cancel
Showing results for 
Search instead for 
Did you mean: 

CC and CA Reporting

tag
MsKmm00
Regular Contributor

CC and CA Reporting

Hoping you seasoned FICO members can help me gain some understanding. Credit Card company writes off your debt and sells to collection agency.  After some years, it ends up in a third party agency's hands. The orginal debtor is reporting the bad debt. My confusion is with the collection agency ... they are allowed to report also? So, in essence, you have two companies reporting the same debt with DIFFERENT dates? Just need some clarification and explanation why that is allowed to happen.  Thanks in advance
Message 1 of 12
11 REPLIES 11
llecs
Moderator Emeritus

Re: CC and CA Reporting

I don't believe they can do that. You could dispute as a duplicate account with the CRAs. I did that with a US Bank acct showing both a CO and a CA for them. I disputed it as a duplicate account and both accounts were deleted!
Message 2 of 12
Anonymous
Not applicable

Re: CC and CA Reporting

Metro2 (which is the system they use to move all the data around) suggests that if a debt is sold it is to be deleted (it is no longer an account they can pursue collection on).  Make sure to keep a copy of the report with the OC info on it - proof of DOFD/DOLA/SOL.  I think OCs are instructed to remove also - read thru this
 
Yes, I would use their own industry guideleines in asking them to remove.


Message Edited by Lady_Scarlet on 01-31-2008 05:14 PM
Message 3 of 12
llecs
Moderator Emeritus

Re: CC and CA Reporting



Lady_Scarlet wrote:
Metro2 (which is the system they use to move all the data around) suggests that if a debt is sold it is to be deleted (it is no longer an account they can pursue collection on).  Make sure to keep a copy of the report with the OC info on it - proof of DOFD/DOLA/SOL.  I think OCs are instructed to remove also - read thru this
 
Yes, I would use their own industry guideleines in asking them to remove.


Message Edited by Lady_Scarlet on 01-31-2008 05:14 PM

Interesting read.
Message 4 of 12
MsKmm00
Regular Contributor

Re: CC and CA Reporting

Great info Lady Scarlet ... thanks
Message 5 of 12
bott6698
Established Contributor

Re: CC and CA Reporting

very very interesting. i have the same thing with a credit card company. one shows as chargeoff and one shows as a collection agency for same account.
10/11/2017 EQ 640 TU 639 EX 652 12/10/2016 EQ 621 TU 607 EX 626 10/10/16 EQ566 TU591 EX 587
01/31/2008 EX 502 EQ 466 TU 481
3/14/2008 EX 578 EQ 539 TU 543
4/16/2008 EX 622 EQ 532 TU 578
5/19/2008 EX 604 EQ 591 TU 592
1/1/2009 EQ 625 EX 576 TU 569
02/13/2009 EQ 648 EX 617 TU 590
09/28/2009 EQ 568 TU 591
Thanks to all Fico supporters for your encouragement and advice
Message 6 of 12
ozgirl
Regular Contributor

Re: CC and CA Reporting

I also have the same thing. However, the CA shows the "date opened" as the date they purchased the debt and not the DOLA or delinquency date.
Message 7 of 12
gdtobefree
Established Contributor

Re: CC and CA Reporting

I had this happen before, I disputed the CA and poof they were gone and I got a new CR showing they were deleted, 2-3 months later I pulled another CR and bam there they were again, I called the CRA and told them that it was delted before and now it is back same ca same amount, I sent them a copy showing where it had been deleted and the CRA removed it again.
Message 8 of 12
ozgirl
Regular Contributor

Re: CC and CA Reporting

In my case, the CA has its own entry-almost looks like a tradeline but the account type says collection. The OC is still listed but says it was a CO. So in essence I get dinged twice for this with Experian. I know have been paying off the debt to the CA and the balance on the account decreases each month.

Do you think I can at least get the OC removed? Also, shouldn't the Date Opened be the original DOLA or default and not the date the CA purchased the debt?
Message 9 of 12
gdtobefree
Established Contributor

Re: CC and CA Reporting

Please say yes to this question (please please please) Did you agree to pay the CA if they delete it from your CR when you are done?
If so did you get it it WRITTING? (please say you did)
 
This is a sticky situation you have gotten yourself into, You should haves aren't going to do any good now.
I would DV the OC and see what happens. It never hurts to try.
From there I would GW the OC since you are making timely payments to the CA.
 
Maybe during the day tomorrow someone with better advice will find your post and offer a better solution but this is all I can think of right now.
Message 10 of 12
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.