I had three accts with CCB (now Applied Card Bank). All three accts went into collection, were charged off, sent to recovery and subsequently sold to three different and distinct Junk Debt Buyers in 2002. Thus, CCB no longer owned ANY of the debts.
Despite the fact that they (CCB) no longer owned the debts, it continued to report derogatory information to each acct on my credit report JUST AS IF it still owned the accts. To further compound the problem, the three new Junk Debt Buyers attempted collection of these three debts and each new collection agency ALSO reported derogatory information to each account. Thus, I had SIX (6) derogatory entries about THREE (3) accounts, as well as an inflated debt-to-income ratio because six entries were reporting balances instead of the actual three.
Fast forward 3 yrs, I inherited some money and decided to clean up my credit report! 90 DAYS later and I am just treading water. Despite the fact that every single account was paid or settled and have zero balances (there were other accts besides CCB), it has been a TOTAL STRUGGLE to get these creditors to accurately report their tradelines as $0.00. HANDS DOWN, no exceptions, Cross Country Bank has been the worse offender.
I filed a formal complaint with the Federal Trade Commission regarding CCB & a bureaucratic waste of time. All the FTC can do is enter the complaint into a database and "monitor" other complaints to see if a "pattern of abuse" exists for it to proceed to the next level.
I have mounted a letter-writing campaign to CCB and filed a complaint with "The Office of the President" of CCB as well. Small victory to the little man: CCB has finally updated 2 of 3 tradelines to reflect $0.00 balances but refuses to update the 3rd one.
DOES ANYONE HAVE ANY IDEAS on what to do next?
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