How do collection agencies edit credit reports?

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Question by macfreak86: How do collection agencies edit credit reports?
I keep getting calls from the famous Allied Interstate collection agency saying if I don’t pay a certain bill to them (not the client), that they will threaten to put that on my credit report. How can they do that when I don’t have a credit report or any credit? Also, how do they edit credit reports? I wonder how many people, besides me, cut them off by saying “I’m going to deal with the client on this.”

Best answer:

Answer by Judy
I am not sure if I understand.
But I know someone that had no credit report.
One day, she forgot to pay a bill for 3 months.
Then she had a credit report.
Funny only the deliquent payment showed.
It established her credit.

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3 Responses to How do collection agencies edit credit reports?

  1. Collection agencies submit what is called a “UDF” (universal data form) to the reporting agencies either via mail or electronic data transfer.

    This looks like a case of mistaken identity. Are you sure this debt is not listed on your credit report. Unless you are under 18 or have never ever applied for a loan or credit card, then you would have a credit report. You should request your free copy to see if you do have a credit report. You can go to annualcreditreport.com for a free copy.

    Also under the FDCPA they have 5 days after the initial contact to send you a written document explaining who is owed the money, how much and what the collection agency intends to do. 15USC1692g

    If it is a case of mistaken identity (or at worse, stolen identity) then you will have to take care of this immediately or it might harm your credit in the future.

    Hope this answer is of help to you
    LEGAL DISCLAIMER: The answer provided here is intended for informational purposes only. It is not intended nor presumed to be legal counsel or professional legal advice

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