I have been studying my husband's credit report and this is how the collection account appear, does this seem accurate?? This a former utility company last used service in 12/95, have no idea when collection agency took it over, we never knew the bill existed anyway this is how it appears: Company Inovision Inc Account Number PECO ENER-XXXX Whose Account INDIVIDUAL ACCOUNT Date Opened Last Activity 12/1995 Type of Account Open Account Status 120+ DAYS PAST DUE Months Reviewed 26 High Credit $246 Terms Balance $246 Past Due 246 Date Reported 01/2001 Times Past Due Previous High Status: 120+ days past due 10/2000; 30 Days 00 60 Days 00 90 Days 01 Description COLLECTION ACCOUNT Would this appearing open cause more damage?? Just trying to figure this out?? Thanks Mom
Re: Should account appear open Mom, unfortunately I think this is a major blow to his credit score. It appears that the account is still open and he is continually delinquent. 90 days late is much more damaging that 30 days. Even though the last activity is 1995, the date last reported is Jan of 2001. It shows he has been continually past due since 1995. Maybe it would be better to pay? You did try to negotiate with them didn't you? I thought you had mentioned that before. Maybe you should ask Junum for assistance? I'm not sure if disputing would work since they have recently updated this. It looks like it is still fresh in their files, but it is worth a try. I feel this is dragging his score MAJORLY. On the otherhand, I bet your score is AWESOME! ;-)
Re: Should account appear open Thanks Miles, the way this is reported looks somewhat wrong to me. I tried several times to settle this even got another threatening letter today final notice yeah about the fifth one, they won't budge at all I even wrote to the president of PECO energy no dice. Still don't know my score and at this rate don't know if I ever will lol. I was hesitant about Junum b/c it is only one item but if this is killing him that much it may be worth the shot??
Re: Should account appear open Mom of 3, Any collection or negative definitely damage your credit score or lower your score. That means it hurt you getting credit cards or better credit card deals such as low APR,rewards,no annual fees etc.
