Debt on Credit Report Not Mine

[melody301]

What is the name of your state? MD

To make this long story short. I'm in the process of purchasing a home, our lender wants a $3800 debt paid that's showing up on my report. I did not know it was there until the lender bought this to my attention. I know for a fact this debt does not belong to me. The original date of the debt is May 2000 which is scheduled to drop off May 2009. I've contacted the collection agency that's listed on my report and they tell me they no longer own the debt. They give me other numbers of other collection agency's and everyone no longer owns the debt. Finally I was able to figure out who the original debtor was as they've told my they've passed it on to the collection agency that's on my report.

Anyway I've sent two certified letters to both the collection agency and the original creditor requesting verification of the debt. No one has responded to me. I've also sent a ceritified letter to the credit bureau's which they are "doing they're research". I've cc'd the lender on all the letters I've sent out. What can I do to force these people to verify the debt and if they can't what can I do to get this derogatory information off my report. It is tremendously effecting my score which is effecting my interest rate?

 

[moburkes]

What is the name of your state? MD

To make this long story short. I'm in the process of purchasing a home, our lender wants a $3800 debt paid that's showing up on my report. I did not know it was there until the lender bought this to my attention. I know for a fact this debt does not belong to me. The original date of the debt is May 2000 which is scheduled to drop off May 2009. I've contacted the collection agency that's listed on my report and they tell me they no longer own the debt. They give me other numbers of other collection agency's and everyone no longer owns the debt. Finally I was able to figure out who the original debtor was as they've told my they've passed it on to the collection agency that's on my report.

Anyway I've sent two certified letters to both the collection agency and the original creditor requesting verification of the debt. No one has responded to me. I've also sent a ceritified letter to the credit bureau's which they are "doing they're research". I've cc'd the lender on all the letters I've sent out. What can I do to force these people to verify the debt and if they can't what can I do to get this derogatory information off my report. It is tremendously effecting my score which is effecting my interest rate?

You have to give them time to respond to your letters. Its interesting, though. You said that the debt is not yours, but you refer to when it is scheduled to be removed from your report. If there was a debt on my credit report that wasn't mine, I could care less when its scheduled to drop off. I would just want it off!

 

[melody301]

You have to give them time to respond to your letters. Its interesting, though. You said that the debt is not yours, but you refer to when it is scheduled to be removed from your report. If there was a debt on my credit report that wasn't mine, I could care less when its scheduled to drop off. I would just want it off!

You are absolutely correct I want it off for the fact that it isn't mine. For informational purposes to you all I was just refereing to all the information that showed up on the report. I will fight to get this off before then.

I first sent a letter giving them 30 days to respond. When I didn't here anything I sent a
2nd letter demanding them to verify or remove it from my credit report. From the time I sent the first letter is has been 50 days, more then enough time to get a response.

 

[moburkes]

You are absolutely correct I want it off for the fact that it isn't mine. For informational purposes to you all I was just refereing to all the information that showed up on the report. I will fight to get this off before then.

I first sent a letter giving them 30 days to respond. When I didn't here anything I sent a
2nd letter demanding them to verify or remove it from my credit report. From the time I sent the first letter is has been 50 days, more then enough time to get a response.

You sent a letter to the collections agency, and its been 50 days. When you wrote to the credit bureau, did you include that information (that you haven't received a response)?

 

[melody301]

No I didn't indicate that because when I sent the letter to the bureaus it was 2 weeks after the first letter sent to the collection agency's. The bureaus told me they will complete there investigation in 45 days.

Basically I told the credit bureaus that I had no knowledge of the debt and that I would like verification that it is valid and belongs to me.

 

[StephenH]

Its likely Indentity Theft

You may have a stolen indentity. You probably want to put a fraud report on your credit report. Next, you need to contact the creditor in question or collection agency and speak to their fraud investigators. If it clearly isn't yours, you may also want to file a report with the police.