Skip to main content

How does a Collection Agency not have my information?

San Diego, CA |

Supposedly I owed US BANK $681.00 from 2005. I saw on my credit report that on 11/01/2012 a collection agency had reported 2 opened accounts (1 of the accounts was for $681 and the other was for $781.00). I called the collection agency and they said the $781.00 was interest from 2005 until 2012. The collection agency did not have any of my 4 previous addresses or any phone number to contact me so they reported it to the credit bureaus. How can US BANK turn the account over to this collection agency and not give them an address or phone number? Also, the 2 accounts in collection are for the same (original) US BANK account. I thought they could only report it to the bureaus 1 time. Why did it get reported twice. I disputed it because I didn't know what it was before I called the CA.

+ Read More

Attorney answers 2

Best Answer
Posted

The Statute of Limitations is probably no more than 4 years. If so, they cannot successfully sue you. However, they can report the account to the credit reporting agencies for 7 years. If you pay anything, even 10 cents, the Statute of Limitations starts anew.

If you are concerned about your credit, you should get a copy of your credit reports from each of the three agencies and then meet with an attorney who is knowledgeable in the area of credit reporting. Did US Bank report the account(s) or did the collection agency?

You can dispute the reporting with the credit reporting agencies involved. In order to set up a lawsuit for any credit damage, you should have an attorney assist you in communicating with the credit reporting agencies and with the debt collector.

Asker

Posted

The collection agency reported the accounts. I had a debt validation letter sent to me yesterday but will not receive it until 14 Jan at the earliest. The CA and I made a verbal agreement over the phone (I believe it was recorded) that if I paid he full amount of debts owed, no matter how long it takes, that the CA would remove th accounts from all 3 credit bureaus. Is this verbal agreement a legal binding in case the CA does not remove the accounts from my credit report(s)?

Richard Scott Lysle

Richard Scott Lysle

Posted

Under some circumstances a promise to pay may start the Statute of Limitations (for litigation purposes) and the reporting period to start anew. It is much better to have a settlement agreement in the form of a signed writing rather than a recorded telephone call. In California it is a crime to record a telephone call without the knowledge and consent of the other party. Did you record the conversation? Also, if you have a future problem with the credit reporting, a copy of a signed agreement can be sent to the credit reporting agency. A tape recording is not likely to be of use in such a circumstance.

Posted

Unfortunately the information between the original creditor and the collection company it was turned over to is not always coordinated properly. The debt may have been sold to the collection company and all of your contact information may not have been reported.

From my understanding the accounts can be reported in this manner since the report from the collection account is not treated as duplicate account but a continuation of the original account. The original account should state charged off and shouldn't be treated as an active debt.

Norma Nodal Duenas

Norma Nodal Duenas

Posted

If in fact it is only one account you have open and they show two active accounts that are being reported then you should dispute it. In one account shows as transferred or sold then that account is not treated as active.

Asker

Posted

This is the first time this debt was ever on my credit report. The original creditor debt was from 2005.

Asker

Posted

The original creditor debt was never reported to any bureaus. I did not receive any mail/phone calls that I had an amount due, ever.