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EX is reported the same info. Apparently, one of the CRA sold the acct to another CRA and now both are reporting on EX but not EQ or TU. How do I address the situation and is that legal.
Please help as it lowering my score with EX!!!!!
If a creditor sells an account to another creditor, both are allowed to report the information on your report--though the first creditor should indicate no balance and closed since the account was sold.
I've learned that multiple CAs can report the same debt, as well as the OC (if the OC hasn't sold the debt...rather, just assigned it). I have one account being reported for the same balance by the OC and 2 separate CAs. Sucks.
@p- wrote:Do you mean CA?
http://ficoforums.myfico.com/t5/Credit-Cards/Guide-to-common-abbreviations/m-p/88466#M17002
+1
There is nothing in the FCRA that requires one party to delete their reporting of accurate information based on another party also having authority to report their own activities or information.
Many debt collectors will delete their prior reporting upon termination of collection authority, if for no other reason than to foreclose having to address any subsequent FCRA disputes over their reporting, but it is not mandated.
The separate reporting by two debt collectors is NOT duplicate reporting of the same information. They each had or have their own legitimate collection authority, at different times. What would be improper is for two debt collectors to report simultaneous collection authority.
A collection is not necessarily the reporting of any debt owed to them. They may only be an assignee of collection authority. They are reporting collection activity on the debt.
I see no basis for compelling deletion of either.
YES I MEAN CA!!!!
Each CA is reporting a the same amount due. So how can the first CA report a balance due when it isn't even their account anymore?