Author Topic: Asset and factoring?  (Read 712 times)

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Asset and factoring?
« on: April 22, 2011 06:36:52 PM »
I see an Asset listing on a credit report and it shows the type of loan as Factoring Company Account. In remarks - disputed by consumer. Date placed for collection - 12/08. The item will be removed - 9/13.  It also says "open account".

The original creditor shows the status as charged off as bad debt. Closed 5/07. Remarks - purchased by another lender.

Is Asset's listing legal?


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Re: Asset and factoring?
« Reply #1 on: April 22, 2011 06:58:03 PM »
I don't think listing it as an open account is not legal ( I may be wrong)

but to make it actionable you will need to do some work,

dispute with the CRA's ..

if it comes back as verified, you will need to write them and pointing whatever is not accurate