The new Experian payment history legend, Verizon bizarre reporting and Experian incorrect verification

A client disputed this PAID Verizon account TWICE with Experian and it is STILL reported OBVIOUSLY incorrect as “$653 written off”:

Experian reports:

Status: Paid,Closed. $653 written off

My client disputed twice that he PAID the account in full.  Verizon wrote $0 off, as evidenced by its reporting of the balances to Experian:

Oct 2010: $0 / September 23, 2010 / no data / no data
Sep 2010: $238 / August 23, 2010 / no data / no data
Aug 2010: $446 / July 23, 2010 / no data / no data
Jul 2010: $653 / no data / no data / no data

My client made payments and paid the account in full.

How can Experian VERIFY this obviously incorrect credit reporting?

Additionally, this wasn’t a revolving account,  but an “open” account (no credit limit).

And finally, the estimated DELETION DATE is missing.  That’s not Verizon’s fault, but Experian is supposed to include the scheduled deletion date on the consumer disclosure .

Here is an example from another account:

Why is the Verizon account NOT scheduled for deletion?  Will it be reported forever?

The Experian NEW report format and payment history.

From the top of the consumer disclosure:

Verizon reports the account as CO (chargeoff) until June 2010.  In July 2010 it starts to report the account as C (collection).  Why? Because my client started to make payments?

Experian now has several new codes such as CRD (creditor received deed) and PBC  (paid by creditor).  I’m not sure what that means.  Why would the creditor PAY the debt?

D (defaulted on contract) also doesn’t make much sense to me.  Isn’t EVERY charge off a default on contract?

I can’t see how these new codes are an improvement. 

I’d ask Experian, but the only way to get an answer from Experian is to sue them and to pay thousands of dollars for depositions.  However, they MUST have a manual for creditors and it would be great if someone would make it public so that we all can see how accounts SHOULD be reported.

Comments are closed.

RSS for Posts RSS for Comments