UPDATE #3!!! Sister called with panic attack over "Account is deemed as uncollectible"

[Anonymous]

Just a note - disputing items that you know are valid as "I have no knowledge of this account" is heavily frowned upon.

I doubt they inserted two lines on purpose, the "new" one only has February 2017 in its historical data. Speak to Experian and let them know there should be one tradeline. This is probably because of the frivilous dispute. 

[merlinflex]

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@Anonymous wrote:

Just a note - disputing items that you know are valid as "I have no knowledge of this account" is heavily frowned upon.

I doubt they inserted two lines on purpose, the "new" one only has February 2017 in its historical data. Speak to Experian and let them know there should be one tradeline. This is probably because of the frivilous dispute. 

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Yeah, you are correct. Except she didn'the enter that comment until this morning, after this showed up. She'said human and frustrated and Experian not open on weekends. How does thar explain two different account numbers? 

[Anonymous]

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@merlinflex wrote:

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@Anonymous wrote:

Just a note - disputing items that you know are valid as "I have no knowledge of this account" is heavily frowned upon.

I doubt they inserted two lines on purpose, the "new" one only has February 2017 in its historical data. Speak to Experian and let them know there should be one tradeline. This is probably because of the frivilous dispute. 

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Yeah, you are correct. Except she didn'the enter that comment until this morning, after this showed up. She'said human and frustrated and Experian not open on weekends. How does thar explain two different account numbers? 

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I didn't mean by the general public, I meant by the credit bureaus. She can call them Monday morning. 

Actually, looking at it again there are also two different addresses for the creditor. It was likely transferred to their own internal collections department at another office, as opposed to a third party collection agency.

[merlinflex]

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@Anonymous wrote:

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@merlinflex wrote:

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@Anonymous wrote:

Just a note - disputing items that you know are valid as "I have no knowledge of this account" is heavily frowned upon.

I doubt they inserted two lines on purpose, the "new" one only has February 2017 in its historical data. Speak to Experian and let them know there should be one tradeline. This is probably because of the frivilous dispute. 

---

Yeah, you are correct. Except she didn'the enter that comment until this morning, after this showed up. She'said human and frustrated and Experian not open on weekends. How does thar explain two different account numbers? 

---

I didn't mean by the general public, I meant by the credit bureaus. She can call them Monday morning. 

Actually, looking at it again there are also two different addresses for the creditor. It was likely transferred to their own internal collections department at another office, as opposed to a third party collection agency.

---

Yepper, that is our thought as well. Which means she will have to be on the phone at 7am CST with Experian to get them to understand that and hopefully remove the 2nd one and thus result in her score readjusting itself and hope they do it quickly before any credit card companies take AA, thinking they might not given her score is still in the good range, but one never knows given that it is probably all automated and once Amex, Chase, CAP1 get the CR/FICO update their system will automatically flag it.  So guessing time is of the essence and of course all depends on who she gets on the phone at Experian and whether they are in agreement and how long it takes. Very frustrating. Of course as that still leaves Equifax to deal with should they do the same **bleep** thing. Equifax says it is "charged off" already, but so did Experian until this showed up today.

[Anonymous]

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@merlinflex wrote:

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@Anonymous wrote:

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@merlinflex wrote:

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@Anonymous wrote:

Just a note - disputing items that you know are valid as "I have no knowledge of this account" is heavily frowned upon.

I doubt they inserted two lines on purpose, the "new" one only has February 2017 in its historical data. Speak to Experian and let them know there should be one tradeline. This is probably because of the frivilous dispute. 

---

Yeah, you are correct. Except she didn'the enter that comment until this morning, after this showed up. She'said human and frustrated and Experian not open on weekends. How does thar explain two different account numbers? 

---

I didn't mean by the general public, I meant by the credit bureaus. She can call them Monday morning. 

Actually, looking at it again there are also two different addresses for the creditor. It was likely transferred to their own internal collections department at another office, as opposed to a third party collection agency.

---

Yepper, that is our thought as well. Which means she will have to be on the phone at 7am CST with Experian to get them to understand that and hopefully remove the 2nd one and thus result in her score readjusting itself and hope they do it quickly before any credit card companies take AA, thinking they might not given her score is still in the good range, but one never knows given that it is probably all automated and once Amex, Chase, CAP1 get the CR/FICO update their system will automatically flag it.  So guessing time is of the essence and of course all depends on who she gets on the phone at Experian and whether they are in agreement and how long it takes. Very frustrating. Of course as that still leaves Equifax to deal with should they do the same **bleep** thing. Equifax says it is "charged off" already, but so did Experian until this showed up today.

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Sorry, I wasn't really clear. I meant that the second tradeline is probably valid, as it looks like the debt was transferred to another office, and thus is being reported accurately. They aren't going to be deleted as duplicate accounts because the account numbers are different and one appears to be the creditor, and the other a debt collector.

I strongly recommend trying to pay to delete the collection account, and then contact the original office and ask if they will remove their tradeline as well once it is paid.

