Debtconsolidationcare.com - the USA consumer forum

an account is listed twice

Date: Tue, 06/13/2006 - 02:23

Submitted by anonymous
on Tue, 06/13/2006 - 02:23

Posts: 202330 Credits: [Donate]

Total Replies: 5


When a charged off credit card debt is sold to JDB/CA should the original creditor no longer be listed on your credit reports?

If not, then the same old credit card debt can be listed by the original creditor and the JDB, both?


Not sure, I have seen people talking on this topic several times, but the right solution is still unknown to me.

However, as the debt is charged-off and your creditor has sold it to JDB, the JDB has become the creditor. So I think both of them can report the account, provided, your original creditor reports it as charged-off, zero balance.

But, if the account is sold to another JDB in due course of time, then the new buyer cannot make a new entry.

Again there is a different opinion that says, once an account is declared charged-off and sold to collection, it should be reported as charged-off / collection. Hence no new entry is required. Unfortunately I have not been in such a situation, LOL. You can call the CRA and explain the situation to know the right process of reporting.

That was all from my part, hope someone else would offer more info.


lrhall41

Submitted by stella on Tue, 06/13/2006 - 04:55

( Posts: 488 | Credits: )


I had this same question on one of my accounts. I called the orginal company as I don't remember having an account with them to begin with. They were very helpful. It was an old telephone account I had that got sent to collections. Well the company being listed brought the other company out, but it's stills howing as the orginal comapny. They just told me to dispute the orginal company as a double entry.


lrhall41

Submitted by beli2005 on Wed, 02/11/2009 - 05:57

( Posts: 882 | Credits: )