many reporting on the same account

[Anonymous]

OK, I am new here, and I am sure this has been asked before, but I don't see it.

If I have a bad credit card debt, and it is sold to a CA, is it correct that they can both report on the same bad debt/account? I know it is 2 different agencies, but it is the same account. I am trying to rebuild my credit in a crunch (in a 6 month time frame) from 502 to at least 670, and I know it can be done with a lot of effort and letter writing, but some of it can be helped if I can reduce same bad account marks from the bank and the CA reporting on the same bad debt to just one reporting on it.

I do know all of what I have to do, and I have already paid off, in full 6 of 9 bad marks on my account, so they will not be shown as paid at a settled (less than) amount, and I have worked out a payment plan with two others to pay them off in 1 year, and one will actually be paid off in the next 3 months...the last one is big, a repo, and I will work that out somehow, I already own (mortgage) a home, and I have one major credit card that I am at 25% of available on.

so, can I get them to list this as 1 bad debt and not two seperate bad debts for each that are there?

Thanks

[Anonymous]

I would DV them both (the OC and the CA)

If the OC sold the debt, it should show a $0 balance.  Only one of the above should show a balance.  If they both show a balance, there's a chance the OC still owns the debt, and when you DV the CA, they won't be able to prove they now own it and must remove their trade line from your CR.

Good luck

[Anonymous]

Thanks much for the quick reply !

Again, being new, I am not sure how to kick off the DV, is that to the CRA, or do I do that to them?

In the end, I know it is my debt, and I am not trying to run from it, cut it down, or even wait till it falls off, I just want to pay my debt and fix my credit, but it is great fun (NOT)  to see how they just don't really want to help you when you have fallen on bad times and now want to correct it, but they will take the money no problem, and still try and belittle you for not paying it in the beginning. Yeah, like we are all trying to scam them...UGH!

Fixing this should be as easy as messing it up!

[guiness56]

---

@Anonymous wrote:

I would DV them both (the OC and the CA)

If the OC sold the debt, it should show a $0 balance.  Only one of the above should show a balance.  If they both show a balance, there's a chance the OC still owns the debt, and when you DV the CA, they won't be able to prove they now own it and must remove their trade line from your CR.

Good luck

---

You can only DV a CA, not the OC.

If both the CA and the OC are showing balances it means the OC still owns the debt.  It is legal for both to show a balance if the OC owns it.

The CA does not need to own the debt to collect on it, it can be assigned to them.