Sunday, November 15th, 2009

How do I fix credit report when the credit card company is no longer in business?

fix credit
INFLGal asked:


I am in the process of trying to buy a home and recently reviewed my credit report. I noticed that one account was still reported as opened with a balance.

About 4 years ago, I had a credit card account with Conseco Greentree Financial services. The balance was sold off to another company when Conseco went bankrupt. I’ve since paid off the balance. I called the company that serviced the loan and they said there’s nothing they can do since they don’t appear anywhere on my credit report.

How cn I get this fixed? I can get Conseco to fix this since they are no longer in existence! HELP!!

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5 Responses to “How do I fix credit report when the credit card company is no longer in business?”

Daniel L Says:
November 15th, 2009 at 6:33 am

You dispute it with the credit reporting agency. It is up to then to reverify the claim. If they cannot then request that it be removed from your report.

nathanael_beal Says:
November 16th, 2009 at 10:03 pm

bring it up with the three credit reporting agencies and dispute it as paid.

Freddie Says:
November 17th, 2009 at 4:06 am

Same answer without the fedora. Dispute letters need to be sent to all three of the major credit reporting agencies: Equifax, Transunion, and Experian. You will want to include information on the purchase of your account by the other company, the amount owed and paid. Another thing, have you inquired with the company approving your mortgage iregarding the impact that this one discrepancy would have on the loan?

CreditMan Says:
November 17th, 2009 at 9:36 am

Dispute the credit account with the credit bureau. The credit bureau will try to contact the credit card company and when they find out they do not exist anymore you should automatically win the dispute and the account will be removed.

Good luck!

Real Georgian Says:
November 20th, 2009 at 2:48 am

Credit Report Myth or Reality
By: Herman Randolph

also dispute in november….end of the year…busy during christmas…more of a chance it will be cleared.

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