Duplicate debt

Post reply Start a topic

Author

Message

Options

	Print this topic
	Invite a friend
	Email this topic

Bookmark online

	Add to del.icio.us
	Add to YahooMyWeb

wendel34

Joined: 29 Sep 2008
wendel34's page
Posts: 12
Location: Pensylvania

294 Magic Points

Subject: Duplicate debt

Fri Sep 25, 2009 1:22 am

I have a debt through a bank that i defaulted on. The bank merged with another bank. I am in the process of paying off this debt but on my CR it shows both accounts.

Account #1 is listed as transfered to another agency.

Account #2 is in active collection.

Does Account #1 effect my Credit Score?

Can i have account #1 removed?

goodnatured

Joined: 03 Nov 2007
goodnatured's page
Posts: 3927

10 Magic Points

Fri Sep 25, 2009 2:04 am

Wendel,

These entries will only count as one debt, does not matter how many times it is listed and it does not matter how many collection agencies buy it out, it will count as one.

The last entry, the one that you are probably working with to pay it off is the one that will count. Once it is paid off they will update it as paid in full but it will always stay in the negative. I paid off 4 debts and it did not do me any good, they stayed in the negative, I have to wait for them to fall of through time.

see if they will let you pay for a delete, while it is still fresh you may be able to do that.

Negatives always affect your score and your ability to get future credit.

Hope this helps. goodluck

Quick Reply

Your Name

Subject

Message body


Page 1 of 1

Home|Contact Us|Terms of Services|Privacy Policy|RSS

* Disclosures:

Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.