topic Re: Duplicate Accounts on Credit Report in General Credit Topics

Duplicate Accounts on Credit Report

Anonymous — Mon, 23 Jan 2017 21:33:04 GMT

I have a citifinancial account and a ditech financial acct these are the same accounts. Can I get one removed?

Re: Duplicate Accounts on Credit Report

Anonymous — Tue, 24 Jan 2017 02:15:14 GMT

Duplicate accounts aren't always a bad thing. If it's a positive account (no negative items) and is older than your AAoA for example it could be worth just leaving it.

Re: Duplicate Accounts on Credit Report

RobertEG — Tue, 24 Jan 2017 18:48:32 GMT

Was the account sold by the original creditor to another?

Re: Duplicate Accounts on Credit Report

Anonymous — Tue, 24 Jan 2017 19:50:34 GMT

So one is original creditor then sold to collections then to another. So 3 in total.

Re: Duplicate Accounts on Credit Report

Anonymous — Tue, 24 Jan 2017 22:46:30 GMT

I think this would make it 3 different accounts then in theory.

It's like when you have a mortgage that gets sold/acquired by another company. This happened to me about 10 years ago when my Countrywide mortgage was scooped up by Nationstar. Both of the accounts were on my credit reports. Of course this event could result in an AAoA reduction due to the new account, but at least there wouldn't be an inquiry to go along with it.

Re: Duplicate Accounts on Credit Report

RobertEG — Wed, 25 Jan 2017 17:57:37 GMT

The original creditor account, once sold, must be updated to closed with $0 debt balance, but otherwise continues to report, reflecting your history with the creditor.

If the debt was delinquent and sold, the new owner is a debt collector and can report their collection.

Both the original creditor reporting and the collection can simultaneously be included in your credit report.

If the debt is subsequently sold to another, the selling debt collector is required under CRA policy to delete their reported collection.

The purpose of that policy is to therafter prevent two collections from simultaneously being included on the same debt.

The new debt collector can then report their collection.

You can thus continue to have reporting of the OC account and of one collection.

Re: Duplicate Accounts on Credit Report

Anonymous — Wed, 25 Jan 2017 21:08:47 GMT

Good info here from Robert. OP, what types of accounts are these? Is it a collection as referenced above?