Two similar accounts can reflect a legitimate loan transfer or a real duplication. Compare creditor names, account identifiers, opened dates, closure dates
Two similar accounts can reflect a legitimate loan transfer or a real duplication. Compare creditor names, account identifiers, opened dates, closure dates, balances, and transfer remarks before concluding that you owe twice.
Check the underlying records
A former servicer may show a closed or transferred account while a new servicer reports the active loan. A problem may exist when the old and new entries both show the same currently owed balance or when incorrect payment history was duplicated.
Take the next step
Ask the servicer for a transfer notice and ledger. If a field is wrong, dispute that specific field with the furnisher and each bureau displaying it, using the transfer documentation. Check the result on all affected reports.
Know the limits
Do not request deletion of accurate history simply because two related entries appear. An accurate transfer record is distinct from a duplicated obligation.
Further reading
https://www.consumerfinance.gov/ask-cfpb/what-are-common-credit-report-errors-that-i-should-look-for-on-my-credit-report-en-313/
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This article is general information, not legal or financial advice. Results vary by credit profile.
