Same lates being reported by different entities?

[Anonymous]

Hi, 

First off I just started working on repairing my credit and want to thank this forum for already providing some invaluable information.   I recently received a copy of my credit report from Equifax and I'm wondering about the way some "lates" are being reported.

I had a credit card with USB that had the following late payments:

Feb 2007 - 30 day

Mar 2007 - 60 day

Apr 2007 - 60 day

On April 2008 that account was transferred/sold to another entity, Metaindigo.

The Metaindigo entry on my credit report looks identical to the USB one.  It lists the same exact lates on the same dates: 

Feb 2007 - 30 day

Mar 2007 - 60 day

Apr 2007 - 60 day

Now I have not had any kind of relationship with Metaindigo before April 2008, when they bought my debt from USB.   How can they report these payments as lates?  Metaindigo lists the account open date as Aug 2005, which is when I opened the account with USB but in actuality Metaindigo had absolutely nothing to do with that account before April 2008.

Is this a standard way of reporting these things?  I feel like I am being doubly penalized - I incurred 3 late reports in actuality yet there are 6 on my report.  Should I dispute this?  Can anyone give this credit-fixing noob any info on how I should proceed?    Thanks in advance. 

[LIGHTNIN]

Hi welcome to the forums,

Good questions. I'd like to know that too. 

My mortgage is reporting the same way,and it has been bought and sold/transfer 3X's already.

It maybe helping history or the AAoA......I dont know............So bump ditty bump to the top of the thread.

All I know is that these lates are almost 3yrs old....Send a GW letter to have them removed. 

Message Edited by LIGHTNIN on 01-23-2010 04:34 AM

[Anonymous]

Yeah I just learned about GWs from this forum - I'm composing them this weekend and they're going out Monday

I examined my CR closely and found a line that says total lates 3.   So it looks like they are not counting them double otherwise it would be six.  Still I find it a little disconcerting that a company who took over the account at date X would report history prior to that date.

[AndySoCal]

The answer is simple. When the account has transferred to the new company the account history was also transferred this is not uncommon.