I'm a newbie, I tried doing a search, but I couldn't find an answer to my question... Basically, I had an old verizon account that was put into collections several years ago (they charged me for phone calls that I didn't make, so I canceled my account and refused to pay, it was only a $100 but for some reason I was stubborn), so then about two years ago I was buying a house and they made me pay it off then... Anyway, I just noticed that it appears differently on all 3 of my credit reports, but specifically this question is about the status on my Equifax report... Currently on Equifax it shows up as "120+ days past due", but the balance is $0 and the past due amount is "Not Reported", also that Date Closed, Account Number, Loan Type, Largest past balance, and Terms are "Not Reported". And the Account Type is "Open Account"... I'm wondering which is better/worse for my score, to let them believe that it's an "open" account that's 120+ days past due with a $0 balance, or to correct them and let them know that it had gone into collections and was then paid off... Any ideas?
Going by what I've seen and been told, they are reporting a balance of zero as past due. You might want to challenge that through the CRA (Experian) as impossible ?
