If the OC sells the account can they continue to report on your CR or even pull your credit report? Thank you. juliej
Yes, they can continue to report. If they have sold it, they should report it as charged off, zero balance, sold or transferred. If they've only assigned it, but not sold it, they could still pull your report as they still own the debt.
Nope they sold it. I got a nice introduction letter from Arrow letting me know that they bought the acct from First Premier. So now that First Premier no longer has any interest in this and seeing as I have no other business dealings with them how can they pull my CR or report anything? Thank you. Juliej
They can report the status of it (sold or transferred -0- balance), but you could certainly argue no pp to continue reviewing your report.
yes, they can and they will. I have an old Providian account that was charged off in 2003 still reporting. They continually "update" it so it looks like it is a current account. It finally fell off two credit bureaus but Equifax still lists it and it appears to be a current, valid account. On the report, in the sections such as "date of last activity" is shows "NA". They also list the high balance as almost $4000...the account was closed when it reached $1200. so yes, they are heinous. Can they do it? Doesn't matter - they do it.
From everything I have read here and elsewhere they might do what they do but that doesn't mean it's legal. If what they are doing to my CR is illegal you can be sure I will file a lawsuit this week. juliej
Thank you Jlynn! I plan to enlighten Experian this morning as to the illegality of First Premier's continued pulling and reporting incorrectly. It is only Experian that is reporting this 25x late even after the account was sold off to Arrow. I also plan to bring a lawsuit this week against Experian. This isn't the only screw up they are involved in. They are also reporting, incorrectly a judgement against my spouse and it is most definetly not his. Thank you again. juliej
