Charge-off and collection agency both reporting
Date: Wed, 12/30/2009 - 22:05
Hi. I'm a little confused about something I read on here and would appreciate some clarification. I thought I read that it is illegal for a original creditor to show a charge-off on your credit report once they have sold the debt to a collection agency. Is this true?
The reason I ask is I have been going through my credit reports and trying to repair the damage I've done. Speficially, I have a Chase credit card account for 11K that went unpaid and was charged off. My fault. It was sold to Unifund whom I have now paid in full. Unifund is reporting it as PAID AS AGREED to all three bureaus. However, all three bureaus still show the original charge-off from Chase which is about three years old.
Question: Am I in my rights to dispute this with the bureaus and have them remove it? Is this considered "double-dipping"? That's what I read on here.
Thanks to everyone. I have had huge success in improving my credit reports. More on that later...
The reason I ask is I have been going through my credit reports and trying to repair the damage I've done. Speficially, I have a Chase credit card account for 11K that went unpaid and was charged off. My fault. It was sold to Unifund whom I have now paid in full. Unifund is reporting it as PAID AS AGREED to all three bureaus. However, all three bureaus still show the original charge-off from Chase which is about three years old.
Question: Am I in my rights to dispute this with the bureaus and have them remove it? Is this considered "double-dipping"? That's what I read on here.
Thanks to everyone. I have had huge success in improving my credit reports. More on that later...
Well, the credit reporting agencies are right about showing the
Well, the credit reporting agencies are right about showing the account twice. The account would get reported both by the original creditor and the collection agency who have now acquired the debt.
Actually, that's what I thought, but then I read something in th
Actually, that's what I thought, but then I read something in this forum that contradicted that. I appreciate your response. Does anyone else have experience in this area? Thanks to all, and Happy New Year.
