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Has a company aquisition resulted in incorrect record on credit score?


In April last year, the lender was acquired by another company, though I only recently became aware of this.
In May last year, my TransUnion credit report started showing the account as being in default under the new company's name. It falsely stated that I had been making regular payments to the acquiring company until February 2024 and then defaulted—this is completely incorrect.
I was unable to get a response from the new company, so I disputed the error with TransUnion. Within a month, it was removed from my credit report.
As I’m currently selling my house, I checked my Experian credit report and found the same issue listed there. I’ve raised a dispute and hope it will be corrected soon.
Meanwhile, my Equifax report appears accurate, listing the original lender with correct details. Given this, and the timing of the incorrect default appearing, could this issue be related to the lender’s acquisition? Has anyone experienced something similar?
Currently kicking myself for not checking Experian sooner 🤦♀️
Comments
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Sassybot said:
In April last year, the lender was acquired by another company, though I only recently became aware of this.
In May last year, my TransUnion credit report started showing the account as being in default under the new company's name. It falsely stated that I had been making regular payments to the acquiring company until February 2024 and then defaulted—this is completely incorrect.
I was unable to get a response from the new company, so I disputed the error with TransUnion. Within a month, it was removed from my credit report.
As I’m currently selling my house, I checked my Experian credit report and found the same issue listed there. I’ve raised a dispute and hope it will be corrected soon.
Meanwhile, my Equifax report appears accurate, listing the original lender with correct details. Given this, and the timing of the incorrect default appearing, could this issue be related to the lender’s acquisition? Has anyone experienced something similar?
Currently kicking myself for not checking Experian sooner 🤦♀️
In either case anythings possible, it's possible when trying to migrate something from one system to another that errors are made or data is interpreted incorrectly or different systems process the same thing differently. It's also possible that years after an acquisition the two former businesses are still using their seperate systems and no migration or integration has occurred.0
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