Multiple Agencies holding the same debt

[jamieg0224]

A few nights ago I purchased my credit report online from annualcreditreport.com. They show you Transunion, Equifax, and Experian. I saw that I have three different debts with two different agencies each. SO, instead of being listed on Transunion with one agency, the exact same debt is listed with Equifax under a completely different agency. Now, I followed up by calling the agency listed on Transunion(Leading Recovery). They said that they had my name and account number listed, but the amount was not showing, so they said there was nothing they could do to remove it. They suggested I call the bank that the debt was with. So, I did. They have since switched hands and said they did not know who Leading Recovery was... nor did they know how they had the debt. They suggested I call their recovery agency. This was fruitless. So I called back to Leading Recovery and they said that I would have to show the debt has been paid with another agency and then fax it to Transunion.

Does Transunion have a responsibility to remove it from there if it has been transferred to another creditor?

Another question: Do all of the listings on my report that state "transferred to another lender" affect my credit score? Can they be removed?

Thank you for your time!

Jamie

[Mr. Knowitall]

Is the problem that the debt is reflected more than once, or that the debt is reflected once but with the wrong collection agency? You can ask the credit reporting agency to verify the debt and correct any error, but if the only difference will be a change in the collection agency associated with the debt I doubt that there would be any effect on your score.

The simple transfer of a debt between lenders shouldn't affect your credit rating. Credit reporting agencies don't have to remove accurate information from a credit report, and thus normally will not do so.

[lwpat]

You do not have to purchase your credit report. You are entitled to one free per year from each agency.

[aaron]

I believe he means he purchased his credit score. Annualcreditreport.com is the official site to get your free credit report from the three major credit reporting agencies, but they will try to sell you your score (and the presentation is a bit confusing, so some people may mistakenly believe they have to pay that fee to get their report).

[jamieg0224]

I believe he means he purchased his credit score. Annualcreditreport.com is the official site to get your free credit report from the three major credit reporting agencies, but they will try to sell you your score (and the presentation is a bit confusing, so some people may mistakenly believe they have to pay that fee to get their report).

No, I know that I am entitled to the one free one, but I have already exhausted that, so I did purchase them and the score. I was curious to know the score.

[jamieg0224]

Is the problem that the debt is reflected more than once, or that the debt is reflected once but with the wrong collection agency? You can ask the credit reporting agency to verify the debt and correct any error, but if the only difference will be a change in the collection agency associated with the debt I doubt that there would be any effect on your score.

The simple transfer of a debt between lenders shouldn't affect your credit rating. Credit reporting agencies don't have to remove accurate information from a credit report, and thus normally will not do so.

The problem is that the same debt is reflected more than once with two separate agencies. I realize that they dont have to remove accurate info. The debt is accurate but it is listed twice with two seperate agencies.
I was just wondering if I paid it off through one agency, if the other agency would remove it, since it is already paid.

[jamieg0224]

I think I may have been confusing. To be more specific, I have a debt of 334.00 with a bank. I just finished paying it off with RJM LLC. The debt of 334 is listed on Transunion with Leading Edge recovery agency.
On Experian, it is listed as 334 with RJM LLC. So, it is the same debt listed with these two different places. Is it hurting my credit score even more that the debt is on both transunion and experian with two different agencies?

If so, what can I do? I already disputed it with Transunion. Not sure what they will do, or if they have to take it off at all.

[Mr. Knowitall]

If you dispute the debt with a collection agency, they are supposed to verify the debt with the original creditor.

If you paid off the debt through the collection agency (RJM LLC), they should correct your balance accordingly. If you paid off a $334 debt and you still show a balance due of $334, they should correct that.

If you wish to resolve the problem with Leading Edge, as previously indicated (assuming RJM LLC did its job correctly) they should verify the debt with the original creditor, who should indicate that the debt has been paid. But if you paid the debt through RJM LLC, it may be worth trying Leading Edge's suggestion that you submit proof of that payment to TransUnion to get the Leading Edge entry removed.

From what you have said, I don't like the way Leading Edge does business, and would encourage them to brush up on the law.

[GreatGadsby]

you don't have to give Leading Edge prrof of anything. dispute the tradeline with TransUnion. when they contact Leading Edge, they are legally obligated to remove the TL seeing as they are no longer contracted to collect this particular debt. if they verify the tradeline is accurate then you have cause to sue under the FCRA. they have to prove that you owe the debt, you don't have to prove that you don't.