02-20-2013 09:15 AM
Hello everyone. Thanks for all your help and advice re: my previous questions and concerns about this. I got a letter in the mail from Portfolio Recovery stating that the dispute investigation was done, and they will request for all 3 credit bureaus to have this deleted from my records! My question is, Victoria secret is still reporting as a charge off. They sold the account to Portfolio (which they are going to delete). Now what do I do?? Do I also dispute the Victoria Secret charge off? They were reporting as well as Portfolio. Please help me!
02-20-2013 09:19 AM - edited 02-20-2013 09:19 AM
02-20-2013 09:44 AM
Can you PM me with who and where you sent your letters to in order to get Portfolio Recovery information deleted? I settled two accounts with them recently and would like to try to get those items deleted from my report.
ALL HELP IS APPRECIATED! Thanks!
02-20-2013 10:31 AM
I'm pretty dense when comes to understanding my credit report and any rights that I might have. I posted last night a ton of questions one is about portfolio as well. My post lists my report from trans. Portfolio bought the capitol one card from 2007 and is reporting it as a factoring company and open. Like I said I know squat but I didn't think that it was allowed to be reported twice negatively for the same debt?
02-20-2013 10:56 AM
In actuality, the credtior and debt collector are not simply reporting the same debt, they are reporting separate acts taken along the way to secure paymet of the debt as the debt remains delinquent.
A charge-off is an accounting measure taken by a creditor, while a collection is the reporting of authority by one other than the party with whom the debt originated to collect on the debt. Each stands on its own, notwithstanding the fact that they are based on the same debt.
No different than reporting both a 30 and 60 day late on the same debt.
02-20-2013 11:08 AM
Thank you for explaining that. I guess my other question is how are others having them disputed and deleted? From outside appearances it looks as though my credit reporting are the same as others yet they disputed it and had it deleted. Or am I just completely missing the details of why they had it deleted? Thanks
02-20-2013 11:20 AM - edited 02-20-2013 11:25 AM
Deletion can still be obtained, but requires that you request the good-will deletion by the party who reported.
Deletion based on a dispute means that they asserted some inaccuracy in the reporting, and that inaccuracy was resolved by deletion of the reporting.
Perhaps because the reporting was actually agreed to be inaccurate, or perhaps because the reporting party simply did not verify during the dispute.
You can dispute if you have an actually inaccuracy, with some basis and documentation. A dispute is not appropriate based only on payment of the debt.
Dspute of the accuracy of a charge-off would require some showing that the debt was either not delinquent at the time they took their accounting measure, or that their determination that the debt had reached a stage such that it had become "uncollectible" was improper. Extremely difficult to dispute a charge-off on its merits.
The CRAs have a written policy that deletion should not be made based only on payment of a debt. That often makes requests for good-will deletion difficult.