Duplicate Accounts
I had a very interesting question today from a very good friend of mine. I decided to share this with you because I can imagine many of you will suffer from this at one time or another. I will also be adding this to my book, as it is pertinent to raising scores, and a good credit education.
For those of you that have already purchased the book, I will be sending you an update as soon as it is completed, or you can read it here. (That is one of the VERY best things about how I am publishing this... I can update and send new information at WILL.) I could never do that if I had gone through a publisher, or sold this in a bookstore. I would have been stuck with my "finished" product, and you will have been cheated.
On to the question... My friend, we will call Jim noticed he had several duplicate entries on his report. These were actually the same account, just reported twice. He asked if the double entry counted on his score twice, and the answer is YES!!! Of course they do.
He got all excited, these were good entries, he had actually paid on time!!! The balances were fairly low on a couple of them, and he was happy!!!
I pointed out that the duplicate reporting of accounts actually worked against him when it came to any NEW credit he needed. You see, if and when he wanted to begin a new relationship with a lender, they would have access to the credit report. They would see the duplicate accounts, and either determine he was unqualified because his debt load was too high, or ignore the duplicate accounts, and re score without them. In turn, his score could go down and the lower score would either give him a higher rate than he expected, OR disqualify him completely. Neither of theses options are good ones, and I further explained HOW to remove them himself, and check to make sure they were gone.
Any misreporting on a Credit Report needs to be corrected, period. Even if the information is in your favor TODAY, does not mean it will be TOMORROW. Things change, and so do our needs. We do not know what tomorrow will bring, so live your lives with integrity, and honesty.
Together Jim and I wrote the letters to the bureaus requesting the duplicate items be removed. Both of us secure in the fact that his credit might not be where he wants it to be TODAY, but TOMORROW it will be better, and one day it will be PERFECT!! You have access to the exact same letters Jim and I used when you purchase my Credit Control Kit.
I have included some very popular free videos of most of this information on our YouTube Channel. Go check us out in HD.
God Bless,
Wayne
www.givemegreatcredit.com
For those of you that have already purchased the book, I will be sending you an update as soon as it is completed, or you can read it here. (That is one of the VERY best things about how I am publishing this... I can update and send new information at WILL.) I could never do that if I had gone through a publisher, or sold this in a bookstore. I would have been stuck with my "finished" product, and you will have been cheated.
On to the question... My friend, we will call Jim noticed he had several duplicate entries on his report. These were actually the same account, just reported twice. He asked if the double entry counted on his score twice, and the answer is YES!!! Of course they do.
He got all excited, these were good entries, he had actually paid on time!!! The balances were fairly low on a couple of them, and he was happy!!!
I pointed out that the duplicate reporting of accounts actually worked against him when it came to any NEW credit he needed. You see, if and when he wanted to begin a new relationship with a lender, they would have access to the credit report. They would see the duplicate accounts, and either determine he was unqualified because his debt load was too high, or ignore the duplicate accounts, and re score without them. In turn, his score could go down and the lower score would either give him a higher rate than he expected, OR disqualify him completely. Neither of theses options are good ones, and I further explained HOW to remove them himself, and check to make sure they were gone.
Any misreporting on a Credit Report needs to be corrected, period. Even if the information is in your favor TODAY, does not mean it will be TOMORROW. Things change, and so do our needs. We do not know what tomorrow will bring, so live your lives with integrity, and honesty.
Together Jim and I wrote the letters to the bureaus requesting the duplicate items be removed. Both of us secure in the fact that his credit might not be where he wants it to be TODAY, but TOMORROW it will be better, and one day it will be PERFECT!! You have access to the exact same letters Jim and I used when you purchase my Credit Control Kit.
I have included some very popular free videos of most of this information on our YouTube Channel. Go check us out in HD.
God Bless,
Wayne
www.givemegreatcredit.com
Posted by Wayne Altman at 4/28/2009 1:04 AM 
Categories: Credit Reports Duplicate Accounts
Tags: Credit Reports Duplicate Accounts Credit Scores
Categories: Credit Reports Duplicate Accounts
Tags: Credit Reports Duplicate Accounts Credit Scores
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