Can collection accounts be categorized as "open" if they have a "closed" date? and If they don't reflect a "closed" date is that a violation..these accounts reflect "placed for collection" but some of them have no close date.
An account that has a "Date Closed" is not considered open. Are the collection accounts marked as paid? If they're paid accounts, and marked as such, then they are considered closed. I don't think not having a 'closed' (rather just a paid notation) remark would affect your score or chance of approval, rather it is having the account on your report which would keep you from an approval. If it is marked unpaid, then it is considered open.
As far as the 'open' and 'closed' that you are seeing on the same account, I think the open is referring to the type of account eg open, revolving, installment, etc.
Thanks....I just finished reading the instructions on my credit report and it clearly states that "open" refers to the type of account. Thanks!
