Certegy

[hoping2rebuild]

I have an account listed with Certegy for a bad check from a couple years ago, and their are a couple issues with their listing on my Credit report

First they are listed as an OC but since they bught the debt are they allowed to list as an OC?

Second they are showing lates again I thought only an OC could show lates

I did DV them and what I got in return was a letter telling me they bought the check debt and have sold it.

What would be my next step in taking care of this?

Thanks

[lots_of_baddies]

Hi, I recently had a similar situation with them, they are only reporting on Equifax, they replied my DV with a copy of the check but told me they recently sold the debt to Trident Asset Management, they responded very quickly and were very respectfully, I challenged their letter beacause I don't understand why if they sold the debt they continued to report to a CRA, I just got a letter today sying that they are reporting correct information and that their policies wont aloud them to delete unless it's their mistake or a check fraud was comitted against the check holder, BUT they state that a unique time an as a courtesy they would delete from Equifax so, yes Im doing the happy dance now, I will contact Trident Asset to resolve this matter ASAP, havent got a dunning letter from them yet.

Good luck with Certegy, I dont know why they are reporting as a OC, as I understand they work as a guarantee to the stores where they provide services, so I guess that when a check gets to the store Certegy takes ownership of the check and pays the store regardless if the check has funds or not, if it doesnt has funds they will collect, so maybe that why they are considered OC ??  Jut my .02

[LIGHTNIN]

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@hoping2rebuild wrote:

I have an account listed with Certegy for a bad check from a couple years ago, and their are a couple issues with their listing on my Credit report

First they are listed as an OC but since they bught the debt are they allowed to list as an OC?

Second they are showing lates again I thought only an OC could show lates

I did DV them and what I got in return was a letter telling me they bought the check debt and have sold it.

What would be my next step in taking care of this?

Thanks

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It doesnt matter where on your CR Certegy is listed, as long as it says "collection".

FICO scoring sees it as a collection, even tho its not listed under collections.

As far as the lates listed.....the fact that its a collection weighs heavier then the lates, so the lates are overlooked.

Did Certegy tell you who bought the debt? If so, send a DV letter.       Also check your state laws, some have bad check laws.

[hoping2rebuild]

Lightnin this is what is listed on my EQ report: I dont see collection anywhere on here, I also did't think that CA's could list an account as open

Thanks

CERTEGY

Account Number:	5171XXXX	Current Status:	120+ DAYS PAST DUE
Account Owner:	Individual Account.	High Credit:	$100
Type of Account :	Open	Credit Limit:	$0
Term Duration:		Terms Frequency:
Date Opened:	06/2008	Balance:	$0
Date Reported:	03/2010	Amount Past Due:	$0
Date of Last Payment:		Actual Payment Amount:	$0
Scheduled Payment Amount:	$0	Date of Last Activity:	N/A
Date Major Delinquency First Reported:		Months Reviewed:	20
Creditor Classification:		Activity Description:	N/A
Charge Off Amount:	$0	Deferred Payment Start Date:
Balloon Payment Amount:	$0	Balloon Payment Date:
Date Closed:		Type of Loan:	Returned Check
Date of First Delinquency:	06/2008
Comments:

[hoping2rebuild]

Anyone?

[RobertEG]

Certegy is not, an can never be, listed as an OC in your credit reporting.

They are a third party check approval agency/

Even if a third party, be they Certegy, or any other entity, or any collection agency, or Joe Blow down on the corner, even if they purchase the first-party debt, can ever be an original creditor under any law, state or federal.

To be an original creditor, under any fed or state law, the party must be the one with which you originally executed account agreement with.  If the OC then sells the account/debt to another, that party has right to collect on then debt, but NEVER to assert any rights under the FCRA as an original creditor. You never negotiated anything with them.

It is, in this vast maze of credit reporting confusion, on this issue, it as simple as that!

If you did not PERSONALLY authorize agreement with them, they are NOT an OC, and cannot attain OC status in your CR by any assignment or sale by another.

[hoping2rebuild]

Robert what would I do go go about getting this fixed I disputed with the CRB's but it came back as verified and Certegy sent me a letter stating that they BUY returned checks but they won't change the listing.

They also state in their letter that they have now sold this account to another CA

Thanks

[Anonymous]

How did you find out about Certegy?  This has now become the 4th credit reporting company that many, if not most, of the big companies are using so that they can turn you down for credit no matter how good or bad your score is.  The bring up items from 20 years ago and put them in a credit profile that lenders now rely on.  However, most people still think there are only three reporting companies.  Are they in California?  Do they go by a different corporate name? 

I wish I could help you with your problem.  I'm having the same difficulty, but I'd like to get the word out to the unwise why they can't purchase a home with an 800 credit score.  It's probably because this new credit reporting company has put down one missed payment from one of your student credit cards from years ago. 

They are wicked.  More of  Corporate America taking away the Middle Class of our society.  With places like Certegy growing right and left, and nobody doing anything about it, we might as well build that wall of Rich vs. Poor, thanks to the Mod Cut liars who develop and lobby for these new credit reporting companies.   It's hard enough to get items off the three reports as it is ... now there's a fourth one out there to contend with and there aren't many people who know about it.

Any info you can give me would be much appreciated ...

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Hi blackwidow and welcome to the forums.

Unfortunately I had to edit your post. Please review the forum's Terms of Service that prohibit the discussion of race, nationality, sex, religion, and politics.

MarineVietVet, myFICO moderator

[Anonymous]

So, what can we do now that they are acting as a credit reporting company, possibly answering to the questions about whether there are 3 or 4 credit reporting services out there?  I have had personal experience where they have dug up information from over 30 years ago, one missed payment, and some problems during the Mod Cut Recession when he decided to blow out the B-12 bomber project in the Lancaster/Palmdale are  of Southern California.  No jobs, competing for Taco Bell jobs with, literally, rocket scientists, you name it.  Foreclosures abloom. 

What can we do?

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Edited to remove a political statement.

MarineVietVet, myFICO moderator