Inaccurrate Collection Account Verified, now what?

[UglyDave]

I recently reviewed my credit reports and Experian showed a collection account for the local electric company in the amount of $12,800. My electric bill is about $150/month and is current. I disputed the account with Experian stating that it is not mine. I just got my new report back from them and it says they verified it as accurate!

A few years ago I had a situation where someone with a similar name (same first and last, my middle is Matthew, his is Micheal) had a late on a Bank of America business credit card that showed up on my report. That was resolved easily enough. I think that the electric bill showing up on my report is for this other guy's business.

What should my next step be?

Thanks for your help. I want to buy a new home by the end of the year and this is the only black mark on my credit.

[Trish]

Holy cow! :eek: That is some electric bill!

I would contact the electric company. They should be able to fix the error if this isn't your bill. Surely their records will show that the name, address or both does not match yours.

They will be able to remove it from your CR.

[UglyDave]

Thanks Trish, I'll call the electric company today.

I was surprised when I saw the account, then dunbfounded when the credit bureau said they verified it as accurate.

[Trish]

It was probably all done automatically through their computer system. So all they had to do was match up a couple of identifying items (which were reported incorrectly in the first place) and boom.........verified. That's the problem with these CRAs. :rolleyes:

[jjgross]

Originally Posted by Trish

It was probably all done automatically through their computer system. So all they had to do was match up a couple of identifying items (which were reported incorrectly in the first place) and boom.........verified. That's the problem with these CRAs. :rolleyes:

If somebody told them Lassie was president they w:rolleyes:ould verifiy it.

[UglyDave]

Originally Posted by jjgross

If somebody told them Lassie was president they w:rolleyes:ould verifiy it.

Lassie is not President...She would have found Bin Laden by now.