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bomtrader
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So my experian listing shows my Amex collection account as:

Charge Off/Collection/Bankruptcy. What's the deal with that?

My equifax shows just collection. I never received a letter warning me that my account was going into collections before it was listed on the reports. Is there anything I can do?

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Your question might best be answered in the Credit Report section.

That said, I dont' believe a creditor is "required" to notify you before sending an account to "collections" and/or before supplying that information to the bureaus.

Frankly, it looks to me as if you are simply dealing with differences between how each bureau reflects the same data or perhaps even just a "timing" issue..I suspect that the account WAS charged off and is now in collection and that probably given a little bit of time both bureaus will reflect essentially the same info. Remember, a creditor isn't "reauired" to report to any bureau if they don't want to and not all creditors report to all bureaus.

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That said, I dont' believe a creditor is "required" to notify you before sending an account to "collections" and/or before supplying that information to the bureaus.

I hate to disagree with you, but

§ 1681s–2(7) Negative information

(A) Notice to consumer required

(i) In general If any financial institution that extends credit and regularly and in the ordinary course of business furnishes information to a consumer reporting agency described in section 1681a (p) of this title furnishes negative information to such an agency regarding credit extended to a customer, the financial institution shall provide a notice of such furnishing of negative information, in writing, to the customer.

I'd send a letter of dispute to Amex. Ask them for copies of the notice they sent to you of their intent to place negative items on a credit report.

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You need to wait until a minimum of 35 days has lapsed. As you must know, in California, anyone who places negative info on someone's CR, must notify the consumer, in writing, within 30 days before or after, entry is made. Many creditors assume that when you sign the agreements, which will contain a generic wording about this, they are protected. Not true. But, if they state so on each monthly statement, then it is legal. Now, some argument has come up that even the monthly is not sufficient, as it does not directly state that something is being reported as a negative, but, I have heard nothing as to if this will stand. The particular law is California civil Code 1785.26(B).

This is why I say to wait 35 days minimum. The CRA's do not report the exact date, only month and year. By waiting, you have allowed more than 30 days plus mail to assure one has not been sent. If you send a letter now, they could easily forge one and you have no leg to stand on.

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