Gemb/Sams Reporting Bal Twice?

[HindSight_20_20]

Hey Fico Family

I have a credit report (TU) showing :

Gemb/Sams Bal $834  Status (charged off as bad debt)

Lvnv Funding Llc $834 Status (Collection Account)

it's the same account why are they both reporting

But on EQ is shows

Gemb/Sams Bal $0 (status Bad Debt Collection)

Lvnv Funding Llc $834 (status 120+)

My question is 'should I address this issue with TU'? Or just let it be (I have a total of 5 collections by May 2013 they will all be gone!  (three by Dec 2011)

Thanks

[LIGHTNIN]

The Gemb/Sams is an OC,and the Lvnv Funding is a CA.Yes they both can report,an OC and only one CA.

When an OC reports a $0 balance that usally means the debt was sold to an CA.

What happens when an OC is a CO, the OC then can further hurt your CS by assigning or selling the debt to an CA.

And when the CA starts reporting on your CR,thats whats hurting your CS more.

[HindSight_20_20]

Thanks Lightnin,

I guess I'll have to deal with the CA to get this removed and 'not' Sams right? 

[mauve]

Call Sam's and find out who owns the debt.  If it's Sam's, PFD them, but make sure they include the CA. 

[HindSight_20_20]

okay I'll do that, and post back once I have the info.

Thanks!

[HindSight_20_20]

Called Sams or (GEMB) they said my accounts in another department... so they transferred me to collections, and they said they sold it to LVNV back in March of 09.

Scheduled to drop off in 12/2012, but i would love to have it removed before then, but it's reporting that same balance on Sams Club so if the CA deletes the account as a result of a 'PFD agreement' how would I go about getting Sams off for the same account? any thoughts?

Thanks

[RobertEG]

Both can legitimately report on the basis of the same original debt.  A CO is reported by the OC.  If they then refer it out for collection, or sell it to a CA, the CA can report their additional derog on the same debt, showing the escalated activities being taken to collect the debt.

It might be the "same debt," but it is no the "same account." 

The OC reports delinquencies/COs on the OC account that you have wth them.  A CA reports to a totally separate portion of your CR. that is not an "account" with you, but rather is strictly a reporting "account" between the CA and the CRA.

The only problem I see with their reporting is that once the CA reported the debt of $834, the the OC should have updated their debt balance to $0.  You cant owe the identical debt to two different parties.  Only one.  But you can have reporting of delinquencies/derogs on failure to pay that debt reported as both a CO and CA in your credit scoring.

[HindSight_20_20]

I see, that may be why the CA reports $834 and GEMB (Sams) reports $835? Pretty slick.

I don't know If I want to mess with them just yet since I don't have $835 AND i'm not sure what the SOL is for them in FL.

But I will look it up, thanks Robert.