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Vero7699

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Loan sold and now reports as new acct. with new date opened
My bank sold my auto loan to another bank. This was not a re-finance. I did not sign any loan documents with the new bank. The new bank now reports the date opened of my car loan as the date they acquired the loan, not the date I originally took out the loan.

Basically, my car loan which is 18 months old, now reports as if it is 3 months old.

Can anyone please tell me if they are allowed to legally report my loan this way?

Thanks in advance.

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Dispute the facts (account age and history) with each of the Reporting Agencies, provide as much information as possible including that it was not a refi but a selloff, 30 days later everything should be accurate...

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Report them

Someone is now doing something about this kind of behavior:

http://collectionbully.com

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same problem,

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i filed bankruptcy and was discharged january 2010, discharged account with verizon wireless was sold to collection agency, new date as new account january 2014 was reported to credit biroe, a contacted the agency pinnacle credit services, no help from them even the account was discharged in the bankruptcy. this type of action by the collection agency should not be tolerated, i am taking legal action for the us bankruptcy code violations.

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