I opened an account with Beneficial and stopped making payment the latter part of 2007. It was charged off the next year on my credit report. Then Beneficial changed the status to purchased by antoher lender. Then Midland Credit Management appeared on my credit report. It is the same account by they state I opened the account in 11/10 and it is in collection as of 12/10. Can they do this? It is the same account but now I have them both on there and this later date one will stay 6 more years where the other would have been going off my report in about 3 years. Any help would be appreciated.
The charge off is reported by the OC, and the collection is reported by the CA that purchased the debt from the OC. Both can be reported at the same time, but the DOFD should remain the same for the debt. That's the date you need to pay attention to in regards to when they will fall off your credit reports. Often, it's not a date you'll actually find on your credit reports though. You may need to back into it.
