This question is for serious and helpful answers only.?

Question

I am in the process of checking and repairing my credit.
My question is: If you have had a past account purchased by another debt collector, should not the one whom sold the account be deleted from your credit report? If they stay on your report you have two or three sets of the negative information on your credit report. If you know the answer, please respond with a way to correct it. Thank you

Answer 1

Unfortunately the creditors have the right to report for up to seven years. Your best bet is to contact the current creditor (only if you have the money to do so) and offer to make a settlement, but only if they guarantee that the negative information is removed from your credit report (AND GET IT IN WRITING!). Pay them off and then you can dispute the previous creditors. Most often the former creditors will just remove the information (because researching the account is time consuming and costly to them). The original creditor may however update the credit report as a "paid" status or "settled". This will at least show future lenders that you are being responsible. Best of luck to you!

Answer 2

Chances are, they don't and won't take the time to notify the 3 major credit reporting agencies. Once they have turned you over to a collection agency, they feel they are out of obligation.
I realize, and anyone in the industry of reading your report, should identify these are duplicates.
The only way "you" are going to be able to resolve this is to contact the 3 Major Credit Agenices yourself with a letter and any form of written documents you have. Provide them with any phone numbers you have and write your letter and make it as simple as possible for them to read and correct your credit, then FOLLOW UP..

I'm sorry I don't have the updated phone numbers of the 3 Credit Reporting Agencies here at my disposal but you can look them up. These companies are the ones who receive information from creditors, collect the data, and report it to all the Credit Bureas out there.
Equifax
TransUnion
Experion
Oh, and if you apply for a Mortgag loan and they tell you, they'll have the duplicates fixed or corrected, they are ONLY GET THEIR CREDIT REPORT FIXED for your current loan approval. The information corrected will not "permanetly correct your credit report". And the Mortgage company should be sending you a letter of derogortory credit which should provide you with all the apporiate phone numbers you need, including the Creditors. Because they will want a "Credit Explanation from you, if you show a lot of past credit in the last 24 months or so.
If not, ask them for it.
Always, always, always...write down everyone's name of whom you speak with along with their phone numbers, date you spoke with them and what was said.
So, get a notebook just for this, so if and when you need to contact someone, you aren't scrambling around. Stay organized and follow up.
Creditors are quick to report us late, but do not care to help repair......
Good luck, I hope I helped.

Answer 3

Well, I had 3 negative items on my report. I paid off one a year ago, and it still says neg. So to me I sort of wasted my time trying to correct it. If it's going to stay neg for 7 years, let it stay neg and use your money for something else. Unless you are unlike me and actually HAVE money now lol, then talk to the ORIGINAL collector - not the collecting agency. It works out for you in the long run because you can then get them and you can yourself call the collection agency and inform them that the debt is paid. Done!

Answer 4

The original creditor sold the account for less than what you owed so that is what it will show on the report. nothing you can do about it. Now, if you dont pay the new owner of the debt they will show the same thing. You cant take it off and if you dont pay it you could be sued for the money.

Answer 5

It stays negative on both accounts. The collection that bought your past due account did not pay it off. They just get a percentage as you do pay. The only way to correct it is to pay it off as quickly as possible

Answer 6

Until the account is made current , (paid off)
ALL information will stay on for 7 years from the last date of activity / payment .

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