Regarding reposting of credit information
Date: Wed, 10/25/2006 - 13:20
I had a card a while ago with FIRST PREMIER BANK that was charged off on in Aug 2001 and shows a last reported date of 12/2003 on my credit report. I was chacking my CR and I noticed the following entry from ARROW FINANCIAL SERVICE:
Date Opened:
10/2003
Date of Status:
04/2004
Reported Since:
03/2004
Last Reported Date:
08/2006
my question is, if a company sells off your account to another company and they start reporting to the CRs does the first company have to remove their entry? It seems strange that I should have 2 different companies reporting to the CRs on the same account.
Date Opened:
10/2003
Date of Status:
04/2004
Reported Since:
03/2004
Last Reported Date:
08/2006
my question is, if a company sells off your account to another company and they start reporting to the CRs does the first company have to remove their entry? It seems strange that I should have 2 different companies reporting to the CRs on the same account.
The original company will mark a zero balance on the account aft
The original company will mark a zero balance on the account after they sell it off to some collection agency. The latter one will become the current creditor and will have the balance with them. The original creditor will also appear in your file.
dispute the original negative listing. more than likely, since
dispute the original negative listing. more than likely, since FP sold it to arrow, they wont even respond to the dispute and the item will likely come off.
creditors can sell your account. they cannot sell it to reage a negative account and keep it on longer.
