What do I do about Negative accounts that appear Twice in my credit report?

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So here is the story, Im trying to repair my credit report, I have some bad accounts and collections which i am taking care off now in an attempt to rebuild my credit, Ive been paying some, and disputing some, all that good stuff, but I have come around a couple of negative ( on collection or charged off) accounts that appear more than once on my credit report, how can I deal with this?, thanks for your time.

  1. Reply
    Julia H
    June 26, 2011 at 6:54 am

    File disputes with the credit bureau based on the fact that they appear to be duplicates.

    Contrary to what “bdancer” below says, a collection agency cannot, under the Fair Debt Collection Practices Act, report on an item that has already been notated on your report either as a chargeoff or in collections, nor can they re-age debts unless you have made a promise to pay or actually have paid on the debt. They CAN however, report once on a charged off debt. And it does not hurt to dispute based on that. It doesn’t hurt to dispute based on anything. If it did, no one would be disputing erroneous items on their credit reports. Piffle. Ever heard of zombie debt? That’s when accounts are sold off so often to other collection agencies, you can have a list an arm’s length long on your credit report, all originating from the same debt and it can happen for years. That’s why we have to be vigilant about monitoring our credit reports and correcting erroneous entries.

  2. Reply
    June 26, 2011 at 7:24 am

    One item is the original creditor’s reported charge off. It should show a 0 balance. The second listing will be the collection agency who currently owns the debt. That’s how it’s suppose to show.

    By the way, paying off derogatory items won’t improve your score. The damage is done and will remain for the balance of the 7 year reporting period, whether paid, unpaid, or settled. However, creditors review your whole credit report, not just the score. Paid old debt looks better.

    Be sure to get any settlement agreement in writing before you pay. Keep that agreement and your payment proof, forever. Do not give the collector direct access to you bank account.

    Disputing legitimate items is a bad idea. Even if something does fall thru the crack and is removed, it is very likely to show back up when the creditor next updates or the debt sold to another collection agency.

    To rehab your credit you will need at least 24 months of consistent, on time payment history to see any improvement in uour score. If you don’t have an open line of credit, get one, even if you have to get a secured credit card. Use the card and pay in full every month.

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