How many times can CA show a collection on your credit report?

[LB2484]

I have an old finger hut account that was defaulted in 2008 showing up on my TU credit report.
Once as Citi/fingerhut for $192
Again as Meta/Fingerhut $192 and then it was sold off to Portfolio recovery
My question is how many times can they show this account? Right now it's showing up as 3 negative or "paid collections" as I paid it off like 2 mos after it appeared on my report.
Please help with any advice

[DaBears]

If one of the CA's sold it to another CA then they were required to delete their tradeline. Only one CA can actively collect. The OC can report the account if they wish as Paid "was a charge-off"

[LB2484]

That's good to know. I just finished with a dispute and they didn't make that change so what should my next step be to get them to correct this?
Any advice is appreciated!

[RobertEG]

Actually, there is no requirement that debt collector 1 delete their reported collection if they sell the debt to debt collector 2.

They must report their collection as closed, and the amount under their collection to be $0.

Many will chose to delete simply as a housecleaning measure or to elininate any possiblility of receiving a consumer dispute over accuracy of their reporting.

You can have only one active collection.

[DaBears]

This is from the Credit reporting resource gude, Clearly states that 

Debt Buyers and Collection Agencies

Continue reporting Account Status Code 93 (Collection) and add Special Comment
AW (Affected by natural or declared disaster).

If accounts are sold to another company or given back to the original creditor,
report Account Status Code DA to delete the accounts

[money_talks]

I found a copy online of the 2011 Credit Reporting Resource Guide.

The comment DaBears posted is in the FAQ section and is listed as a sub-section of this question:

56. Question: How should an account be reported when the consumer is affected by a natural or declared disaster?

If nowhere else in the reporting guide does it say that a CA must delete a TL after selling it or returning it to the OC, the CA could argue that the guide requires a CA to delete the TL only if the consumer is affected by a natural or declared disaster.

Also, let's assume the Credit Reporting Resource Guide intent was for CAs to delete TLs they no longer own (natural disaster or not). On what grounds would you sue the CA? They are clearly not in violation of the FCRA. If you sued the CA for violation of the credit reporting guide, what would be the likely outcome of the case?

[choppa02]

Fingerhut has done the same to me three dings for one account metabank Fingerhut, citibank fingerhut and the ca they sold it too Jefferson cap those bastards!

[RobertEG]

Statments of CRA policy as to credit reporting guidelines do not have the force of law.

They are business practices.

Better path would be to file a dispute with the CRA based on lack of compliance with their reporting gudelines, and hope that they chose to enforce on that basis.

As an aside, I am very surprised that you found a copy of the Credit Reporing Resources Guide online.

It is a copyrighted publication, held by their contractor, the Consumer Data Industry Association (CDIA), and is not in the public domain or made available to the general public.  It is sold to members of the CDIA, and made availble by the CRAs to their furnishers.

Posting to a public web site would most likely be a copyight infringement.

[DaBears]

---

@money_talks wrote:

I found a copy online of the 2011 Credit Reporting Resource Guide.

The comment DaBears posted is in the FAQ section and is listed as a sub-section of this question:

56. Question: How should an account be reported when the consumer is affected by a natural or declared disaster?

If nowhere else in the reporting guide does it say that a CA must delete a TL after selling it or returning it to the OC, the CA could argue that the guide requires a CA to delete the TL only if the consumer is affected by a natural or declared disaster.

Also, let's assume the Credit Reporting Resource Guide intent was for CAs to delete TLs they no longer own (natural disaster or not). On what grounds would you sue the CA? They are clearly not in violation of the FCRA. If you sued the CA for violation of the credit reporting guide, what would be the likely outcome of the case?

---

You might want to read it again. The CA must delete their TL if they give it back to the OC or sell it to another CA.  It has nothing to do with natural or declared disasters. That is something on its own. 

[DaBears]

Robert, you can google it and it comes right up.