No. of Recommendations: 0
Collection agency records do not belong on credit reports, and are inherently inaccurate (you never "opened an account" with a collection agency.. and claiming you did is what they do when they list your "debt" with a collection agency. Its not really a debt because you don't owe them anything- maybe you owe someone else soemthing they are trying to collect.)

Neo, Anyone who reads a credit report entry by a collection agency knows that the consumer did not open an account at the collection agency. No reasonable person thinks it is a claim that the consumer willfully opened an account with a collection agency. And finally, it is clearly segregated on the credit reports from entries by companies doing financial business with the consumer.

You are clearly very informed but statements like these are overreaching.

Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.