Credit Report Question

by Myriam
(San Antonio, Texas USA)

I was looking at my credit report and I see that there are 2 debts regarding the same account. In the potentially negative items area in my Experian credit report I see that one store credit card debt is being considered one by the actual Store and then by a Asset Acceptance. If I want to pay this off, who do I pay off to? Am I being charged double? The same goes for 1 credit card that I had.

Another question if the store credit card states that the account was opened in 2003 and Asset Acceptance claims it was opened in 2008, then do the 7 years start all over again?

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Nov 15, 2010

Two collection accounts for the same debt
by: Gerri

Miriam,

Your experience is not unusual. Generally the original creditor will list your account as a charge-off but the balance should be zero on that account. If it is not, be sure to dispute the error.

In most cases, once the account has been sent to collections the original creditor will no longer take payment. However, that's not always the case so you can feel free to ask if you want.

Keep in mind that paying a collection account does not improve your credit scores but it can help you avoid a lawsuit and a possible judgment on your credit reports.

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