[merlinflex]

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@Anonymous wrote:

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@merlinflex wrote:

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@Anonymous wrote:

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@merlinflex wrote:

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@Anonymous wrote:

Just a note - disputing items that you know are valid as "I have no knowledge of this account" is heavily frowned upon.

I doubt they inserted two lines on purpose, the "new" one only has February 2017 in its historical data. Speak to Experian and let them know there should be one tradeline. This is probably because of the frivilous dispute. 

---

Yeah, you are correct. Except she didn'the enter that comment until this morning, after this showed up. She'said human and frustrated and Experian not open on weekends. How does thar explain two different account numbers? 

---

I didn't mean by the general public, I meant by the credit bureaus. She can call them Monday morning. 

Actually, looking at it again there are also two different addresses for the creditor. It was likely transferred to their own internal collections department at another office, as opposed to a third party collection agency.

---

Yepper, that is our thought as well. Which means she will have to be on the phone at 7am CST with Experian to get them to understand that and hopefully remove the 2nd one and thus result in her score readjusting itself and hope they do it quickly before any credit card companies take AA, thinking they might not given her score is still in the good range, but one never knows given that it is probably all automated and once Amex, Chase, CAP1 get the CR/FICO update their system will automatically flag it.  So guessing time is of the essence and of course all depends on who she gets on the phone at Experian and whether they are in agreement and how long it takes. Very frustrating. Of course as that still leaves Equifax to deal with should they do the same **bleep** thing. Equifax says it is "charged off" already, but so did Experian until this showed up today.

---

Sorry, I wasn't really clear. I meant that the second tradeline is probably valid, as it looks like the debt was transferred to another office, and thus is being reported accurately. They aren't going to be deleted as duplicate accounts because the account numbers are different and one appears to be the creditor, and the other a debt collector.

I strongly recommend trying to pay to delete the collection account, and then contact the original office and ask if they will remove their tradeline as well once it is paid.

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Ok, appreciate the update. How is that not double dipping so to speak? Two dings for the same trade? Makes it look like twice as much owed and twice as many lates? So they are trying to turn up the pressure on her to pay as I suspected

[rmduhon]

Sent you a PM

[merlinflex]

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@rmduhon wrote:
Sent you a PM

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Thanks, saw and replied!!

The bigger worry she has is will there be any AA by any of her credit card companies like Amex, Chase, CAP1.  I am on the fence as to if that will happen given that she dropped from 722 tp 687, although a 35pt drop, she is still in the "good" range. But the addition of the collection account is what might spook them. But she has had her accounts for a long time and pays them without issues and has no other baddies at all, none, zilch except tha one from OneMain that is 6 years old and was in "charge off" status. The rest of her profile was clean.  Didn't affect her the last 3 years when she got a house, car and new(ish) cred cards in the $25K+ CL's.

My thought is, she has disputed them, so they are removed from the FICO score, for 30 days, prob more like 2 weeks since it is all done elctroinically these days. Since she knows the debts is probably hers, regardless of of the screw up of the banks, she should call them Monday and pay the **bleep** thing off on the condition they remove/withdraw the collection account which should set her EQ score back to 723 at some point.  Know they are not going to remove the Charge off account, but scheduled to drop off in April 2018 anyway and her scores was 723 with it on anyways.

One things is not clear to me, if paying the Charge off account and zeroing it out, what type of affect will that have on her credit scores? That is the big question!?!?

[Anonymous]

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@merlinflex wrote:

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@Anonymous wrote:

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@merlinflex wrote:

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@Anonymous wrote:

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@merlinflex wrote:

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@Anonymous wrote:

Just a note - disputing items that you know are valid as "I have no knowledge of this account" is heavily frowned upon.

I doubt they inserted two lines on purpose, the "new" one only has February 2017 in its historical data. Speak to Experian and let them know there should be one tradeline. This is probably because of the frivilous dispute. 

---

Yeah, you are correct. Except she didn'the enter that comment until this morning, after this showed up. She'said human and frustrated and Experian not open on weekends. How does thar explain two different account numbers? 

---

I didn't mean by the general public, I meant by the credit bureaus. She can call them Monday morning. 

Actually, looking at it again there are also two different addresses for the creditor. It was likely transferred to their own internal collections department at another office, as opposed to a third party collection agency.

---

Yepper, that is our thought as well. Which means she will have to be on the phone at 7am CST with Experian to get them to understand that and hopefully remove the 2nd one and thus result in her score readjusting itself and hope they do it quickly before any credit card companies take AA, thinking they might not given her score is still in the good range, but one never knows given that it is probably all automated and once Amex, Chase, CAP1 get the CR/FICO update their system will automatically flag it.  So guessing time is of the essence and of course all depends on who she gets on the phone at Experian and whether they are in agreement and how long it takes. Very frustrating. Of course as that still leaves Equifax to deal with should they do the same **bleep** thing. Equifax says it is "charged off" already, but so did Experian until this showed up today.

---

Sorry, I wasn't really clear. I meant that the second tradeline is probably valid, as it looks like the debt was transferred to another office, and thus is being reported accurately. They aren't going to be deleted as duplicate accounts because the account numbers are different and one appears to be the creditor, and the other a debt collector.

