Charge off and collection

Discussion in 'Credit Talk' started by Shantel, Aug 5, 2001.

  1. Shantel

    Shantel Well-Known Member

    Is it "legal" for a credit card company to post something to your CRA as a charge-off, THEN sell it to a collection agency and THEY report it on your credit report also?

    Do I send validation letters to both? One? How do I handle this?
  2. Struggler

    Struggler Well-Known Member

    I've wondered that same thing myself. I would think that the original creditor could only report "Account sold or transferred," but I don't really know.
  3. LKH

    LKH Well-Known Member

    If the debt has been sold, the original creditor has no right to post it any longer. I would dispute both of them anyway, but the new owner is who should be posting it to your report.
  4. fletchlive

    fletchlive Well-Known Member

    So does that mean that the original creditor would not show up at all on the credit report or that it will show up as a zero balance but still charged off (R9)?.... or possibly even just listed as transferred/sold without the charge off showing. There are so many variables in this hobby :)

Share This Page