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Is it legal for a debt to be reported twice? I mean the debt is reported by the credit card company and also by a debt collector causing my total debt amount to be much more than it should. I am currently disputing it them as a result. I also noticed that because some of them were reported both by the credit card company and the debt collector the credit limit was wrong and the debt reported was also wrong so I also used that ground to dispute. Out of 10 negative items on my credit report i'm disputing 8 of them because some are either 9 yrs old or reported several times or incorrectly.
Hi fout3
Yes disputing the debts is what you need to do. Some companies put wrong information on your report and this may affect your credit report. Disputing these wrong information should get them off your report and hence clean it up.
fout, Usually the time frame for reporting a debt is seven years. I had one and it fell off in the right amount of time. You did the right thing by disputing the debt with the agency. Now as for can two people report the same debt. Well yeas the original creditor can and will list the debt and also the most recent collector. It should show on your report that this is the same debt by who the lender was. Do not worry both do not count against you. I believe they list it that way so that you know who the most recent collection agency is.