Your first step should be to send a letter to the credit reporting agency disputing the debt. They will generate an inquiry to the creditor who is supposed to verify the debt. If they don't correct the report, I suggest you visit a local NACA attorney. You can find one by looking at www.NACA.net and selecting the FIND AN ATTORNEY tab at the top. Good luck!
Call me for a free consultation at 727-712-3333, or visit me at www.TampaConsumerLawyer.com
You send a demand letter to both the credit reporting agency and the company that is reporting you adversarial. You would have a cause of action, if you apply for credit and this debt cause your credit to be denied or they offer less favorable terms.
As stated above, you should visit with a qualified consumer attorney in your area. A NACA lawyer is an even better option.