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jasummers76

Credit card sent to different branch

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This account was original with Mid American Bank and Trust Company Total Visa. My son used my info to get the card we already had a long talk. A payment was never made on the account which is showing as 30 days late as of 12/2015 and 60 Days late on 01/2016. In the remarks section of this trade line, it states "transferred to another office" The account pops back up with Mid America B&T Genesis with a new account number. Now it is showing a payment was made in 12/2015 then goes 7 straight months without a payment before being CO. I am not trying to get them removed as I am not trying to get my son in trouble. But I do find it unfair that "one" credit card is reporting the same negative information twice. anyone thoughts?

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Yes he has paid me, and no I did not file a police report against my son.

 

I am just wondering if a company is allowed to report the same account twice by changing the account number and saying a payment was made in a month the branch they bought it from reported it as 30 days late.

Edited by jasummers76

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Genesis may be a CA. the OC and a CA can both report but only one can report a balance. Both must report accurate info.

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I can understand that, but the branch who opened the account had it less the three months and does not show it as a CO. Then the second one reported a payment for a month the OC has marked at 30 day late.

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Yes he has paid me, and no I did not file a police report against my son.

 

I am just wondering if a company is allowed to report the same account twice by changing the account number and saying a payment was made in a month the branch they bought it from reported it as 30 days late.

 

You are a victim of identity theft. A police report is a key part of the process for restoring your credit.

 

Your son is a turd. Stop protecting him and get your credit fixed.

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OP, my heart goes out to you. Betrayal from within the family is a tough pill to swallow. I hope you and your son and the rest of the family can work your way through this and find some kind of order through the chaotic mess.

 

Unfortunately, although I am sure there is a way to ask for forgiveness from the creditor, as far as the late payment goes - with so much time elapsed, I am not inclined to think the bank will accommodate. I realize that you didn't call the police out of concern for your son. My guess is he's a young adult and you're concerned about his future. Some kids will learn from an episode like this, and some simply won't and will take further advantage if they can. It's mind-boggling and heart-wrenching, but it's just the way it is. You likely know him better than he knows himself, so do what you think is best.

 

Keep tabs on your insurance - home & auto. If your credit scores drop a good bit, your rates may increase. Take note of that increase, and perhaps share that reality with your son, if you find it appropriate. Your son will feel shame, of course. And the very best way to deal with shame is atonement. He may not be able to pay you back now, but if he can straighten his path, once he starts earning, he'll be able to find a way.

I suggest you freeze your credit until such time you can trust your son again. This will stop future account openings. I am hopeful that you can salvage your son and your credit without too much hell.

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Thanks everyone I just want to say the only reason I did not file a report with the police is because he was 17 and has already gotten many grants for college and this is the only serious thing he has ever done. For people to say they would put a felony on their kids record over 540 dollars is kind out there. I mean I would if he was a deliquent or was using credit for drugs of course but we are talking about a very poor choice by teen. My question still is open i am willing to pay the debt but how do I go about getting two trade lines from the same cars down to one? Thank you all for your responses

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