limit: NA

    Date of Status: 12/2005
    Terms: 1 Months
    High Balance: NA

    Your Statement:
    Account closed at consumer's request

    Creditor's Statement:
    Account legally paid in full for less than full balance.

    I have several probelms w/this item:

    1. it's listed under the "Items in Good Standing" but then noted as legally paid in full for less than full balance. Can this hurt my score?

    2. I did have Verizon DSL service for a short time two years ago (it sucked). I cancelled, paid my last bill (IN FULL), end of story. No settlement, etc. Never heard from them again. Don't have any back up info. for cancellation/payment - it was a $30 internet bill for pete's sake. :(

    3. This item appears also to be from same/similar creditor as an item recently disputed as "not mine" and deleted from my report. (Verizon Virginia Inc. - it really wasn't mine)

    How should I proceed? Dispute or not?

  2. #2
    Join Date
    Feb 2007
    yes it is probably hurting your credit score, you can dispute but unlikely will do any good since you have no proof to backup why you are disputing it.

  3. #3
    Join Date
    Aug 2003
    If you assume that nothing will do any good, then you will be stuck with all the erroneously reported BS that most consumers are stuck with.

    What account number is reported? Does it match your records?
    Or call Verizon and check on what customer address was associated with this account. Their fraud department should be able to provide this information, as they routinely deal with misidentification and id theft.
    It may in fact be someone else's account.

    If it is not your account, it shouldn't be on your reports.
    If you paid your account in full, on time, it shouldn't show otherwise.

    If you dispute errors on your reports, and they "verify", you can sue them.
    Your statements and checks (copies from your bank) are your proof. Alternatively, if it is not your account, you would NOT have any record of it, and if you sued for misreporting, it would be their problem proving it was accurate.

    What are your current FICO scores? Is this the only negative item on your reports?

    Note that Verizon and the CA it uses probably have some of the poorest records of credit reporting misidentification and erroneous reporting of any telecom company.

  4. #4
    Join Date
    Jan 2007
    I am going to start w/Verizon and then go from there. It's true, I shouldn't be stuck w/inaccurate crap on my report. Thanks for the advice folks.

  5. #5
    Join Date
    May 2003
    Step 1 - do a simple, what is this about inquiry with VZ.

    If it is your account; my step 2 would be asking them.

    Why are you holding my credit report hostage, just because I had to cancel your service because your company could not, or would not provide service which was as reliable as your company promised?

    Do you really want me to add the consumer statement that says. "The account was paid in full, not less than the full balance, however the data furnisher is holding a vendetta because I had to notify them that their service was not being delivered as their company promised."
    Then depending on their answer to that, deciding whether you want to sue, force them to prove in court that they are reporting 100% completely, accurately, and verifiably, and not holding a grudge. Meaning that there would have to have been a sufficient enough 'balance' to warrant the 'PAID LESS THAN FULL BALANCE' comment.
    An educated consumer.

    Daniel Webster: You seem to have an excellent acquaintance with the law, Sir.
    Scratch: Sir, that is no fault of mine. Where I come from, we have always gotten the pick of the Bar.
    The Devil and Daniel Webster, Stephen Vincent Benet


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