I have the same debt showing twice on my CR. one is from the original creditor that shows as a chargeoff and is scheduled to fall off in 07. the other is the same debt but picked up by asset acceptance (showing the original creditor correctly) but also shows an open date of 2003...any advice on how to handle this?
The second account should have the same date of first delinquency, and therefore the same fall off date, as the original debt. If not, then it was "re-aged".
Not legally. NCO re-aged a bunch of reported debts and got slapped by FTC with $1.5M in penalties. http://www.ftc.gov/opa/2004/05/ncogroup.htm Is it past SOL? What is the fall-off date reported on the listing by Asset? Also, if the OC sold it to Asset, then the listing by the OC should show that $xxx was charged off, that it was sold to another creditor, and $0 balance (since there is no longer anything owed to the OC).
it is past the SOL. the online report for transunion doesn't have a fall off date listed for that account or any for that matter. it does show it was sold to another lender and charged off with 0 balance due. I just didn't think it should be showing twice with two different dates.
Call the CRA and ask them what the fall-off date is. It can show with both the original OC information, showing charged-off but $0 balance due, and whoever the new owner is showing the current balance. The original dates of delinquency, and fall-off dates, should be in agreement. The second listing might show the date Asset opened the collection account. It must still be removed based on the original date of delinquency.
