Types of accounts on credit reports?

If they are being reported by a collection agency then they should ALL say collection agency attorney or collection. Doesn't matter what it was originally since it is now a closed account. It most definitely is NOT a factoring account.

I have a sticky thread here that talks about these things, you should check it out.

http://www.debtconsolidationcare.com/collection-agencies/thread64523.html

Thank you for the information, but I'm still stumbling around on this and don't even know if it is important.

For instance I see this:

Loan type: Factoring Company Account
Remark: Placed for collection

Then it also has Pay Status: Collection Account
Account Type: Open Account

Then the date that it was placed for collection and the estimated date that it will be removed. The original creditor says Chase Bank and then it has the amounts. All of this is listed under Asset Acceptance LLC.

I am guessing this is an old credit card account, but I don't understand what all this means.

Ok the loan type is wrong and is in violation
account type as open is also wrong and in violation

does it show a past due amount?

Quote:

Might be a duplicate account....plus it saying past due is wrong as well.

No, it is showing two different account numbers and way too much difference in what they say is owing on the accounts. If I send them a letter and I point out all that you've noticed - what should happen next? Is this just a way for them to know to go back and change the information?

Also wondering is this the time to send a DV letter to these people or is that a different issue?

Thank you for all your help!

Quote:

Should I just send a DV letter disputing the debt or mention the other things/violations in the DV letter as well? Thank you both!

Quote:

Is there a sample letter somewhere that I could look at? I've seen just a plain DV letter, but don't quite know how to write all this. BTW, are all states the same when it comes to this? Thanking you again, Paul! :D

Well it depends on the state you are in. If you are not in one of the few consumer friendly states (Texas being one of them) you will just get a canned "the 30 day validation period has expired".

Your best bet would be to attack the listings themselves and attack their "permissible purpose". As I mentioned above they are reporting all wrong. They will likely ignore you and/or just respond with a bogus letter. There are steps to take to see this through. That link I posted above, it has the way step by step and even has a sample letter. You may have to take it to court..but if you get that far it will be worth it because more then likely will they not only delete the information, they will pay you for it as well in an effort to avoid being sued or to make said suit go away.

How can they use the 30 day validation period has expired when I had no notice of it until I just saw it on the credit report?

Or are you saying to not do anything at this point and wait for them to sue me? I'm afraid from what I've been reading that I won't get a summons or any kind of notice either. Thank you, Goldenbast. ;)