Double reporting...

[Bad_Omen]

My Problem...

The OC is Fingerhut. I opened an account 1/07. I stopped payment and the account was closed. 1 year later, I contacted them and paid off the account in full. The OC is now reporting 3 separate TL's to each CRA.  Each entry has the SAME account number, same date account opened, same date account closed.  They are listed as;

CITBANK/FINGERHUTDIRECT..

Fingerhut/METBANK...

Fingerhut/WEBBANK...

I have disputed twice and both times they were "Validated". I have DV'd them as well with a full history sent to me.

My question..

Is it lawful to have the same account listed by the same OC multiple times?  I've reviewed the FCRA/FACTA and can't find a specific entry regarding this..

Thanks!

[guiness56]

It isn't the same OC that owns the account.  Fingerhut had different owners and that is what is reporting.  It is legal.

[RobertEG]

No, it is not proper.

The FCRA does not specifically state as such.  It is just plain logic that duplicate reporting provides duplicate impact.

FICO, for example, most likely will not investigate whether account numbers are duplicates before scoing the impact of the reportings.

Others reviewing your credit report similarly would be confused as to possible plural accounts and/or derogs.

If you have disputed and they have verified, you can write and ask for reconsideration, but the dispute is formally concluded.

Proof of their verification is not a requirment for verfication of accuracy.

I would suggest filing a formal complaint with the CFPB of their duplicate reporting of the same account, including their statement of verification of accuracy of such reporting in rsponse to your dispute.  They have authhority to compel correction as their interpretation of its inaccurcy.

[guiness56]

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@RobertEG wrote:

No, it is not proper.

The FCRA does not specifically state as such.  It is just plain logic that duplicate reporting provides duplicate impact.

FICO, for example, most likely will not investigate whether account numbers are duplicates before scoing the impact of the reportings.

Others reviewing your credit report similarly would be confused as to possible plural accounts and/or derogs.

If you have disputed and they have verified, you can write and ask for reconsideration, but the dispute is formally concluded.

Proof of their verification is not a requirment for verfication of accuracy.

I would suggest filing a formal complaint with the CFPB of their duplicate reporting of the same account, including their statement of verification of accuracy of such reporting in rsponse to your dispute.  They have authhority to compel correction as their interpretation of its inaccurcy.

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How do you come to the conclusion it is not proper?

Any new owner of a company/account has the right to report it.  Even if it is a change in company name.

If that is the case then Cap 1 and HSBC could nbt both report their TLs or any other company that sold or bought out another.