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

Discussion in 'Credit Talk' started by jjstar, Feb 14, 2007.

  1. jjstar

    jjstar Member

    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. collectman

    collectman Well-Known Member

    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. ontrack

    ontrack Well-Known Member

    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. jjstar

    jjstar Member

    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. jam237

    jam237 Well-Known Member

    Step 1 - do a simple, what is this about inquiry with VZ.

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

    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.

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