funnycide Posted July 16, 2003 Report Share Posted July 16, 2003 Did anyone else see that article? Maybe now Sears will stop getting verified every time. Link to comment Share on other sites More sharing options...
ericasf Posted July 16, 2003 Report Share Posted July 16, 2003 Yup. Saw this today. BF has an account with them. Now states Transferred/sold to another lender. So maybe now I can get this account removed from his file. Link to comment Share on other sites More sharing options...
miwankiw Posted July 17, 2003 Report Share Posted July 17, 2003 This is indeed news..especially to someone like me.....I have some questions... does the transfer notation make things bad on the CR?How well will all the records transfer with them... ie, if you had lates 5 years ago, how well will they be able to verify the lates... seems like there may be an opening here....Will new tradelines show up now... so, will all those who have a sears account now have a CitiSears account? Link to comment Share on other sites More sharing options...
kb9tbq Posted July 17, 2003 Report Share Posted July 17, 2003 Looks like what is likely to happen is that Sears will report transferred zero balance, then Citi will also pick up reporting where sears took off. So you will have a new tradeline - good possiblilty of showing what was with sears as far as status.But you are right; this is good news for people with Sears accounts; because files & paper work get lost all the time, and they won't be able to catch everything during the change over.Transferred is not a bad thing; just a matter of fact in this case that the business sold out. So it won't hurt the scores, just that the duplicate reporting of negative information will. I am sure some may just have problems with dead tradelines not bieng updated to show zero balance / sold. Link to comment Share on other sites More sharing options...
laura66 Posted July 17, 2003 Report Share Posted July 17, 2003 Will my long credit history (20+ years) with Sears continue to show? Link to comment Share on other sites More sharing options...
kb9tbq Posted July 17, 2003 Report Share Posted July 17, 2003 If sears was a good tradeline you had, the reporting will continue 10 years from the last activity date when they sold over to Citi, but in this case hopefully Citi will default you to show the original open date and the history hopefully.Just time will tell in this matter, if they don't would be worth sending a letter to their company asking them if they can do this for you. Or even ahead of time vocing your concern in this matter. Link to comment Share on other sites More sharing options...
miwankiw Posted July 17, 2003 Report Share Posted July 17, 2003 Is there any "date" as to when this is scheduled to happen... I'd like to try to catch them during the moving time... I'd like to disoute about a week before the move and by the time Citibank gets to it, it would probably go over 30 days. Link to comment Share on other sites More sharing options...
md Posted July 17, 2003 Report Share Posted July 17, 2003 I think it will probably have little impact on disputing negatives on Sears tradelines as that information can just be verified by whoever is called by the CRA looking on the computer screen and saying, yep...that is correct.I think the real advantage would be with respect to having a CA collecting on behalf of Sears try and validate a debt. Link to comment Share on other sites More sharing options...
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