Collections Transferred...

[frabbiele]

If an account is closed due to being sold/transferred to someone else for collection, yet both are showing on my credit reports, should I dispute these or is this typical reporting?? Thank you for any assistance!

[jjgross]

Originally Posted by frabbiele

If an account is closed due to being sold/transferred to someone else for collection, yet both are showing on my credit reports, should I dispute these or is this typical reporting?? Thank you for any assistance!

Yes they both can report,but they have to report correctly .

[Trish]

An OC and a CA can both report the same debt but only one can report a balance. Usually once the OC sells the acct, they will put it at a zero balance.

[Jackie]

How can I keep collections agencies from selling my old accounts to other collection agencies, they have been passing it around and it has been over 7 years. I feel like the old account is never going to be removed because they keep passing it around. I have not spoken to any of the collection agencies. The accounts are for old credit card accounts.

[Trish]

CAs can transfer debts or resell them all they want.........but once it's hit that 7 year mark (from the DOFD - date of first delinquency), it can no longer be reported.
So if the acct is over 7 years old, you can dispute it as obsolete and it should be removed.

[CreditCrisis]

I have an account that was sold and both the OC and CA are reporting a balance. what kind of letter do i send and will this get both accounts deleted?

Thanks!

[Trish]

Originally Posted by CreditCrisis

I have an account that was sold and both the OC and CA are reporting a balance. what kind of letter do i send and will this get both accounts deleted?

Thanks!

I would just dispute both of them with the CRAs as incorrect balance.

[CreditCrisis]

I am creating my CRA dispute letters now. on the accounts where it is true, would it be ok to dispute them like this?:

Portfolio Recovery Associates – HSBC-5489 - violation of both the FCRA (sect. 623) AND the FDCPA under False or misleading representations [15 USC 1692e].

Because they really are furnishing the wrong info? ok to go?

[Trish]

Originally Posted by CreditCrisis

I am creating my CRA dispute letters now. on the accounts where it is true, would it be ok to dispute them like this?:

Portfolio Recovery Associates – HSBC-5489 - violation of both the FCRA (sect. 623) AND the FDCPA under False or misleading representations [15 USC 1692e].

Because they really are furnishing the wrong info? ok to go?

It really does no good to quote or point out violations to the CRAs. They honestly don't care.
Just dispute both as incorrect balance........because one of them is wrong by reporting it.

[CreditCrisis]

Thanks Trish