Once TL is removed, can they add back?

The only way the same CA can get the account re-reported is to change the account number. That is an FCRA violation.

If they sell the debt to another CA, ask them for validation and start the dispute process again. CAs will 'move' ann account to their affiliate CA in order to harrass you, and keep the TL on your reports. I dont think the FCRA directly addresses this scenario, but with tenacity you will win in the end!

 

If a TL is "deleted" as a result of lack of verification after disputing, the TL "can" be reinserted but you must be given WRITTEN NOTICE OF REINSERTION", within 5 business days of reinsertion, this is per the FCRA.

If a CA tries to reinsert by issuing another account number, this is technically reaging, and a violation of the FDCPA. It is the underlying OC account that is the basis for reporting.

If a CA "sells the account" to another CA, per industry guidelines, the first CA is required to remove their TL.

In short, you cannot report twice, and if a TL cannot be verified, then it must be deleted. If later, a CA can verify, then written notice must be provided (within five business days). This goves you the alert, and ability to dispute reinsertion.

 

ok not to hijack but i have a question regarding the above

""If a CA "sells the account" to another CA, per industry guidelines, the first CA is required to remove their TL."


say for my instance a student loan was transfered to sallie may but the old usa funds is showing as derogaroty and status in collection/charge off would this have to be removed?

 

There's always an exception to the rules...and student loans are one of those. If the loan was transferred back to Sallie Mae, then one CA account can still show. However, I would dispute this tradeline, and request that Sallie Mae request that the CA account be "pulled back".

 

awesome. thank you very much. ill give them a call in the am.

 

P.S., one of the advantages of dealing directly is that often the terms are better (settlement amount, interest rate, etc.)

Let us know how you make out...

 

So is it considered reaging if a CA reports it as a new trade line in addition to the OC tradeline? Also, if the CA fails to validate, is the tradeline from the OC removed as well?

 

It's not reaging if they report the same date of last delinquency as the OC. What some do, however, is report the date the CA gets the account as the date of last delinquency which (is illegal and) makes it look newer and puts a bigger dent in your credit score.

For a single charge off you can have up to three entries in your credit report:

a) the OC showing it as being charged off
b) the most recent CA (only one CA per account)
c) a judgement, if the CA got one against you on the account.

Remember the FDCPA only applies to CAs so if you request validation and the CA does not provide it, then the CA line has to go or you have an FDCPA violation. Only the OC can remove their TL.

 

So in essence, one's best bet is probably to dispute with OC's that have charged off and DV with CA's that are current, correct?

 

It all depends, but in a nutshell that would apply most of the time.

 

Also, if you dispute to much at one time, will they flag you?

 

Bump bump..