Jump to content

double reporting on same debit


poorenTX
 Share

Recommended Posts

can 2 or more creditors give you a bad report on the same debit?

Thanks bunches!

On one debt, there may be an Original Creditor (OC) and a Collection Agency (CA) or Collection Agencies. Yes, both the OC and CA's may list the same bad debt. The OC must report it (the debt) with a ZERO balance. The CA may report with a dollar amount, but with the same Date of Last Activity (DoLA) as the OC.

The experts here, may provide a better explanation!

Link to comment
Share on other sites

Yes, the OC and a CA/JDB can both report the same debt. The difference lies with the situation.

The OC, when assigning a debt, continues to show a balance, usually the amount noted as assigned. If the debt is now owned by a JDB, then the OC must show zero, and the notation that the debt has been sold or transferred to another.

If your problem involves two CA's, then you must send a dispute to the CRA's. Why is because if one has reassigned or sold the debt, they no longer have the debt, therefore, cannot verify. Then, if they verified, you have them in violation.

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.