Another Question
Date: Wed, 02/21/2007 - 13:26
I have noticed that on my CR's, the credit union that I had a loan on (yes I defaulted) is listed on there. Now here is the question. The credit union merged with another credit union and took the new name. On my CR is has the orignal credit union listed but under comments is says transfered. And there is now antoher entry for the "Merged" credit union there also that says closed/sold to collection agent. Can they list me like that? That means I have 2 entries for the exact same loan on my CR that is a negative.
Thoughts??
Thoughts??
Yes this is allowed as long as it meets fcra guidelines: 1. Old
Yes this is allowed as long as it meets fcra guidelines:
1. Old credit union shows transferred/sold.What is balance? It should be zero because they no longer have this loan.
2. New credit union It assumed your paper from old cu and then proceeded to sell you to collection agency.They should also show a balance of zero as they no longer hold paper on you.
What really blows is that this debt being sold means you have to deal with collectors to get it resolved.There is a sticky on fair credit reporting act at the top of this board here.It is about 90 pages.Very useful information that deals with the issues of credit reports.