I strongly recommend trying to pay to delete the collection account, and then contact the original office and ask if they will remove their tradeline as well once it is paid.

---

Ok, appreciate the update. How is that not double dipping so to speak? Two dings for the same trade? Makes it look like twice as much owed and twice as many lates? So they are trying to turn up the pressure on her to pay as I suspected

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It's not if they are their own debt collector. It's no different if they sold the debt to a third party debt collector and that collection agency added a collection account to your report for the charged off debt. You'd still have two negative tradelines. However, I think the second one's type is incorrect, it should not be reporting as a 'note loan' as your sister did not get a second loan. That is a basis for dispute, so if I were her I would call Monday morning and explain the sitution to a rep, because it will get verified and hurt any chances of actually fixing the problem. I will say though, if she tries to pay for delete after the investigation, it probably won't go over to well, so she needs to do that before it gets that far.

And while the actual charged off account will fall off in a year, the collection account will have its own expiration in 7 years.

[merlinflex]

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@Anonymous wrote:

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@merlinflex wrote:

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@Anonymous wrote:

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@merlinflex wrote:

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@Anonymous wrote:

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@merlinflex wrote:

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@Anonymous wrote:

Just a note - disputing items that you know are valid as "I have no knowledge of this account" is heavily frowned upon.

I doubt they inserted two lines on purpose, the "new" one only has February 2017 in its historical data. Speak to Experian and let them know there should be one tradeline. This is probably because of the frivilous dispute. 

---

Yeah, you are correct. Except she didn'the enter that comment until this morning, after this showed up. She'said human and frustrated and Experian not open on weekends. How does thar explain two different account numbers? 

---

I didn't mean by the general public, I meant by the credit bureaus. She can call them Monday morning. 

Actually, looking at it again there are also two different addresses for the creditor. It was likely transferred to their own internal collections department at another office, as opposed to a third party collection agency.

---

Yepper, that is our thought as well. Which means she will have to be on the phone at 7am CST with Experian to get them to understand that and hopefully remove the 2nd one and thus result in her score readjusting itself and hope they do it quickly before any credit card companies take AA, thinking they might not given her score is still in the good range, but one never knows given that it is probably all automated and once Amex, Chase, CAP1 get the CR/FICO update their system will automatically flag it.  So guessing time is of the essence and of course all depends on who she gets on the phone at Experian and whether they are in agreement and how long it takes. Very frustrating. Of course as that still leaves Equifax to deal with should they do the same **bleep** thing. Equifax says it is "charged off" already, but so did Experian until this showed up today.

---

Sorry, I wasn't really clear. I meant that the second tradeline is probably valid, as it looks like the debt was transferred to another office, and thus is being reported accurately. They aren't going to be deleted as duplicate accounts because the account numbers are different and one appears to be the creditor, and the other a debt collector.

I strongly recommend trying to pay to delete the collection account, and then contact the original office and ask if they will remove their tradeline as well once it is paid.

---

Ok, appreciate the update. How is that not double dipping so to speak? Two dings for the same trade? Makes it look like twice as much owed and twice as many lates? So they are trying to turn up the pressure on her to pay as I suspected

---

It's not if they are their own debt collector. It's no different if they sold the debt to a third party debt collector and that collection agency added a collection account to your report for the charged off debt. You'd still have two negative tradelines. However, I think the second one's type is incorrect, it should not be reporting as a 'note loan' as your sister did not get a second loan. That is a basis for dispute, so if I were her I would call Monday morning and explain the sitution to a rep, because it will get verified and hurt any chances of actually fixing the problem. I will say though, if she tries to pay for delete after the investigation, it probably won't go over to well, so she needs to do that before it gets that far.

And while the actual charged off account will fall off in a year, the collection account will have its own expiration in 7 years.

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Not sure about that last part based on what we found on Experian website: http://www.experian.com/blogs/ask-experian/why-an-original-account-and-collection-account-both-appear-on-your-credit-report-for-the-same-debt/

Because a collection account is treated as a continuation of the original debt, it will be deleted at the same time as the original account. The original account and subsequent collection accounts will be deleted seven years from the original delinquency date. The original delinquency date is the date of the first missed payment after which the account was never again current.

The collection agency is required by law to carry over that original delinquency date from the first account and report it to the credit reporting company. That ensures the collection account is deleted at the correct time.

 

In any event, spoke to her last night and this morning. Leaning towards calling Experian first thing in the morning to remove the dispute on the "charge off"one  that has been there for a bit. Then to modify the one that just came in yesterday day as the dispute should not be reading a new note loan account and incorrect end date.  Once she gets that done then she can call OneMain and simply say she has never rec'd any info regarding this and is willing to pay it for removal of the collection account information for the CRs and that should be that. She can split her loses and be done with it. The original "charge off" will stay there and the collection that was added will not, her score should go back to 723 or so shortly and the charge off will fall off in April 2018 or so.

Only remains is will paying the charge off and zeroing out the balance have a negative affect on her credit reports/score/FICO? Anyone?