Hi, Today I bought my scores and in looking over my CR's I discovered a few things I am questioning. 1.) If a CC has been closed by subscriber then how can that same CC be late 25 times after it was closed? 2) What's the difference, if any, between a Factoring Company and a JDP? Is there any difference between the two when they report, or in how they are viewed by lenders, etc. Thank you, Julie
1) If it has a balance and was never brought current, it can be; and, 2) A "data factoring company" is one that services current accounts as opposed to a distressed or junk debt purchaser which purchased defaulted debt. Probably a FDCPA and FCRA violation but, there has yet to be any authority to state as such.
So I understand if I owe a balance and the account is still open then it can be late but this CC is closed. The OC First Premier is reporting on my EXP report that I am late more than 90 days 25 times. I just don't understand how it can be closed and charged off as a bad debt but still be late each month. When you say a "date factoring company" services current accounts then that would mean that they are working as a indy of the OC or CA right??? So how come both the OC and DFC get to report on my CR? Big, big thanks. juliej
