I have an unpaid chargeoff with MBNA for $500. They have since sold this account to a CA. When I first ordered my credit reports, all three agencies were reporting this account twice - once under MBNA, and again under the CA name. Same account number, same charged-off balance. After my first round of disputes, TU and Equifax deleted the MBNA tradeline right away, leaving only the CA account on my reports. However, Experian refuses to delete the MBNA account and has told me that since both parties are reporting the account, it has to stay on to "better reflect my complete credit history." However, they are reporting still reporting a balance on the MBNA account - shouldn't this be changed to a zero balance and the status be changed to "transferred/sold"? It doesn't seem right that the balance is being reported twice on my report when it's the same account. Is this right?
originally posted by skyy It doesn't seem right that the balance is being reported twice on my report when it's the same account. Is this right? Yeah, that is eating away at your ratios. That's not fair. And technically, you DO NOT owe both companies. The debt was bought by the CA from the original cr, that made the original cr then have a zero balance. Use that in your argument.
I'd suggest disputing the MBNA tradeline as "incorrect balance"( which it truly is ). If you just dispute it again as "duplicate" you'll probably get the same answer back that you did already.
I've reported it as a duplicate, as not mine, wrong balance - everything under the sun. (it's been through about 4 rounds of disputes). Experian claims that MBNA is verifying it everytime - yet with Transunion and Equifax it came off the first time with no problem. I even sent Experian the letters from TU and EQ stating it had been deleted. I'm so frustrated with this - it seems that it should be deleted (or at least corrected to a zero balance) very easily.
The FCRA should be amended to force the CRA's to provide the persons name (when the consumer is asking for a procedure request) who allegedly verified the information from the creditor/CA. If this ever happened, we'd see a huge decrease in "oh we verified that...." We all know the CRA's don't ALWAYS verify as they claim to, and this would hopefully put a stop to their lies.
We need a class action! It doesn't make sense that we have to continually go through this! I had a duplicate on all three. TU updated original as zero balance and equifax deleted the collection account. But good ole Experian did nothing! Then the creidtor sold to a different CA. TU isn't reporting latest CA. Equifax added new CA and I now disputing. Experian did have enough sense to replace old CA with new (I am really surprised). However both accounts have balances that keeps getting higher and higher due to so-called interest. I am tired of this! We need a class action that forces the CRA's to ensure that balance is zero when accounts get sold all around the world. The law states that CRA's must ensure that the information they are reporting is accurate. They have not. They just slap in whatever the creditors tell them too. They do not first ensure that information is correct! How do we get a class action going?
Contact the CA and send them validation. Get them to mail u a letter requesting deletion after you kill em..
I've already sent validation letters, which were not responded to and which I promptly sent to Experian asking them to delete the MBNA tradeline. They sent me a letter back saying that they were able to verify it fine, and the tradeline was staying on there. I think I'm going to call them up tomorrow and have them fax me the dates they contacted MBNA, along with names and phone numbers. I bet they won't be able to do it. I hardly think they've called them up 5 times in the past 6 months.
I'm with you guys...I have the same problem with experian reporting a balance on my CR, that was "verified", and the CA is reporting a balance as well......what I'm doing is sending CRA procedure req, and I'm hammering the original creditor for reporting innacurate info, and verifying w/ CA that it's correct!
After sending a procedure request, is there a certain time limit that the CRAs have to get back to you? In the previous letter I sent, I requested that if they did not delete the tradeline then I would like a copy of the dates, names, etc. of who they have previously contacted to verify. Of course, I have yet to see that.
