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I pulled my report from all the 3 credit reporting agencies recently. My scores vary with all of them I had a credit card account opened in 2001 which is reported to have passed to collections. Both Experian and Equifax have different CAs listed for the same account. There are also several 30, 60, 90, 180 day late payments recorded, I contacted the OC but he said it was sold long back, Shall I send a verification request to both CAs? My credit score is very low, a median score of 550. Can anyone give some tips to improve my score?
Hi Matthews,
It is possible that the account has been sold off to various collection agencies ( CA). Either Experian or Equifax has not updated the records. I would suggest that you send a "Debt Validation" letter to both the CAs.
At the same time you can dispute the debt account with both the credit bureaus. You will find a sample "Dispute Letter" in the Letters of Credit section. It is likely that while both the bureaus investigate, one will either pull the debt account off your credit report or update the records. There is good chance that the one which remains on your report, has your debt account with them.
You will also come to know, to which collection agency, you actually owe the debt, when they reply to your "Debt Validation Letter". The CA who is able to validate the debt (supporting it with valid paperwork), is entitled to receive the payments.
Hope i have helped. :lol:
All the 3 reports vary
Hi Matthews,
There are also several 30, 60, 90, 180 day late payments recorded
These are records of the past missed payments. I think after you have missed payments continuously for 180 days, the original creditor has sold off the account to the collection agency. Do you have a "charge-off" listed on your credit report?
Hi Matthews,
Your reports from all the 3 credit reporting agencies, varies because not all creditors report to the same bureau. After you come to know, to which collection agency you actually owe the debt, you should try to pay off the debt. Paying off the debt will not remove the negative remark, but will have a positive impact on your credit records. Often creditors, while giving you credit consider the fact that you have tried to repay, after going through a rough patch. To improve your credit score you will have to make timely payments for all your current bills.