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Original Lender reporting Account in Collection Status
I have a auto trailer loan that fell behind early 2015 because of monthly allotment issues and lack of connectivity due to military travels. By the time I realized the issue, the original company submit had the trailer up for repossession; however, I immediately contacted with the lender and paid all late charges--beginning account current. I understood that this was going to have a impact on my credit report and accept responsibility for those late payment between OCT-DEC. I was informed that my account was current with the lender and continued to pay on the account on time. After recent pull of my credit report, I notice that the lender have been reporting that my account is an collection account; hence, having continual impact on my credit. If I know that fact, I would have paid the entire account off a year ago; however I have a year worth of collection reporting on my credit report.

Can a lender transfer a account to their internal collection department, thereby reporting it has a collection account without notification to the consumer? I am willing to pay this account off now, but want to have the lender remove the collection account status during the time I paid on the account. I have no problem with the lender reporting the late payment period.

Any input or suggestions?

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