On my wifes report she has a collection account listed from a Dr. for $56 and under the credit accounts she has the same debt listed again directly from the Dr.'s office. Can they do this? What leverage does this give me?
Both the original creditor and the collection agency can report it as long as the original creditor updates their entry to say "sold or transferred" and zeros out the balance.
I had a similar thing happen with Cross Country. It was a charge off from years ago, they have now sold it to Gulf States. Gulf States is reporting it as 90 passed due, and it still shows as a charge off from Cross Country. I called Equifax and they said it could be sold/transferred up to 3 times and still be reported. I asked them if that was fair, they said what do you expect when you don't pay your bills.
tmitchell, Where did you learn this: "Both the original creditor and the collection agency can report it as long as the original creditor updates their entry to say "sold or transferred" and zeros out the balance." Do we have a law to quote a something from the feds? It would help me if I had something legal to show Equifax because they are screwing me!
Killer... I'm sorry, I forget where I got it from. I think I got that info from this board at some point. I've also dealt with this type of issue with my student loans.
How do dispute this , I have tried not mine. One creditor bought a old repo account. They sold it to wells fargo , wells fargo turned it over to another ca, it is listed twice on my reports one says sold wells fargo says tranfered to recovery.the new ca is not reporting yet , I sent them the validation letter, I want at least one of these off my report so it dont look like two repos.
