credit report question

jbarto65 · Joined: 04 Nov 2007 Posts: 627 0.00 Dollars($)

If a company buys an old debt should it be showing up twice on my credit report, it is showing two negatives for the same debt, this does not seem fair, if the original creditor decides to sell the debt and the buyer starts reporting it should all be reported under one entry, I have disputed an incident like this on my report, has anyone seen this happen before?

I am posting this question on the other credit forum also, hopefully between the two I will rally some advice.

adonis · Posted: Wed Mar 12, 2008 9:39 pm Post subject:

Jbarto,

I have heard people coming into this situation. In such cases, they generally ask the creditor to dispute it or themselves write a letter and send it to the credit reporting agencies. And, the same debt need not be shown twice. So, you need to dispute this with the agency. Do you know the agency where your credit information is being sent by the creditor?

jbarto65 · Joined: 04 Nov 2007 Posts: 627 0.00 Dollars($)

I did file a dispute and let the credit reporting agency know that it is indeed the same debt being reported twice, I am hoping that they will eliminate one of them, I don't think it is fair to be hit twice for a negative, so hopefully they will clear it up soon. When and if they do take one of them off will this raise my score any?

jbarto65 · Joined: 04 Nov 2007 Posts: 627 0.00 Dollars($)

I have been answered on the credit forum, apparently they are both reported as the same under two different companies, they assure me that it does not affect your fico score. That was a relief to know, I was really mad when I seen that listed as two under the negatives.

these accounts have the potential to be sold many times and many, many companies reporting on the same account. I am really happy to see that it does not affect your fico. Very Happy

fireyone_02 · Joined: 20 Mar 2008 Posts: 280 2.03 Dollars($)

Glad you got your answers. It was info I myself needed so thanks for listing that quesstion. Where do you find a list os state SOL? Any one know. I looked at different sites and they give different lengnths of time not sure which is correct.

jbarto65 · Joined: 04 Nov 2007 Posts: 627 0.00 Dollars($)

"http://www.fair-debt-collection.com/statue-limitations.html"

I will pm it to you also in case it is deleted here, go to your personal messeges here and check it out.

[Link deactivated as per forum rules. Thanks.]

fireyone_02 · Joined: 20 Mar 2008 Posts: 280 2.03 Dollars($)

Thanks jbarto. I am going to bookmark the page. I am trying to also find out when the sol on an account starts. I keep getting mixed info. The majority of people feel it is from the time of last patment. There is no date of last activity listed on mine.

fireyone_02 · Joined: 20 Mar 2008 Posts: 280 2.03 Dollars($)

What kind of account is a credit card considered? The only thing I can see it would be is a contract. Am I assuming correct?

jerry

Yeah it is. Usually a revolving credit card is regarded as Open Account or Written Contract.

Thanks,

Jerry.

fireyone_02 · Joined: 20 Mar 2008 Posts: 280 2.03 Dollars($)

Thanks. At least I figured that one out the right way. I just recently started checking my reports as all this identity theft stuff started to become a problem.

jbarto65 · Joined: 04 Nov 2007 Posts: 627 0.00 Dollars($)

It is good to keep a close eye on things at least you can catch a problem when it first happens.

fireyone_02 · Joined: 20 Mar 2008 Posts: 280 2.03 Dollars($)

I am learning that the hard way. Never thought much about my credit report before I started dealing with a collection agency. I got on here and seen how many times peoples report were screwed up and thought maybe I better check.. I will keep an eye on mine now. I found medical bills on mine that were suppose to be covered by insuranceback in 2003 when I had full medical. Now it is too late to clear them up. I at least learned how to dispute them.

jbarto65 · Joined: 04 Nov 2007 Posts: 627 0.00 Dollars($)

Good that you are learning, may be the hard way, but at least you are learning. goodluck, hope things get better fireyone.

fireyone_02 · Joined: 20 Mar 2008 Posts: 280 2.03 Dollars($)

This site has definately been useful in helping me understand just how important credit and checking it is. Things can only get better.

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