Rebuilding Your Credit

[Rlandon87]

Ok I have searched this issue for about 3 days now and I'm still unclear - maybe I'm just not understanding it but can someone with some knowledge/experience explain this.

I have two GECRB accounts that were charged off and sold to a CA

GECRB/oldnavy - revolving
Closed. - sold to collection agency
Balance 0$. Charged off
History
Ok-ok-ok-ok-ok-30-60-90-120-kd-kd

Portfolio recovery. --- collection acct
GECRB old navy
Balance 0$
Paid was collection account
History
Kd-kd-kd-kd-kd-kd-nd-kd

Can they both report key derogatories? Is there anything to gain by disputing this?
I have sent gw's to both companies with no response.

Just need clarification on my options

[Shogun]

Actually, No, Portfolio can't report the Kds.  They are listing themselves as a factoring agency and bypassing the rules for CAs to report.

[Rlandon87]

Should I send a letter to all 3 CRA
and what should I say exactly?

I hate feeling like I need to be spoon fed it's just that I like to know every detail and want to do this the right way.

[Rlandon87]

Dear sir or madam,

It has come to my attention through a recent pull of my credit report that a collection agency, known as Portfolio Recovery, is reporting incorrectly.  

They are bypassing the reporting laws and reporting as a factoring agency. They are also reporting multiple "key derogatory" remarks on the two trade lines they are reporting, again another illegal practice as they are in fact a collection agency and nothing else.

The balance was paid in full on September 7th 2012 but, the aforementioned agency reported that the debt was $37.00 on both accounts. They also added an additional "key derogatory" remark after payment was made IN FULL.  I have receipt of these payments on both accounts.

I hope we can resolve these matters by deleting the false misrepresented trade lines by PORTFOLIO RECOVERY off of my credit history.

I have a typed revised letter to the BBB that I will be sending if these matters do not get resolved. I will also being taking legal action due to the negative effects this false reporting has had on my life events.

I hope this matter can be corrected before further action is warranted.

[Rlandon87]

Would this be an effective letter to the CA and CRA?