Duplicate accounts reporting.

[Anonymous]

Hey guys. I am in the middle of some disputing of my CRs. I have a HSBC account reporting a 0 balance and chargeoff, that was sold to Portfolio Recovery, who is also reporting. The HSBC says "Account purchased by another lender" or something beside it. It is scheduled to drop off my CRs in 2009. The Portfolio counterpart is reporting as of 2005. If I dispute the HSBC, does it have to come off? Does Portfolio get its own 7 years to tank my credit for the same account? SOL in Virginia is 4 years, if that makes a difference. You guys are the best.

[SmartCookie]

If it is set to drop off in 2009 then the DOFD would have been sometime in 2002, that sound right?  Portfolio needs to drop at the same time as the SOL for reporting is 7 years (7.5 technically).  If your SOL is 4 years that means you can't be sued for the debt, but it can be reported.  This isn't a case of double reporting though as HSBC is showing 0 balance.

Since it is sold, you can't deal with HSBC to try for a PFD with them (which would have wiped out the CA too) but you can try for a PFD with Portfolio if you don't want to wait it out till 2009.  Make sure the dates on Portfolio are correct though, you might need to pull directly from the CBR to see it.

You can GW HSBC in the meantime.