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  1. #1
    Join Date
    Jan 2008
    Posts
    6

    Default Multiple Agencies Listing Same Debt

    I have an outstanding debt with a loan company. I am assuming the original company with whom I had the debt sold it to a collections agency, as they have contacted me (and I have made payments to them) regarding this debt.
    I looked at my credit report and both the original loan company and the collection agency are both showing this debt as active. So it appears that I have more outstanding debt than I actually do.
    Can I get the original company to mark as a charge-off without a "real" balance? or how does this work?

    Thanks in advance.

  2. #2
    Join Date
    Mar 2005
    Location
    Florida
    Posts
    435

    Default Re: Multiple Agencies Listing Same Debt

    they can both list the acct on your report, but if the account has been sold to the collection agency, then the original creditor tradeline should have a zero balance.

  3. #3
    Join Date
    Jan 2008
    Posts
    6

    Default Re: Multiple Agencies Listing Same Debt

    That's what I thought -- but they both show balances. Sorry I didn't word that correctly in my original post.

    Company #1 shows $500 balance
    Company #2 shows $300 balance (as I've made payments) So now it looks like I have 2 seperate debts of $800, when in reality it is one debt for $300.

  4. #4
    Join Date
    Jan 2008
    Posts
    6

    Default Re: Multiple Agencies Listing Same Debt - Updated

    I looked at my credit reports again this weekend and this is what I found

    Original Creditor is listing debt on one credit report
    Collection Agency listing debt on two credit reports.

    Both show balances due.

    This makes it seem like I have more outstanding debt than I do, correct? How do I go about getting one agency to list debt that I am responsible for? My understanding is that since the original creditor sold debt to collection agency they should remove balance due from credit report.

    Help!!

    Thanks!

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