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Rise loan

New Contributor

Rise loan

Hi

In 2014 I received a loan from Rise.  Things happened in life  and I couldn't pay it off so collections it went.  Nca has it now.  My question is, can they both report?  They are both showing on my report.  Shouldn't Rise delete theirs since NCA has the account now?  This is a double whammy. 

Message 1 of 4
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Valued Contributor

Re: Rise loan


@1harmic1 wrote:

Hi

In 2014 I received a loan from Rise.  Things happened in life  and I couldn't pay it off so collections it went.  Nca has it now.  My question is, can they both report?  They are both showing on my report.  Shouldn't Rise delete theirs since NCA has the account now?  This is a double whammy. 


 

I had a loan with Rise previously.

 

Is it NCA or NCB?

 

Yes it is legal for both to report and yes it is a double whammy. 

 

If it is NCA they do not offer PFD, so when you pay it, both accounts remain, but they will update to paid and $0 balance and NCA will stop updating monthly and both will fall off in 2021 or whenever you first went late and never got current again. So 7 years after DoFD. I would always encourage still asking (begging) if they will do a PFD. Even if it is a sure thing they will not do it, you will never know unless you try and you may get lucky!

 

If it is NCB that has the CA, they will do PFD, but only if you PIF. That means Rise will stay on your CRs, but with an updated balance to $0, and the CA will come off your CRs. NCB had my CA for Rise, that is why I asked again if it was NCA or NCB.

 

Good luck!




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Message 2 of 4
New Contributor

Re: Rise loan

Unfortunately it's NCA National credit adjusters.... 

 

Message 3 of 4
Contributor

Re: Rise loan


@1harmic1 wrote:

Hi

In 2014 I received a loan from Rise.  Things happened in life  and I couldn't pay it off so collections it went.  Nca has it now.  My question is, can they both report?  They are both showing on my report.  Shouldn't Rise delete theirs since NCA has the account now?  This is a double whammy. 


Yes they are both allowed on your report. However, only 1 of them should have a balance, presumbly NCA. The balance on the Rise TL should be $0, but the balance on the NCA TL should be the amount owed.

 

If they both show a balance, I believe you can file a dispute to have the balance on the Rise TL removed. I would confirm that last part with a more experienced member though.

Message 4 of 4
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