Account Status Closed Derogatory

Updated: 15th May, 2022
Ashley Astors
Verified Collections Expert

What does a closed, derogatory account mean?

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Closed accounts with a status of 'derogatory' could mean a few things- 1. the account has a history of 150+ day late payments, 2. the account has been charged-off by the creditor (they gave up hope of collecting), 3. the account has been sold to a collections agency.

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