Debt sold on..now two entries on credit file for same loan?
Date: Thu, 02/18/2010 - 02:23
Hi all,
Am not sure if i have posted on the right forums but will give it a go.
I am asking a question for my partner who had a loan with GE money. He was made reduntant last year and missed two payments. As a result they sold the debt on to another company. The credit file for the loan with GE money however does not show as settled as is therefore affecting his credit rating. Is he in his rights to write to them to ask them to show it as settled as there is now a separate entry on his credit file for the same loan with the new company?
Am not sure if i have posted on the right forums but will give it a go.
I am asking a question for my partner who had a loan with GE money. He was made reduntant last year and missed two payments. As a result they sold the debt on to another company. The credit file for the loan with GE money however does not show as settled as is therefore affecting his credit rating. Is he in his rights to write to them to ask them to show it as settled as there is now a separate entry on his credit file for the same loan with the new company?
Quote:Originally Posted by Fair AbigailHi all, Am not sure if i
Quote:
Originally Posted by Fair Abigail Hi all, Am not sure if i have posted on the right forums but will give it a go. I am asking a question for my partner who had a loan with GE money. He was made reduntant last year and missed two payments. As a result they sold the debt on to another company. The credit file for the loan with GE money however does not show as settled as is therefore affecting his credit rating. Is he in his rights to write to them to ask them to show it as settled as there is now a separate entry on his credit file for the same loan with the new company? |
it sounds like he never resolved this debt ? am i right ? if he hasnt and the debt has been sold this is a great thing, meaning the debt has been sold ON A AVERAGE OF 5 cents on the dollar, now you are dealing with a purchaser which purchased for that amount.
NOW you need to settle it for an amount close to what they have purchased at. 10% would be AWESOME but more likely 30 cents and below, sometimes payments can come into play.
hope i can help
