I had an account with Brandsource.DOFD was 9-2005.They sold the account to Arrow.I dipsuted arrow with the CRAs and it got delted.So I then disputed Brandsource with the CRAs.The had it listed as charge off & purched by another lender.Well today EQufax verfied it and it now says 120 plus days where it use to say charge off.Can they do this if they sold the account?Also it droped my credie score by 60 points since it looks like im not been paying it.The problem is in 2006 it was 120 day late not 2011.Is this legal?
It should be reported as a charge off with a 0 balance if they sold the debt. Are they showing a recent DOLA?
Whats a DOLA?Sorry new to all this.Yes it does show a 0 balance.Maybe they never sold it to Arrow?But it says on all 3 CRAs sold to another lender.Not sure will have to find out.Either way I can understand if they update it after the dispute to show 9-2011.My main question is can they change it from charge off to showing 120 days past due?They already listed this as 120 days past due back in 2006 before they charged it off.When they did this it made my credit score drop alot,which made me look like I was late on another account.I have not been late on any accounts in the last 4 years.I really made a mistake disputing this I think.They sure taught me a lesson.I asked this at another form but they had no answer for me there.Im so upset.
DOLA is "Date of Last Activity". It definitely sounds like the debt was sold and charged off, which means it should remain that way with a 0 balance on your credit reports. Find out for sure if the account was sold though. If it was, I would dispute it through the CRAs as being sold. If it wasn't, the OC may just be handing it off among different CAs for collection.
Try contacting the OC. If they've sold the debt, they should be able to tell you and direct you to the company that purchased it.
