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Posts: 9
Registered: ‎11-28-2012
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Can a CA and an OC report at the same time?

I have an OC (account marked as closed) and a CA reporting two different items with the same account number on my experian report. 

 

Is this reaging? If it is what can I do about it. I already sent the CA debt validation letter but i don't want to be stuck with another negative item on my report. 

Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
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Re: Can a CA and an OC report at the same time?

Both the OC and the CA can report. The OC should be reporting with a balance of $0 and the CA should be reporting the debt balance.

 

It's not re-aging. Re-aging is where the DOFD is altered which causes the TL to report longer than it should.

Established Contributor
Posts: 756
Registered: ‎01-20-2012
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Re: Can a CA and an OC report at the same time?

It's my understanding that yes, the OC and CA can both report.

 

If the CA validates, consider settling/paying in exchange for a deletion.  That way at least you'd "only" have the OC debt on your reports.

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New Member
Posts: 9
Registered: ‎11-28-2012
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Re: Can a CA and an OC report at the same time?

Eep. Sorry for posting in the wrong area. 

 

Thank you for the info. 

 

I know that the closed accounts will be there for seven years after they were reported closed. But what about the collections/debt buyers? Because I don't see any info past when they started collecting. Is it seven years after "paid collection"  if they refuse to accept a pfd?

Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
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Re: Can a CA and an OC report at the same time?


rc1114 wrote:

 

I know that the closed accounts will be there for seven years after they were reported closed. But what about the collections/debt buyers? Because I don't see any info past when they started collecting. Is it seven years after "paid collection"  if they refuse to accept a pfd?


Positive, closed accounts generally report for 10 years from the date of closure. Negative accounts like COs and CAs will report 7-7.5 years from the DOFD of the debt, which could be before or after that date of closire.

 

If a CA buys a debt, they must adhere to the same DOFD. You can only default once and a CA cannot change that date. So, if a CA bought a debt 6 years after the DOFD, they can only report up to 1-1.5 yrs. The DOFD has to be the same between OC and CA.

 

Payment or non-payment doesn't influence how long a baddie reports.

Epic Contributor
Posts: 21,667
Registered: ‎03-19-2007
0

Re: Can a CA and an OC report at the same time?

Reporting by creditors relates to activity on their account, such as delinquencies and charge-offs.

If a debt collector gains authority to collect on a debt incurred with a creditor, their reporting to the CRA is of their collection activity on that debt.

If an assigned agent of the creditor, their reporting of a balance does not reflect any debt owed to them, but rather the amount they are authorized to pursue collection.

If they become the owner of the debt, their reporting reflects both the amount they are authorized to collect and debt owed to them.

 

It's standard, and not actually double-reporting of the same information.  They reflect separate acts taken along the path of the debt.

 

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