Yes. There are no laws stating that any creditor has to report to any more than one credit bureau (and the creditor is allowed to choose which one to report to).
Yes, they can report you for any amount they are owed.
The original creditor either sells the debt to a collection agency or the collection agency may aquire the debt on a contingency basis. At any rate once the account is in collections 30 days from the date of turn over the collection agency has the right to report the account to the credit bureau. Accounts are sent to the credit bureau via internet with encrypted files.
That depends on what you mean by "can't find or locate a creditor". If you get a copy of each of your credit reports, they will list the contact information for each of the creditors that are reporting any type of information about you on your credit report. if you cannot get a response from the creditor after locating their contact information on your credit report, then you may want to "dispute" the information with the credit bureau that is reporting the information. Simply write a letter to the credit bureau stating that the information being reported on XYZ account is not accurate. Please remove this information from my credit file. The bureau will contact the reporting creditor...if the creditor does not respond within a timely fashion, the information will be removed from your credit file.
A collection agency can report you to the credit bureau for any amount of money. There are agencies that will report for amounts under a hundred dollars.
There are 2 ways to remove a collection off your credit report. Either by the original creditor or by the credit bureau. The creditor will most likely not help you unless it was negotiated before you paid them off. You can dispute the debt to the credit bureaus and they must investigate it. If it isn't verified with in 30 days it will be removed from your credit report.
If the debt was properly assigned by the original creditor, yes. If you are making payments to the Original creditor than ask them to pull it back from there Collection agency, then dispute with the CRA's and when they update it should delete
Hard to say. Disputing the collection after you pay off the creditor could still come back as 'verified' from the credit bureaus simply because the collection did happen. If the collection agency does not respond to the credit bureau's query, then the entry will be removed.
Unless you can prove that the bureau singled you out in order to ruin your reputation as a borrower (which is highly improbable no matter how you feel about the bureaus) you cannot sue the credit bureau. You can, however, request that incorrect information be removed from your record. If the creditor that you feel is fraudulent cannot provide records to prove that you are behind or have the account, the credit bureau will remove the item from your report... If you do feel singled out by one particular bureau and want to obtain credit, then ask the to-be-creditor to check your report from a different bureau and not from the one you feel has fraudulent information. They might concede with your request if they feel the situation is extreme enough...
Yes, they can. However, most don't provided you make a payment agreement with them and honor it until the bill is paid in full.
You would have to be a client/contributing member of the bureau to report information.
You must pay all of your legitimate debts. A creditor is not required to report a debt to a credit bureau in order to collect the debt you owe.
Contact the credit bureau where the false information has been filed ie: Experian, TransUnion, ect. If you dispute the debt with them and the creditor can not prove its your debt they have to remove the debt from your report.
It means that the particular item on the credit report has insufficient reporting information from the creditor and therefore cannot be rated at that particular time. IUR might stand for Information un-rated. This could apply to a new account or an account that does not report information to the particular credit bureau.
Information only comes off the credit report when the original creditor who reported the information requests the credit bureau to remove it, or if the credit bureau removes it after they have made the attempt to contact the creditor to request them to remove it and the creditor fails to respond. If the creditor cannot be located which is another way they may fail to respond, the credit bureau may remove it after a period of time. In all cases, you the consumer must initiate the process to contest the information in writing. Because the credit bureau customers are the creditors and not you, the credit bureau will only make changes when their customers (the creditors) ask them to. The creditors all pay annual fees to the credit bureaus to be a member and have the ability to put payment history information into your credit file. That's why the consumer must contest the information, then force the credit bureaus to validate and confirm the information with their customer first, then take the appropriate action once they get a response or fail to get a response.
== == Call that creditor and request for them to report your information with all three bureaus. Be aware that not all creditors will do this, but it does not hurt to try.
This depends only if the creditor originally reported your account to your credit report.
IT IS NOT ILEGAL FOR ANYONE TO HAVE A DEBT SHOW UP TWICE ON THEIR CREDIT REPORT. THE BEST THING TO DO IS CALL THE CREDITOR OR COLLECTION AGENCY THAT THIS DEBT IS UNDER AND HAVE THEM REMOVE THE EXTRA INFORMATION OFF OF YOUR CREDIT REPORT. ASK THEM TO REPORT IT TO THE BUREAUS IN ORDER FOR THIS TO BE RESOLVED.
A 3 bureau credit report has many benefits. A 3 bureau credit report can protect you from credit fraud by giving you quick access to all of your credit accounts. Another benefit of a 3 bureau credit report is that by getting information on your credit from 3 different bureaus insures no important information is left out.
If you're having problems with a credit bureau, then you're not alone. Each year, millions of people are inconvenienced by mistakes in their credit report. f you've already contacted the credit bureau about your problem and didn't get it taken care of, then you can still call the creditor who reported the information. By letting the creditor know that they've made a mistake, you may be able to get them to send in a corrected copy of your document. Be sure to tell the creditor how you've been inconvenienced, and if that doesn't work, then remind them of your rights.
Perhaps. Collection agencies are governed by state laws. You may be able to find out if they can take such action by consulting the creditor/debtor laws of your state. Sorry, but more specific information is not possible w/o knowing the state of residency.
Until you pay your debt or file bankruptcy.
Consumers (although some do not realize it) authorize the creditor and agencies and legal representatives acting on the creditor's behalf to access their credit report when they sign the original account agreement. It is perfectly legal and there is nothing the debtor can do to prevent the action.