I am extremely new to the Credit Talk and to the cleanup effort - so I thank you in advance for any information that is shared! I got my credit report from Equifax and there are a couple of issues that I have and would like some input - There are three entries that are from the same orginal GM card - that I neglected a while back. Each of the creditors names are different - one of the three has a different account number than the other two they all have the same balance. One of them has 20 as the past due and the other two have same of 987. Two of them have the status of 05 and the other R9. And what I think is the orginal account is marked Charged off Account. Creditors: Acct. Balance status PastD Gulf State Credit 12xxx 987 05 987 Household Credit 549xx 987 R9 20 (orginal debt above) OSI Funding Corp 12xxx 987 05 987 And they all have different payment history. Are these suppose to be listed like this - Where do I go from here? Thanks again!
When one CA buys an account from the original creditor or even from another CA, the account is supposed to be marked 'Transferred' or 'Account Sold' and the balance is supposed to be changed to zero. I have also read that Gulf State and OSI are the same company. In that case this would be duplication. Especially since they share the same account number.
what the deal if orginal creditor does not say Account transferred or sold and they all have the 987.00 basicallly there should only be one - right?
Only one of them should be showing a balance. Technically and legally, you can only owe the amount once and to one creditor. Also, as far as your debt ratio goes, this may help kill it. It looks like you owe 2961 instead of 987. And the account should at least say 'paid' from where the CA paid them to take the account off their hands.
