topic OC + 2 CA's all reporting same account in Rebuilding Your Credit

OC + 2 CA's all reporting same account

Dani62384 — Tue, 29 Mar 2011 19:32:16 GMT

Hi all. I'm new here, been lurking for a wk or so. I'm in the process of rebuilding my credit to hopefully purchase my 1st home. On my credit report (TU), I have the OC and 2 CA's reporting on my credit report.

OC- Opened 12/04: Profit and loss writeoff, closed 1/06- still showing a balance of $507

CA 1- Opened 12/08 w/ a balance of $507

CA 2- Opened 11/10 w/ a balance of $633

Can they all do this?

Re: OC + 2 CA's all reporting same account

Anonymous — Tue, 29 Mar 2011 22:42:46 GMT

You can have the OC and one CA actively trying to collect on the debt at one time.

If the OC is showing a balance, they still own the debt. Or it is not reporting correctly. If the OC sold the debt it should be 0.

If both the CAs are showing a balance, I would be willing to be one of them is not supposed to be there. If one CA sold it to the other they should show a 0 balance.

What is the DoFD of the account from the OC? Is the debt still within your states SOL?

Re: OC + 2 CA's all reporting same account

Dani62384 — Wed, 30 Mar 2011 16:22:06 GMT

Well the DoFD of the OC is 9/2005. But the weird thing is one of the CA's is reporting the DoFD is 05/2005. All 3 are showing a balance. I'm very very new to this, so i'm not sure what the SoL is in my state.

Re: OC + 2 CA's all reporting same account

MarineVietVet — Wed, 30 Mar 2011 17:09:25 GMT

@Dani62384 wrote:
Well the DoFD of the OC is 9/2005. But the weird thing is one of the CA's is reporting the DoFD is 05/2005. All 3 are showing a balance. I'm very very new to this, so i'm not sure what the SoL is in my state.

Hello there.

Just do an internet search for the SOL for your particular state. It's very easy to find.

Or just let us know where you live and someone will tell you the SOL for your state.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Re: OC + 2 CA's all reporting same account

Anonymous — Wed, 30 Mar 2011 17:16:29 GMT

Or refer to the sticky for "State Resources" at the top of the thread

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/State-Resources/td-p/376615

Re: OC + 2 CA's all reporting same account

Dani62384 — Wed, 30 Mar 2011 17:58:36 GMT

It shows 5 years for open accounts for debt collections. So since they were in 2005, it has obviously been more than 5 years, but what does that mean? What can I do about that?

Re: OC + 2 CA's all reporting same account

Anonymous — Wed, 30 Mar 2011 18:17:39 GMT

So congratulations, it's past SoL. They can't sue you for it anymore (at least not successfully - if they do anyway, you show up and tell the judge that it's past SoL)

Step 1: DV both CAs.

Step 2: Call the OC and ask if they can / will pull the CA back who is supposed to be trying to collect, and ask if they'll take payment. While you're at it, ask them if they can delete any negative reporting.

Step 3: if they say "no", try to get a PfD from the correct CA. Either the OC will tell you who the correct CA is or one of the two will validate. If neither validates and the OC can't / won't tell you, do nothing until you hear from a new CA about this debt.

Re: OC + 2 CA's all reporting same account

Dani62384 — Wed, 30 Mar 2011 18:28:09 GMT

Awesome. Thanks for the help.