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Hello all,
Looking on some advice if i should dispute? i had a collection with one company and it is showing closed with a bal on my transunion credit report....but another collection brought it and is reporrting on it too. Should i dispute with the one showing closed with bal? Two collections can't be reporting on the same debt right?
Thanks
The CRA has a written policy, set forth in their credit reporting manual, instructing debt collectors to delete their collection if their collection authority has been terminated without payment of the debt. They have that policy to prevent the inclusion in your credit report of plural collections simultaneously included for the same debt.
At the very least, debt collector 1 should have reported the balance remaining under their collection as $0 if collection has passed to another debt collector.
However, per CRA policy, they should have deleted.
Send a dispute to the CRA for their lack of comliance with their reporting obligation.
@RobertEG wrote:The CRA has a written policy, set forth in their credit reporting manual, instructing debt collectors to delete their collection if their collection authority has been terminated without payment of the debt. They have that policy to prevent the inclusion in your credit report of plural collections simultaneously included for the same debt.
At the very least, debt collector 1 should have reported the balance remaining under their collection as $0 if collection has passed to another debt collector.
However, per CRA policy, they should have deleted.
Send a dispute to the CRA for their lack of comliance with their reporting obligation.
Thanks sooo much!! I knew it was wrong!!!!!