For the record I HATE CA'S!!!!!! And Im sure you all do too! So here's my new issue, I just got an alert stating that I have a new collection account on my reports. Honestly I have no idea where this debt is from. I havent dont anything reckless to gain more debt than I already have. So anyway, I looked at my Experian and Equifax reports and sure enough the new CA is on both. I found a problem and I wanted to know if its something. The address for this CA is different on both reports. Could that be disputed? I seriously have no idea who they are and what debt they are trying to collect from me. Geesh...if it isn't one thing, its another!!!
Perhaps this is an old debt that's been sold to a new CA? That's usually the case when you see a new collection pop up on your credit reports for an old debt. What account is listed as the new collection? There's got to be some more information on your reports other than just the name of the CA and address. By the way, I don't see how you can really dispute the address of the CA. There's nothing really wrong with them having multiple addresses. Most businesses do.
If this is an old debt, make sure that the date of first delinquency (DOFD) is correct. It should be 30 days from the date of the first missed payment on the account, and should not be updated simply because the account has been sold or reassigned to a diferent CA. If the DOFD is at least 7 years ago, then the credit reporting period is over, you you should dispute the debt (with the credit bureaus) on the grounds that it's too old to report. Other than that, you're just going to have to live with it. However, as time passes from the date of last payment/activity on the account, it affects your credit scores less and less. For example, I quit paying on all my unsecured debts back in March of 2009 due to impending job loss. All of my credit cards, my cellphone account, and a couple other debts I was paying on charged off around November of 2009. My credit scores bottomed out in the low 400's range, but are now in the 520 to 530 range even though I have never paid a penny toward the debts since then. Even the periodic re-assignment and resale of the debts has only a minor effect, such as decreasing or increasing the score by 1 to 3 points.
