Confusion continues over here in vanililand.. Friend's credit report has a Sears card that was charged off in 1998. Was paid last year. Yet, I JUST now noticed that it is still being reported as late. In other words, the most recent lates on the account on EQ are listed as June 02, July 02, . Can they continue to report these lates to Equifax even though the account has been charged off and with a zero balance since 1998 and the amount owed was paid to them anyway last year. (Friend didn't want to deal with CA and paid OC) . I was under the impression that they couldnt keep reporting as late after the charge off and zero balance since Sears is the only account that seems to have done this. As a result, the account is listed on EQ as 43 times 90+ days late since they ahve been counting everything since 1998 as late. Is this right??
Sears is playing this game we me as well. They now list it as a paid collection but as currently 120+ days late. Kinda funny how it can be 120 days late and paid in full at the same time. Also they continued reporting it as 90+ days late after the charge off even while their CA reported it. I am reasonably sure the CA will delete, Equifax has supressed already but TU hasn't. Even if they don't I have several FDCPA violations to use for leverage. I am waiting for a dispute to finish to see how Sears reports it now. If it stays the same I will likely be filing suit. It is my belief that this is illegal and if Sears is doing it to other people I would be interested in dropping hints in the intent to sue that class action status may be a result if legal action is necessary. I think someone mentioned here that this may be reaging of the account that violated the FCRA. Like you I am also looking for more opinions.
F.Y.I. SEARS had to pay BIG BUCKS $$$$$ because they collected bills that were supposed to be dismissed in BK...like 10 years later...
So I guess we have to figure out WHY it's illegal. It is clearly shady! I will try to do more research to find out exactly what they are violating. Anyone else care to add ?
Actually, the lawsuit against Sears was prompted because of bad faith in their reaffirmation agreements. They told the debtor that if they reaffirmed the debt, Sears would reopen their credit line when the balance was paid off. Instead, Sears immediately canceled their accounts and cited the BK as the reason. I was glad that I never agreed to reaffirm with Sears. One thing that I have done successfully is that when I have a paid account that shows currently late or even an open account that showed currently late and I wasn't, I challenged the status of "currently late" as the inaccuracy. TU and EQ delete the closed accounts. TU deleted the open account, EQ changed the pay history to never late.
I think we already disputed with TU and EQ and it's still on there. I have to double check our records.
