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cgonzalez1818

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Credit collection reporting issues
I have a credit card that has gone to collections but on my credit report it doesnt reflect that. It just shows the current credit card and all months as No Payment. although I have been paying the collection agency for 3 years now in monthly installments. Is the bank doing something wrong and is this form of reporting actually hurting my credit more? Also are monthly payments on collections supposed to reflect on your credit report?

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Monthly payments on collection accounts are not counted for on-time payments and do nothing to build credit. So no, the payments are not to be reported, but the balance owed to the debt collector should be updated as it changes. You are lucky that the original account is not a Charged off account, it sounds much more positive on your reports than it should be. You would be extremely foolish to bring attention to this as it would cause you harm. Let it be.

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