Dear fellow board members: I have a problem with a derogatory account being reported twice. The account is being reported by the same creditor, but under the names: "LEASE FINANCE GROUP LLC" & "CIT/LEASE FINANCE GROUP." The account number, creditor address, creditor phone number, and all other items reported are exactly the same. When I disputed this account with Equifax, they claim the creditor verified both items (Transunion & Experian deleted the duplicate account). Here are my questions: -Is anyone else having this same problem with this creditor? If so, how widespread is this problem? -If Equifax continues to refuse to delete one of the accounts, do I sue Equifax, LEASE FINANCE GROUP LLC and CIT/LEASE FINANCE GROUP, or some combination thereof? Thanks.
What contact information does Equifax provide for the two? Is it the same address? Are these the original creditor? Is this consumer debt or business debt? What is derogatory about the accounts? Unpaid charge-off? Paid charge-off? Late payment under payment history, but currently up to date? Or duplicate positive accounts both showing the same balance due? In other words, if you did sue the OC, what counterclaim would they have on the debt?
CIT/LEASE FINANCE GROUP 233 N MICHIGAN AV #1800 CHICAGO, IL 60601 (312) 980-5600 LEASE FINANCE GROUP LLC 233 N MICHIGAN AVENUE SUITE 1800 CHICAGO, IL 60601 (888) 321-2307 LFG is the original creditor, which merged with CIT. The debt was a business debt that was discharged in a ch. 7 bankruptcy. As far as I know, neither the creditor nor the credit reporting agency would have any counterclaim against me, but what is an "OC"?
Riddles now for posters feedback? Not cool. The answer to your question is that OC = Original Creditor. The problem that lies before you might be two fold. If you go through Equifax to get the duplicate account deleted, they will probably ask for a copy of your Bankruptcy papers. Most on this board will tell you that is never a good idea and I agree having been in the same boat with Chapter 7. If you haven't already submitted your Bankruptcy papers, don't. I would simply suggest calling the creditor and ask for the department that handles credit bureau disputes. If the current holder is CIT, I would try that number first and let them know that the account is being reported twice. Tell them exactly how it is reporting, once under Lease Finance Group and once under CIT/ Lease Finance Group. Once they agree to make the necessary adjustments, have them send you verification in writing, so that if it doesn't get taken care of you can then submit their correspondence to Equifax for removal of the duplicate account without submitting and BK papers. Best of luck and let us know how this turns out.
