If a creditor assigns or sells your account to a collection agency, it is possible that the creditor and collection agency will list the same debt on your credit report. Multiple negative listings for the same obligation can lower credit scores and make it more difficult to get approved for a personal loan, buy a car, or refinance a home. These duplicates are not legal. What should you do?
Correct Your Credit Report
Even if you pay the debt, the duplicates could still appear on your credit report. If you spot a duplicate entry, write and dispute the inaccurate listing on your credit report directly with the credit bureau.
Your dispute letter should include a copy of the report with the disputed item highlighted. Briefly state why this item is listed incorrectly. Attach any supporting documentation that will verify your claim. Send your letter to the credit bureau by certified mail with a return receipt so that you have proof your dispute was received. The bureaus have 30 days to respond to your dispute.
Take Action and Get Results
If you are struggling to correct errors on your credit report, seek the guidance of a qualified credit report law firm. Obtaining good advice to resolve credit reporting errors may help in reaching future financial goals.