Is it legal for the same debt to appear multiple times on your credit report?
1. original creditor
2. company that bought the account
3. another company that bought the account
All are one debt. I'm in NY state
2007-02-07 09:40:30 · 5 answers · asked by michelle m 2 in Business & Finance ➔ Credit
As long as they do not all show as open, yes it is.
You defaulted on your loan with the original creditor and they sold it to another company. This SHOULD show as closed/sold/charge off or the like.
The second company can report it as long as they are pursuing the debt. If they sold it, it sounds like you were not paying them either. Most likely they wouldn't sell a paying debt unless they HAD to.
The third company bought the debt and it sounds like they are currently pursuing you for the debt.
The only item that should be open is the third account. If any of the others show open, you need to write a dispute letter and have them corrected. Otherwise, the first two accounts will drop off your report seven years after the close date showing on the report. If you need to write a dispute letter to change the open/closed status, make sure they put in the correct ORIGINAL closed date...not show the closed date when you wrote the letter. The third account will drop off seven years after you've paid in full or they sell your account.
2007-02-07 09:56:53 · answer #1 · answered by dougzinboston 4 · 2⤊ 0⤋
I'm in KS but I don't believe it would be legal for that debt to show up 3 different times on your credit report. Can you prove it is all the original debt? Sounds like you need to obtain a copy of your credit report and make sure that it is up to date.
If you have been denied credit in the past month, you probably received a denial letter telling you which credit reporting agency was used, the letter should explain how to obtain your free credit report.
2007-02-07 09:58:27 · answer #2 · answered by Grannydebbie 3 · 0⤊ 1⤋
Something is amiss here. Get in touch with the Credit Reporting Agencies, (all of them) and straighten this out. Under NY State law, they have to review your compliant and act accordingly.
2007-02-07 09:45:29 · answer #3 · answered by Notorious 4 · 0⤊ 1⤋
The date of very last interest is the in hardship-free words one which concerns. it really is frequently the charge-off date for the unique creditor. Any next sales of the debt does not change the date of very last interest, nor does it change the date that the debt references (unique and collections) should be bumped off. All unfavorable references should be bumped off seven years following the date of very last interest.
2016-12-03 21:00:54 · answer #4 · answered by picart 4 · 0⤊ 0⤋
Here's an article that will help you. It's titled "What to do if there are inaccuracies on your credit report". The link is below
2007-02-07 10:04:24 · answer #5 · answered by Alex K 2 · 0⤊ 1⤋