Posted on: 29th May, 2007 01:42 pm
I trying to fix my report and there are two accounts listed that I want to sort out. These have been sold to collection agency. 1 bureau shows both the accounts under ca's name but on the report from other 2 bureaus accounts are appearing under name of the original creditors & ca.
Hi Newsom,
Welcome to Mortgagefit discussion board.
As these 2 accounts are appearing under creditor as well as the collection agency, check how it is being reported.
Normally in a situation when the debt is sold original creditor lists the account as charge off sold or transferred and the balance should be reported as zero.
If you find it not being reported as I mentioned then dispute it with the credit bureaus to get it corrected.
Thanks
Blue
Welcome to Mortgagefit discussion board.
As these 2 accounts are appearing under creditor as well as the collection agency, check how it is being reported.
Normally in a situation when the debt is sold original creditor lists the account as charge off sold or transferred and the balance should be reported as zero.
If you find it not being reported as I mentioned then dispute it with the credit bureaus to get it corrected.
Thanks
Blue
After the debt is sold to collection agency by the creditor, the account reported under collection agency cannot be removed by disputing it with the bureaus as now they own the account. But report should show the balance under the creditor listing as zero & whatever is the latest balance amount for the account should be under the ca's listing.
Miller
Miller