Hello, I have enjoyed learning quite a bit from reading previous posts in this forum, yet I have a question in a particular case in my credit report. I am attempting to purchase a home in the next year or two, but there is a blemish on my report that I feel I need to dispute. There is a tradeline from a charged off credit card that was reported on June 2001 (young uneducated kid with a credit card - i know) for $3800. That debt was then sold to NCO Financial and all of a sudden, it's being reported for $7000 on December 2005. But I have collection notices from NCO Financial to pay the $3800 on Feb 2006, July 2006, and Jan 2007. No where does it show $7000. Clearly the $7000 is reported in error and I would like to dispute this. I have done some research on NCO and have discovered that their collection agents are quite cut-throat. I do not want to re-age this tradeline. So here are my questions: Can I file a dispute with the CB (Experian)? If I do, will NCO have my personal information and phone number? Or should I file a dispute directly with NCO? preferably by letter and such? The Jan 2007 letter from NCO was an offer to settle this matter for only $900, which has now expired. I am sure another offer will be received in the mail sometime in the future and wonder if I should await that opportunity to just settle this matter for all. I thank you greatly for your assistance to these questions.
You don't have to worry about that much right now. They already did that for you. Nice of them, wasn't it? Of course you can. Probably not. They should have all the information they need anyway. After all they have enough to be able to put it on your credit report, don't they? They also have your name and address or they would not have sent you a letter. You should always do that no matter what. I say don't ever pay them but you might have to in order to find a lender for a home. Many lenders will not loan until all that appears on your credit report is paid. Many will loan regardless but at much higher rates. Best you get it off your credit reports before you go looking for a loan.
