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Charge Off/Collection Fraudulent debt lingers

Date: Thu, 11/09/2006 - 18:43

Submitted by anonymous
on Thu, 11/09/2006 - 18:43

Posts: 202330 Credits: [Donate]

Total Replies: 2


Hello Guys, Your site is great. I have a problem. I wonder can you guys advise me. I had a charge card account with Banana Republic. I was disputing a charge on the card but before it was resolved, they sold the debt to Arrow Financial. As no-one could produce proof of my credit card purchase, Arrow Financial dropped the pursuit of the debt. However, on my credit report Banana Republic through GEMB still has a "charge off/collection/derogatory" notice on the debt which is listed as sold. GEMB/Banana say that the account is sold and won't help and Arrow Financial say they're not reporting on my credit so it's not their concern. Any experience on how I can get a "charge off/collection" sold account on my credit report off my record given that the creditors are saying it's nothing to do with them now. Thanks, Sid


Sid,
You did very well getting the collection agency off your back. But, the original creditors derogatory reporting of your account will abide according to the length of time outined by the credit reporting agency(s).

However, you can dispute this reporting with the three credit reporting agencies, i.e, Experian, TransUnion, & Equifax. I would do this online.

Order you free online credit report from each agency if you haven't already & go from there to dispute is my recommendation.


lrhall41

Submitted by mzlizzy2006 on Thu, 11/09/2006 - 19:18

( Posts: 18 | Credits: )


The credit bureaus have to present accurate information in the consumers' files. If you are able to figure out any information that is disputed, contact the CRA reporting this item. Highlight it and request them to run an investigation with the information providers.

You may present proof from your side if you want to make the dispute more valid. The bureau will check with the creditor and do the exact reporting on your file. It may take 30 days to get the updated report at your mailing address.

Send your letters through certified mail and return receipt requested. This way, you'll have enough proof of the actions taken in resolving this dispute.


lrhall41

Submitted by ricjil on Fri, 11/10/2006 - 09:08

( Posts: 225 | Credits: )