Question about credit report

Hi everyone. I am very glad to have found this site. I apologize for the length of the post but like to be thorough.

I am currently working with a local bank in an attempt to purchase a home. The bank has been great and very helpful in getting me on the right track in cleaning up my credit report.

I had never pulled my credit report before, and with the help from the bank have been able to clear up 4 accounts out of 17 on my report in the last week.

I am going to start making calls on the remainder to try to straighten everything out. However, I have some questions based on threads in this forum.

I had an old Fingerhut account that is showing up under 'Jeffersncpfingerhut' with a balance of $417 and a last active date of 5/01. However, this same account is appearing under 'Island National Group' but with a balance of $494. How can the same debt be listed twice?

Next, I had an Orchard Bank credit card account from 2003 that was transferred to RJM Acquisitions. The balance on this is $415.

Both of these accounts had a very low credit limit ($200/$250) so a large part of the balances is fees/finance charges. After googling these two collection agencies, and finding many entries on RipOff Report, I am a little hesitant to contact them. Would it be better to send the verification letter or to call them to try for a settlement?

There are also 3 accounts on my TransUnion report that are scheduled for removal in 10/07. Would it be better to concentrate available funds on the newer accounts or should I pay these off? They are also old credit card accounts that have been charged off.

Do you recommend consolidating these accounts, working with a credit counselor for payment arrangements or should I just keep plugging away and pay as much as I can every month? Would working with a credit counselor make a difference on how these accounts are reported to the credit bureaus? And will it improve my credit score faster?

The bank is going to help me with the letter and mailings to the credit bureaus after I get these cleaned up; the loan officer is estimating that it will be 6 months before my credit report and score results are sufficient to purchase a home. That is fine with me, but any suggestions you may have to get everything done in the most time-efficient manner are much appreciated.

Thanks in advance for the help and advice.

An account can be reported by the creditor as well as the CA. But two CAs cannot report for the same balance. You have to dispute the item with the CRA and get that company removed that is wrongly reporting on your file. Be aware of the last payment date on the account. If you haven't paid within the SOL period of your state, the CA cannot sue you in the court. One small payment can renew the SOL from the beginning.

Get the debt validated by RJM Acquisitions to be certain that they are authorized to collect on your file and they have the rights to report on your credit.

Concentrate on those accounts that have a longer duration of reporting. The items that are close to be removed from your credit copy should not bother you much at this time. You might like to pay those debts that have a longer reporting period and if they are within the SOL period, you may want to pay them and avoid any possible legal actions

In my opinion debt validation letter is your best defense. Send it to RJM and ask them to validate it. RJM should inform you in writing about the
The name of the original creditor to whom you owe the debt
The amount of the debt you owe
They should also provide you
A copy of the agreement between the collection agency and the creditor that proves that they actually owe the debt
Proof that the Statute of Limitations has not expired on the account
Proof that the collection agency is licensed to collect in your state
The license numbers and Registered Agent
Asking for validation of your debt is your right. Exercise your rights.

Take care
Nelly