cancel
Showing results for 
Search instead for 
Did you mean: 

Qestions about collections

Beavis26
Regular Contributor

Qestions about collections

can a collection agency still report a collection if it shows $0 closed/transfered or sold I thought thaat once it was sold they can no longer report it 

12/02/2014 TU 521 EQ 522 EX 529
5/15/2016 TU 764 EQ 747 EX 734

Cap1QS $4000,BOA Rewards $1200,DiscIt $2300,Citi DC $2600,Chase freedom $6000,AMZ $6000,WAL $6000,PAYpal $4000,JREW $8250 $750,Sam's $8000
In the garden until 2018
Message 1 of 3
2 REPLIES 2
RobertEG
Legendary Contributor

Re: Qestions about collections

There is no statutory requirment under either the FDCPA or the FCRA that requires a debt collector to delete their reported collection once their collection authority is termianted, such as by sale of the debt.

 

The "requimrent" is an administrative credit reporting instruction contained in the standard credit reporting manual used by the big-3 CRAs.

The CRAs established that policy in order to preclude two collections from simultaneously showing in a consumer credit report on the same debt, should a new debt collector report.

 

Debt collectors are often a bit lax in complying with that administrative instruction.  A call to them or a complaint/dispute with the CRA may be necessary, but in the end, you can use the CRA policy as means to get deletion.

Message 2 of 3
Beavis26
Regular Contributor

Re: Qestions about collections

OK thanks and they loans are back with the department of education so they show up twice
12/02/2014 TU 521 EQ 522 EX 529
5/15/2016 TU 764 EQ 747 EX 734

Cap1QS $4000,BOA Rewards $1200,DiscIt $2300,Citi DC $2600,Chase freedom $6000,AMZ $6000,WAL $6000,PAYpal $4000,JREW $8250 $750,Sam's $8000
In the garden until 2018
Message 3 of 3
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.