Asset Acceptance is not the first or last Debt Collector to do this, but they will be my last. In trying to understand why my report says that I have a current collection account, I ordered all credit reports and did some digging.
Because debt collectors do not extend credit, I tried to understand why they are listed in the other accounts sections of my report, with a status of collection.
Everyone should understand that the way data is stored in the cra’s database, having a tradeline that is a collection is impactful, but even more damaging if they actually say it an “open non revolving’ retail account, with a status of collection account.
These accounts don’t show up in the collections section of your credit report, but will display as a negative account.
I am in the process of re disputing all of the cra’s…because it’s both illegal and against all governing rules for AA and the CRA’s to do this.
Anyone else ever resolve this issue? Account is from 09, but still shows up as an active unpaid collection.