A trade line on your credit report provides certain standard items of information about an account you have, such as the name of the company ( say a department store, for example), the companys address, the account number, the current balance free score Knoxville on the account, the terms of the credit, and so forth.
Any of this information could in fact turn out to be incorrect, but the item of information we will address in this article is that definite and critical identifier for the CRAs, the account number.
One would free score Knoxville think that such a mundane piece of free score Knoxville information as an account number couldnt possibly cause that much trouble, and in a sense that is true. What actually causes the problem is when the account number for the same account gets changed, and sometimes morphed repeatedly, so that the identity of the actual account is greatly obscured. When this is allowed to happen, the CRAs super computers, employing simple logic but lacking intelligence, assume that an account is the same, or a match, when it has the same account number, and that it is different when it free score Knoxville does not. Therein can lie the source of much headache, aggravation and damages free score Knoxville for a consumer, and much denial of free score Knoxville responsibility from the CRAs. free credit annual report Let us say that Consumer An is receiving bills for a .00 balance on a department store free score Knoxville credit card.
Consumer A never applied for such a card and therefore the debt free score Knoxville cannot be his. He suspects someone free score Knoxville stole his identity and opened the account free score Knoxville using his social security number and other private information.
After numerous phone calls and letters back and forth, the department store agrees that it is not Consumer As debt after all and tells Consumer A not to worry about it, that theyll take care of it.
Naturally, Consumer An is now relieved and assumes that it will be taken care of, i..e., they will stop billing him for free score Knoxville the invalid debt and it will be deleted from his credit report. The account number, by the way let us say it is 1234567890 and that is the way the CRAs are reporting it on Consumer As credit reports. credit report for free without credit card Consumer A notifies the CRAs by certified mail of free score Knoxville the situation, along with documentation, and they all delete the previously reported trade line within a month.
]] About four months go by and Consumer An free score Knoxville is dismayed to receive in the mail a letter from a Debt Collection Company named Pit Bull.
Pit Bull, in its free score Knoxville letter, states that it is collecting a debt on behalf of the department store (the same one that earlier told Consumer A not to worry about it, that they would take care of it free score Knoxville and delete it fromhis credit report.) Pit Bull shows the debt now as , having free score Knoxville tacked on a penalty and a default charge or attorneys fees), but informs Consumer A that, although he owes immediately the full amount of , they will take free score Knoxville as a full payment.
They cant guarantee Consumer A that the department store will reinstate him in good graces vis-à-vis his credit card (the one that was neer his in the first place) but if he pays them the at least they free score Knoxville will stop dunning him. The account number on the letter is now 123DEPTSTRE890. A few months later Pit Bull furnishes the account 1234567890 as 123DEPTSTRE890 to the CRAs, showing the account as a charge off, amount , and a note that the trade line will be reported for the next seven years! trw credit report He calls the department store and reiterates his story that free score Knoxville the department store had earlier investigated, agreed free score Knoxville with him that he did not owe the debt and that they would take care of it for him. These words come back to haunt Consumer An as the representative now tells him that free score Knoxville they are sorry, the account is now free score Knoxville with collections, and that they cannot interfere as it is now out of their free score Knoxville hands.
Consumer An also tries to clarify the situation with Pit Bull but, other than being cursed at and told to free score Knoxville pay the damn bill, he gets nowhere.
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