Multiple Listings for the same debt

[Jeeper44]

I'm sure this has been asked before but I couldn't find it off hand.

I have two old bank debts, one with Wells Fargo on a deficit from a repo, and another from Citi on an unsecured loan. Both were charged off years ago and show on my CR as such. Both were bought up by CAs and those are also showing on my report.

I'm working on clearing up and settling this old debt. I know the collection agency owns the old debt and that's who I'll have to deal with. My question is that if I settle, the CA listing will show as Settled but what about the original listing. Will that continue to just show as charged off, even though the debt has since been paid? Basically I only have 4 bad listings on my credit report, regarding these 2 bad debts. My credit score sits on the upper 500's low 600s due to these as my mortgage, credit card and car loan are all showing as current, which they are. I can only assume that the score is so low because the $12k of bad debt, even though its all 5+ years old.

On another topic. My reports are showing an address that I've never lived at, as well as a name that is not me. Its the same first and last but a different middle initial. Can I just use the dispute form to fix these?

[LIGHTNIN]

Welcome to the forums

Hi jeeper44, Yes an OC and a CA can both report at the same time.Both will stay on your CR up to 7-7.5 yrs, from the OC"s DOFD.

Look into the PFD letters, it's an written agreement with the CA, that you pay and they delete.Getting the CA off your CR, may help your CS.

This agreement is only with the CA, so the OC will still be reporting on your CR. 

I would suggest reading Credit Scoring 101(just the 1st post is ok),  What Steps Do I Take? DV?PFD? --use links below if you wish.

You need to know the SOL for your State. And the DOFD from the OC.Knowing both of these things will help you decide what to do.

Have a good time reading and we will be here in case if you have any more questions.

[RobertEG]

The CO will remain.  Payment of debt does not remove the prior fact of occurance of a derog.

Even if hte CA acccepts a PFD and deletes their collection reporting, that wont result in deletion of any OC reporting.