This could get confusing - please bear with me. I had an loan with a finance company (#1) about six years ago - this company went out of business and sold my account to another company (#2), who was then purchased by yet another finance company (#3) who then sold my account to a collection agency (#4). So, this account has been sold or transferred four times. Company #2 has been reporting this on my credit report since they bought it - and they are still reporting it as an open account, past due, but last reported in 2000. The balance is $644. They did not verify on EXP or EFX (it was deleted), but they did verify it on TU (got the results today). My question - since they are not the original creditor, what would be the best strategy for getting this removed? Thanks for any help you can offer.
Question for you-was this account late at the time it was transferred during any of this? I had this problem a while back-and all of them were reporting the same information. Did you dispute through the CRA? I would ask the CRA to provide you with name and contact info for whom they "verified" this information. They are required to do this.
Actually, yes - it was late. It was a joint account between me and my ex-husband, he had been paying on it and then filed BK and I am now responsible for it. Thanks - I will call TU and ask them. They didn't include that info on their correspondence to me - just "verified, no change". Thanks again.
I would get them to supply the creditor info-and dispute w/the creditor. Ask for proof that the information being reported is correct. That would include when your payments were applied, proof of ownership, etc. Sometimes, doing this at the same time that you redispute it with the CRA works. It did for me.
Thanks - I'll try that. Since the account was sold to this company, they are not considered the "original" creditor, right?
