CSO Financial, Inc.

Ms. [redacted] submitted a complaint directly to us on April 14th and as a result we have already investigated this issue. We investigated this and found our collector to be in error regarding her statement that the account would credit report for seven years past the last payment date. On April 14th,...

2016, we reminded all of our collectors that the credit reporting statute of limitations is seven years on open accounts and the time period starts with the date of first delinquency and not the date of last payment. CSO's policy, as required by the Fair Credit Reporting Act, is to report accurate information and this account was reported as a paid in full collection account in October 2015. The date of first delinquency was February 9th, 2012. CSO policy is to not remove paid in full collection accounts from credit reporting.