Legal Question in Credit and Debt Law in Maryland
Credit Issues
When a Motor Credit agency has reposessed your vehicle and sold it for the value of the loan; the credit report shows paid/balance $0.00 but yet a collection agency has placed 2 different collection items in your credit report for different valuse in excess of the original loan, and now 3 items exist for different amounts for the same item that had been paid/closed by the motor credit agency. Is it legal for them to place more than 1 collection against you for the same item, and is there a way to really verify the actual amount that the item had been re-sold for and the remaining amount of the bill...
2 Answers from Attorneys
Re: Credit Issues
Contest the accuracy with the three credit reporting agencies, follow on an appeal with them if necessary. Obtain the release notice on the original debt and use this with the above. If this is not successful then contact an attorney or pursue the entities reporting the credit for correction. Several inaccurate entries on your credit report for the same debt which has been paid is simply unacceptable. Call me if you need help.
Joe Holthaus
(410) 799-9002
Re: Credit Issues
Calling ther motor credit company would seem to be the most logical way to determine the status. Collection companies may be selling the alleged debt around. It should not be showing up several times on your credit report. It should show up once, and be accurate.
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