I have a default on a credit card from 2010. This was due to disappear from my report sometime this year, but debt has been passed on to a new company who are now reporting on my file and threatening a new default for the same debt. Can this be true?
I understand your concern. The new company can register a default under their name but, importantly, the amount and date must be the same as the original entry. And the original entry should be updated with a marker to make it clear the debt has been sold on, so that anyone looking at your credit history in the meantime isn’t misled into thinking there were two separate debts. I suggest you keep an eye on your credit report and, if the second company does register a new default with a new date, let us know so we can dispute this for you. You can find a step-by-step guide of how to tell us if an entry on your credit report is wrong and what’s wrong with it in this previous Ask James answer. (February 2016)
You can find archived Ask James questions arranged under subject headings such as ‘applying for credit’, ‘credit and debt’ and ‘fraud’ at the main Ask James page.