Two collection agenciea reporting same debt!!

[Poodles585]

I have a bill with Time Warner/spectrum for $422.00. I checked my credit report because I got an alert saying I have two collections. I look at it and the two agencies (Divistified Consulants and MRS po (?)) Reporting both. I called the cable company and there saying they did not sell the account to anyone. What do I do now?

[tufa4311]

They didn't need to sell it to anyone, only to give collection authority to someone else while keeping ownership of the original debt.

Do both collections have a balance greater than $0? I would do a DV (debt validation) but I believe a DV has a 30 day time limit from the date of the collection notice. That means the CA is not required to responsd after the 30 day limit - but that doesn't mean they won't. I'd DV both of them.

[Anonymous]

In addition to DV, you could also dispute with CRA that both collection agencies reporting same account. I think only the one with present collection authority can list their tradeline.

[tufa4311]

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@Anonymous wrote:
In addition to DV, you could also dispute with CRA that both collection agencies reporting same account. I think only the one with present collection authority can list their tradeline.

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I beleive that multiple CA's can list the same collection for the time that they had collection authority. Only one, with present collection authority, may have a balance, the others would have to update their balance to $0 as they are no longer the collection authority and have no right to any funds, but they do have the right to list the months of collections while they had the collection authority.

[Anonymous]

Ok. Is that what they did?

[tufa4311]

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@Anonymous wrote:
Ok. Is that what they did?

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Need more info - need the exact info. List the exact months, exact balances for each month, exact status for each month - all for both credit lines.

[RobertEG]

CRA reporting policy instructs a debt collector to delete their reported collection if their collection authority is teminated and the debt remains unpaid.

The purpose of that CRA policy is to preclude the reporting of multiple collections on the same debt.

The collection that shows the earlier Date Opened is the earlier debt collector.

You can contact the CRA and dispute their lack of deletion.

[tufa4311]

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@RobertEG wrote:

CRA reporting policy instructs a debt collector to delete their reported collection if their collection authority is teminated and the debt remains unpaid.

The purpose of that CRA policy is to preclude the reporting of multiple collections on the same debt.

The collection that shows the earlier Date Opened is the earlier debt collector.

You can contact the CRA and dispute their lack of deletion.

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I thought a collector could report on the months that they had legal collection authority even if they no longer have collection authority now.

[rmduhon]

@tufa4311 They can only am report while they have collection authority. Once they no longer have collection authority they must delete the account

[tufa4311]

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@rmduhon wrote:
@tufa4311 They can only am report while they have collection authority. Once they no longer have collection authority they must delete the account

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Not trying to be difficult - just want to ensure I am understanding this. Here is a note from a Community Leader for another issues:

If you pay the OC, that does not require the debt collector to delete their reported collection.  Deletion is optional.

Once you pay the OC, they (the OC) is required to notify their debt collector that the debt is no longer due.  That terminates their collection authority.

The debt collector is then required under FCRA 623(a)(2) to "promptly" update their reporting with the CRA to show that the collection is closed, and that the balance remaining under thier collection is $0.  If the OC is also reporting the debt balance, they similary have a requirment to promtplty notify that CRA that the debt balance under their account is now $0.

That should have all occured within approx one billing cycle after  your payment of the debt, but can take a bit longer, depending upon how prompt each is in providing notices to one another and to the CRAs, and the period between your payment date and their next regular reporting to the CRAs.  It can often take up to 60 days, and is not per se a violation of the FCRA.

A letter from the creditor stating that the debt has been satisfied and the collection authority termiated should fill the void until the smoke clears in your credit report.

If what is in bold above is true - does this not apply to the situation we are speaking on here? It is different, the above example is about a Collector and an OC, rather then 2 collectors - is that the difference?