I have a collection account that is from a creditor that is no longer listed on my credit report. I combed through my reports looking for the original account and it is not there. The account was a charged off credit card, I'm sure. My question is can I dispute the collection account to possibly have it removed? Is that even an angle for dispute.
@sznthescore wrote:I have a collection account that is from a creditor that is no longer listed on my credit report. I combed through my reports looking for the original account and it is not there. The account was a charged off credit card, I'm sure. My question is can I dispute the collection account to possibly have it removed? Is that even an angle for dispute.
WHEN did you default on the credit card of the original creditor?
What state are you in?
Who is the one reporting? A collection agency or a junk debt buyer?
Whether you SHOULD dispute depends heavily on those answers because often when a bad debt portfolio of accounts is sold one of the agreements is the original creditor will delete their trade line to reduce the risk of counter claims when the buyer sues the consumer. Also, if the SOL for suing has not expired then the last thing you want to do is start disputing trade lines because it could rush them to file.
@Cowboys4Life wrote:
@sznthescore wrote:I have a collection account that is from a creditor that is no longer listed on my credit report. I combed through my reports looking for the original account and it is not there. The account was a charged off credit card, I'm sure. My question is can I dispute the collection account to possibly have it removed? Is that even an angle for dispute.
WHEN did you default on the credit card of the original creditor?
What state are you in?
Who is the one reporting? A collection agency or a junk debt buyer?
Whether you SHOULD dispute depends heavily on those answers because often when a bad debt portfolio of accounts is sold one of the agreements is the original creditor will delete their trade line to reduce the risk of counter claims when the buyer sues the consumer. Also, if the SOL for suing has not expired then the last thing you want to do is start disputing trade lines because it could rush them to file.
@Cowboys4Life I defaulted I want to say in 2017. I live in GA. LVNV Funding is whose reporting. I heard they PFD, but Experian says it's due to fall off Nov 2023. Original creditor is Credit One. I'm thinking of waiting it out, but if it could come off sooner that would be great.
@sznthescore wrote:
@Cowboys4Life wrote:
@sznthescore wrote:I have a collection account that is from a creditor that is no longer listed on my credit report. I combed through my reports looking for the original account and it is not there. The account was a charged off credit card, I'm sure. My question is can I dispute the collection account to possibly have it removed? Is that even an angle for dispute.
WHEN did you default on the credit card of the original creditor?
What state are you in?
Who is the one reporting? A collection agency or a junk debt buyer?
Whether you SHOULD dispute depends heavily on those answers because often when a bad debt portfolio of accounts is sold one of the agreements is the original creditor will delete their trade line to reduce the risk of counter claims when the buyer sues the consumer. Also, if the SOL for suing has not expired then the last thing you want to do is start disputing trade lines because it could rush them to file.
@Cowboys4Life I defaulted I want to say in 2017. I live in GA. LVNV Funding is whose reporting. I heard they PFD, but Experian says it's due to fall off Nov 2023. Original creditor is Credit One. I'm thinking of waiting it out, but if it could come off sooner that would be great.
Okay, the SOL for suits in Magistrate Court in GA is 6 years which means they have until 2023 to sue you. It also means the reason Credit One isn't reporting is because LVNV is going to sue you. LVNV does do PFD I believe. If you want it gone I would settle it before they sue you. Your settlement options will be much better before they file and less trouble. You can try to wait it out but knowing their past behavior they are probably already in the law firm office with this file. Surprised you haven't received a letter to that effect yet.
@Cowboys4Life No, nothing about a suit at the moment, but I will put this on the top of my todo list for March. Thanks for that info. 👊🏽👍🏽
No, you cannot dispute it. Whether the OC is still reporting or not is irrelevant. What matters is who owns the debt now and whether they're currently reporting (and accurately of course) or not. Since you say it's LVNV, they'll do a PFD. That would be how to get them off earlier.
Thanks @OmarGB9 & @Anonymous I'm waiting on a response from them now. I signed up online and was able to retrieve the account. However, something about the status of the account they couldn't provide me with options. So, I send an email asking for options.... 🙃