CAs Reporting to CRAs

Discussion in 'Credit Talk' started by Trilivonel, Sep 17, 2003.

  1. Trilivonel

    Trilivonel Well-Known Member

    I have always been confused regarding this type of reporting. When a CA is "assigned" a debt, when can they report to the CRA as the debt being delinquent? From the date they acquired it or from the date the OC reported it delinquent? Also, why can a debt be listed twice on a CR, once from the OC and once from the CA? I thought that a debt can't be listed twice on the same CR. I'm going to try to do a search on this topic but thought I might get faster results this way! Thanks for anyone's input!
     
  2. Flyingifr

    Flyingifr Well-Known Member

    FCRA strictly defines the "Status date" as being the date the debt originally went delinquent. If the CA changes that to the date they got it, they have re-aged the account which is actionable under FCRA.
     
  3. lbrown59

    lbrown59 Well-Known Member

     
  4. jlynn

    jlynn Well-Known Member

    If its listed twice, the OC should be showing it as "sold or transferred" -0- balance.
     
  5. lbrown59

    lbrown59 Well-Known Member

    Re: Re: CAs Reporting to CRAs

    If its listed twice, the OC should be showing it as "sold or transferred" -0- balance.
    jlynn
    ================
    So how can a CA collect on a 0 balance?
     
  6. jlynn

    jlynn Well-Known Member

    Re: Re: Re: CAs Reporting to CRAs

    Are you really asking, or are you being difficult this morning?
     
  7. Trilivonel

    Trilivonel Well-Known Member

    Re: Re: Re: CAs Reporting to CRAs

    Jlynn,

    What if the OC states that is was transferred but still shows the balance? Or if the OC doesn't stated that the account has been transferred or sold but a CA is listing the debt also? What is the course of action?
     
  8. jlynn

    jlynn Well-Known Member

    dispute with the CRA first - then when they don't fix it you will have to ITS them.
     

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