Help me decipher this credit card debt from Transunion?

[Mike Chern]

Tenant has credit score above 650, but I am really concerned about this item in his credit report.

I searched internet, someone said "cancelled by credit grantor" is not a bad thing.

But Balance really scare me. Although past due amount is quite small. 

I am not sure how to read this item, can anyone help?

[Account Closed]

Originally posted by @Mike Chern:

Tenant has credit score above 650, but I am really concerned about this item in his credit report.

I searched internet, someone said "cancelled by credit grantor" is not a bad thing.

But Balance really scare me. Although past due amount is quite small. 

I am not sure how to read this item, can anyone help?

 It simply says he is $1,613 over his $26,500 credit limit and stopped making payments about 3 months ago. With an amount owing that large ($28,113) I wouldn't be surprised if the bank starts a lawsuit to collect. His credit score used to be in the mid 700's with a credit line like that. In this case, being cancelled by the credit grantor is a very bad thing.

Something has happened. Ask what is going on. If it is medical problem, automobile accident or job loss and he has corrected the problem that is one thing and if he can document that, it's probably okay. Things happen in life. 

However, if it is a divorce or or other problem, (was arrested, went through rehab, IRS problems, child support problems, or such) the matter hasn't been solved yet and that is a problem. I'd have him clean up his act and come back when he has things straightened out.

I always ask why the credit took such a big hit.