First off, Since I started using this forum my scores have gone from about 520 to 620 in under a year. Thanks Everyone Ok, I have a trade line that reads current status - charge off and shows the balance as $1431.00, past due $1431.00 and charge off $1431.00 Shouldnt the balance be $0 ? Can I dispute this Idem and hope because it was a charge off in 2002 they will not even have me on file still. I also have a trade line that was sold, that I payed the collection agency, like a dumbass. How can the original creditor still report it. They got something for it.
it will only have a zero balance if it is a paid charge off. based on what you said it is not. as far as the original creditor they will report in most cases as whether or not you pay the collection agency does not impact their perception of the account. they got paid from the CA before you paid the CA
If its a charge off, they charged it off. meaning wrote it off, so why would I have a balance?? Does this mean I cant pay them in order to have it removed? Whats a paid charge off? The point about the other question was if they sold the account, they got paid. Why do they get to report it? Look I was an ass for paying the ca and not the original creditor, but did not know any better and paid the full amount of the account. Now what. The original creditor said after the fact that I would not have even been able to pay them after it was sold. So why do they get to report it?????
Both can report, but the original creditor should show a zero balance with the notation "sold or transferred." If the OC is reporting a balance, dispute it with the CRAs.
Once sold it is not their account anymore that's why they said that. they report it as a negative due to the fact they had to charge it off. I think to better understand your question you should cut and paste the CRA entry omitting the personal data. If the OC charged it off then the balance should be zero but they still report how much they charged off. As for the OC that will be there for 7years and is very hard to remove. I think you may misunderstand that just because they sold youre account to a CA doesn't mean they simply take it off your Credit report just as if you pay and close an account it still positively impacts your report. Who was the OC and CA?
