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Sherman/Alegis and Fraud reporting


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Recently I checked my credit report to find out that an account, which I previously agreed to pay off with Citibank Credit cards, was being reported as


Account No.: XXXXXXX**** Type: Credit Card Payment:

Date Opened: 06/22/1999 Balance: $2133 Terms:

Date Reported: 07/06/2004 High Balance: Limit: $1700

Past Due: $556 Condition: Derogatory Responsibility: Individual

Status: Collection/Chargeoff

Remarks: Charged off as bad debt

Canceled by credit grantor

Two Year Payment History:

None Reported

Seven Year Payment History:

30 Days Late: 60 Days Late: 90 Days Late:---

Now when I called Citicards, and enquired about this account, I was told that they didn't have any information on it anymore and that it was given over to Alegis or Sherman Acquisitions. But notice that on my credit report, the account was being reported BY CITIBANK.

When I contacted Alegis/Sherman, they told me that this should be dropping off my credit report and that it shouldn't be reported as a collection. This agency originally purchased this account 2 weeks after I received a contract from Citi to settle this account and have it reported satifactory on my credit report. I even faxed them a copy of this contract as well as sent a debt validation letter in which they never responded but later agreed to remove this account.

They told me that I should dispute this with the credit bureaus and that they aren't reporting it on my report since Citibank's name is there. However Citi claims that this account isn't theirs anymore and that it belongs to Alegis/Sherman.

I went ahead with the dispute and I am awaiting results. Somebody seems to be playing games here because Citi wants to claim that this doesn't belong to them while Alegis wants to say, yes we have the account but since it is being reported by Citi, it's their problem. If anybody has anymore advice please let me know. I am currently disputing this via the CRA's.


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