old credit card balance different on all CA reports
Date: Wed, 07/22/2009 - 01:58
I have a question about old credit card reported on my credit reports. How and why can a balance be different every where it is reported? Should this debt be removed from my credit reports?
This old debt was once Bank A, then it was owned by Bank B, and now Bank C reports it as sold.
Bank C is the only bank reporting the credit card. The other two banks are no longer reporting. A debt buyer reports the debt, too.
Bank C reports a different balance to each credit agency. The debt buyer reports different balances to each credit agency, too.
Example of debt reported by Bank C
Trans Union $2345
Equifax $2458
Experian $2399
Example of Debt reported by Debt Buyer
Trans Union $6578
Equifax $6601
Experian $6589
This old debt was once Bank A, then it was owned by Bank B, and now Bank C reports it as sold.
Bank C is the only bank reporting the credit card. The other two banks are no longer reporting. A debt buyer reports the debt, too.
Bank C reports a different balance to each credit agency. The debt buyer reports different balances to each credit agency, too.
Example of debt reported by Bank C
Trans Union $2345
Equifax $2458
Experian $2399
Example of Debt reported by Debt Buyer
Trans Union $6578
Equifax $6601
Experian $6589
Since there is a vast difference between the two debt amounts, I
Since there is a vast difference between the two debt amounts, I think you should immediately ask for debt validation from the debt buyers. At the same time you may send dispute letters to the bureaus. As per the FCRA, both the creditors and the CAs are required to remove incorrect information from your credit report.
Vast difference? No....not really. Could be just the dfference
Vast difference? No....not really. Could be just the dfference in reporting cycles and when they update the interest. Some may report monthly, some quarertly.
It seems to me that Equifax is the most difficult Credit Agency
It seems to me that Equifax is the most difficult Credit Agency to deal with.
