Posts Tagged "original creditor"

“New” collection account will be deleted at the same time as original account

Dear Experian,

Is it legal for a collection agency to submit an account that they buy from a creditor as “new” even though that same account before it was purchased from the original creditor by the collection agency was two, three four years old? What can the consumer do to combat that practice in order to clear his or her credit?

– ALJ

Collection accounts may be for more than original debt

When an account has been purchased by another lender, or transferred to another lender, and the new lender starts collections on the account, can the “Credit limit/Original amount” that is been recovered be higher than the amount shown on the credit report? This amount has not changed from the original lender to the new one.

– CTR

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