CHARGE OFFS!!

[damnedanddetermined]

Question:: How can one report (EQ) show all CO with a ZERO balance and the other reports showing ALL balances?? Should I question (EX & TU) or just leave it alone to prevent (EQ) from updating?

Also, have a creditor reporting a balance and a CA reporting the same account. Have asked creditor to remove acct reporting the balance, but nothing. Whts my next move?

[2b2rich]

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@damnedanddetermined wrote:

Question:: How can one report (EQ) show all CO with a ZERO balance and the other reports showing ALL balances?? Should I question (EX & TU) or just leave it alone to prevent (EQ) from updating?

Also, have a creditor reporting a balance and a CA reporting the same account. Have asked creditor to remove acct reporting the balance, but nothing. Whts my next move?

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Creditors are within their right to continue reporting your account with a balance (if they still own it) and also for a CA to report it as a collection with a balance.  The amount of the collection that the CA is reporting is not calculated into your total amount of debt owed but the one the OC is reporting does.

Even if the Creditor sells the account, they can still report the tradeline, but with a zero balance and something like 'sold' or 'transferred' in the status/remarks.

[damnedanddetermined]

yep, they are both reporting, and YES the OC is reporting a balance while the CA continues to do the same!!  VIOLATION right?

[2b2rich]

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@damnedanddetermined wrote:

yep, they are both reporting, and YES the OC is reporting a balance while the CA continues to do the same!!  VIOLATION right?

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I'm not seeing a violation.
If the OC still owns this debt and has hired a CA to collect it, then they are both in their right to report it to the CRAs, and both may show the balance.  Keeping in mind that only the balance on the OCs tradeline will be included in your total debt owed.

[damnedanddetermined]

The OC has sold this debt to the CA....but OC is still showing a balance while the CA does the same! Thats my point...I dont believe they (OC) can show a balance if they sold it to CA....anyone else want to chime in?

[RobertEG]

If the OC has sold hte debt, then yes they must promptly, per FCRA 623(a)(2), update the balance on their account to show $0.

Ho

However, it is not a huge issue.  You can either make an informal call and ask them to update, or file a formal dispute.

The furnisher can always simply correct any inaccuracy in response to a dispute.

It will not result in any deletion of reporting by the OC, only correction of their lack of timely update.

I would begin with an informal call, reminding them of their obligation to have updated the balance promptly after sale of the debt, and wait until their next regular reporting cycle before moving to a formal disptue.

[damnedanddetermined]

Thank you RobertEG...thats what I thought too!