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Home equity loans

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Home equity loans

I have an home equity loan that is showing sold/transferred so that it is now being reported twice can I get one removed?

Message 1 of 2
Legendary Contributor

Re: Home equity loans

It depends on what is being "reported twice."

The original creditor is not requried to delete the entire account, such as any prior derogs reported by them, based on sale of the debt to another party.

What they must do is to update the current balance owed to them as $0.  This is similar to sale of debt by a OC to a debt collector. 

That alone does not mandate OC account deletion.  Just an update on amount of debt owed to them.

In fact, if the account had no derogs, you probably dont want it delete, since it has a prior date of account opening that is probably benefitting your AAoA.


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