Anthony or Steve Z

Discussion in 'Credit Talk' started by steve, Aug 28, 2000.

  1. steve

    steve Well-Known Member

    Are either of you aware of any rulings on the Equifax deal where they have it set up so a consumer can be reported as having a zero balance but as also being 120+ days currently past due as of the date reported? The legend key state "pays or paid 120+ days past due." My point of dispute is that they are required to update the status. An updated status would be current. Stating that as of a date reported 5 years after the debt was satisfied the consumer was perhaps 120+ days past due shouldn't count as an updated status. What do you think? It seems to me the update could take place without a creditor verification. It should be self-evident. Right?
  2. Crdt Dfnse

    Crdt Dfnse Well-Known Member

    Not Sure What You Mean

    Iâ??m not real clear on what your driving at, so if the following doesnâ??t adequately address your question just let me knowâ?¦

    If an account (five years old) had been paid off, but at one stage was 120 back. It should currently (today) be shown as a PAID STATUS, was 120 without further file variations. Now if youâ??re saying that Equifax is showing the account current, as though it werenâ??t paid off, and 120 back. Well then you have an issue given the account is actually paid in full.

    Keep The Faith,
    Anthony Villaseñor
  3. steve

    steve Well-Known Member

    RE: Not Sure What You Mean

    I guess there is only one way to make it clear. It shows like this.

    (Company Name) LA (Bal) (stat) DR
    NW Education Loan 6/95 0 I5 01/00
    Student Loan
    Settlement Accepted on Account

    LA is my shortened version of Last activity, Balance, Status, and Date Reported.

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