Hello everyone! I am new to the forum and thankful for all of the great info. provided here. I noticed on one of my CR two different CA are listing the same account. What shall I do? Thank you in advance!
OP, I split your post to form a new one here. I had to edit the title, but changed nothing else. If you'd like to change the title, click "Options" and then "Edit Message".
I am having the same issue but with 4! 4 CA's all claiming to be collecting the same account. I have disputed, sent DV letters and they all come back valid. GRRR!
As far as I know, there's two ways that CA's work. They can get sent contact and account info and try to collect on a debt and get a commission on what they collect, with the original debt holder getting the rest (for example a balance on a Verizon account and Verizon contracts a CA and pays them 20% of balance collected). They can also buy the debt outright for pennies on the dollar and try to collect the full balance, so then the debt becomes their property. If you have multiple collectors on the same debt, I would thinkg that either: A) They've contracted multiple agencies to try to collect balances, or B) Some of those agencies are no longer in business but it was never reported as such.
You say that you've disputed and they've been confirmed, do you get letters of the confirmation? I know for a fact that Experian, Equifax, and TransUnion don't always research accounts when disputed, because I disputed an account from a medical bill that was sold to a local agency (I did not pay on poor advise from my lawyer). I paid the debt and it was reported as paid and good but still affecting me. I got on to the free annual report site at 8 pm one night and disputed it on each one saying "I know nothing of this, I never owed it, I never payed anyone". For two of them, it was removed within 2 days, for one, it was literally less than 2 hours that I got an email saying it was removed (between 8pm-10pm CST). I double checked and it was gone. So yeah, they don't always actually review stuff.
If you can, get those confirmation letters. Also, if you know where the debt originated, contact that company and find out who owns the debt, if they sold it, or if they contracted someone to collect on it, and go from there. You may be able to work directly with originator and settle the debt with them, depending on if they have the debt and their contract with the CAs. If you do get the debt paid, make sure you get a signed and printed letter stating the balance is paid and send that to the reporting agencies. If they don't act on that, file a complaint with some government agency (I'm not sure which one, you'd have to research that a little bit).
A debt collector, after obtaining collection authority, either by assignment from another owner, or by purchase of the debt, can report the fact of their collection on the debt to the CRAs. Termination of their collection authority, again either by termination of their assigned authority or by sale of the debt, requires that they promptly update any reported collection to show closed, $0 under collection. The fact of no longer actively collecting on the debt does not render their prior reporting inaccurate, and thus does not compel its deletion. It is not uncommon for a CR to show multiple collections based on the same OC account.
What cannot show in your CR is two debt collectors both having active collections, meaning both open and reporting a current balance under their collection.
The inactive collector must update their reporting to reflect its termination.