BofA question in collections

[Anonymous]

I have a BofA card that is now in collections. I recently pulled my credit report to find that it was on there twice. It seems that BofA has sold the debt and now both them and the collections agency is reporting it.

My report shows that the debt from BofA will drop off my report on 4/2010. however it is showing the same debt to the collections agency will drop of my account in 3/2012. 

my question is...is this even possible that they report the debt twice just because it is in collections? What should i do, if anything to clear this matter? I opened the account in 2001. the account was closed in 2003  and the account was opened in Mississippi if any of that makes a difference.

thank you

[llecs]

You may want to look up your SOL first, but if these drop off dates are on your TU or EX CRs as pulled from the CRAs, then be sure to frame it. Looks as if the CA re-aged the account. Certainly is disputable. It is illegal to re-age anything on the CR. Basically the CA changed the date to get it to report longer and possibly extend the SOL by 2 yrs. Though I bet it is an error on their part.

Looks like you are past SOL either way (3 yrs in MS). SOL goes off the DOFD. Did you pay anything after BofA closed it? And if so, when did you do that? You live in MS now, right?

If you still have BofA's statements, then I would dispute via mail with the CRAs that this account was re-aged and include a copy of your statements showing your DOFD and that it was closed in 2003. Another source is a collection letter from the CA showing that they are collecting for this debt. The CRAs would see that re-aging was possible. Yet another might be an old report that shows an earlier drop off date by the CA, assuming they did this after they reported. If you lack any proof, then about all you can do is DV. Or you can take the risk and dispute it (do it by mail CMRRR).

Which CA is this?

[Anonymous]

this was transunion. and the information shows on my CR as this:

BofA: Loan type credit card; high balance 2,932 credit limit 1,200; pay status: Charge off as bad debt; date open 10/2001 date closed 05/2003 date paid 3/2005 (which i did not pay)

Collection Agency:  Loan type: collection agency attorney; balance 2, 932; date updated 07/2008; original balance 2,932; orginal creditor BofA ; pay status collection account; past due amount 2, 932; account type open account

even though i opened the acount in MS i have since moved to Texas (8/2008) i never made a payment on this account in years. (this was an account i opened in undergrad and i its been since about 2003/2004 since i made a payment) i have nothing regarding this account no statements, no letters from collections etc. 

[nothingman02]

if the original debt is charged off and sold to a jdb, they both can list the a/c on your report. And only way you can ge rid of them both is to do a pfd with the CA and a GW with the OC. If the GW doesnt work, after a couple of years or so, you can dispute the OC a/c with the CRA and they will not bother to verify..or so you can hope.. Whatever it is, keep a close eye on your accounts when they are enaring their SOL.

If the 'drop off' dates are different, then the CA is definitely re-aging. Its illegal and one could claim $1000.00 for it. i dont know how to go about it though. But I know that before you can sue, you have to dispute it with the CRA.

[llecs]

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ebonygirl wrote:

this was transunion. and the information shows on my CR as this:

BofA: Loan type credit card; high balance 2,932 credit limit 1,200; pay status: Charge off as bad debt; date open 10/2001 date closed 05/2003 date paid 3/2005 (which i did not pay)

Collection Agency:  Loan type: collection agency attorney; balance 2, 932; date updated 07/2008; original balance 2,932; orginal creditor BofA ; pay status collection account; past due amount 2, 932; account type open account

even though i opened the acount in MS i have since moved to Texas (8/2008) i never made a payment on this account in years. (this was an account i opened in undergrad and i its been since about 2003/2004 since i made a payment) i have nothing regarding this account no statements, no letters from collections etc. 

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Nothingman is spot on.

The reason it says $0 and paid for BofA is because BofA sold it to the CA. It is reporting OK.

TX is 4 yrs so you are still OK. Some states allow debt to be tolled from one state to the next.

If your reports clearly state the "estimated date for removal" and the dates are wrong between BofA and the CA, then I personally would dispute. But first I'd probably send a DV just to see what would happen. If they verify (TX requires a 30-day DV response), then I probably would dispute next.

[iwantbettercredit]

They are double reporting it and yes, you have the right to have it removed.  Most likely BOA sold the account depending on how old it is,.  Collection companies buy up dead accounts for pennies on the dollar. Therefore BOA no Longer owns it, so it should be removed because someone else took it over.  I've been there, done that and no how it works.  You just have to make sure BOA sold it.  Call BOA and they will tell you if it has been sold. Then dispute it with the credit bureau as double reporting.