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Few years ago I checked my credit report I saw an account opened in 2001. It was a balance was around $1000. I disputed the debt as not mine, but did not bother after that. Recently I saw that the dispute had been confirmed as the debt being mine. I have never had credit problems, but now I see that a collection agency is listed against the accounts, the year is 2005. My question is that the how can the same account be reported twice? If it was 2001 it is due to fall off by now. But because the collection agency mentions the year as 2005, can it stay longer?
Hi ben,
When you disputed the debt for the first time did the bureaus reply? As you have said that the debt has been confirmed as yours, you should have received some written proof in support of it. For instance, you should have received the original contract with your creditor or any payment details.
My question is that the how can the same account be reported twice?
The same account cannot be reported twice with different dates The SOL period of debt would begin from the date you first missed payments. For example, if you first missed payment in March 2001, your SOL period of the debt account would expire on
March 2008. The SOL period of the debt does not depend on the date it was passed to a CA.
You should dispute the debt by sending a <ahref>"Dispute Letter". The bureaus are required to your "Dispute Letter" within 30 days, after receiving your "Dispute Letter". You will also get a free copy of your credit report, after the debt account is removed and your credit records are updated.