If i have an account that was sent to collections that is marked off as a charge off shouldn't the balance be $0....i have two one is marked as $0 and one isn't.... could i use this to my advantage??? i'm just looking for some dirt
Hi Elisa, If an account is still owned by the creditor the report may show a balance, even though a charge off has occured. It's when the OC sells the account outright that they're required to show -0- balance. Presumably because the OC has now gotten all the money they'll ever see on the account, therefore, balance zero. There's also the matter of whether or not it's even correctly reported. ALL of the info. on your CR must be 100% complete, accurate and varifyable. Have you done anything on these yet? If you don't have any dirst yet, lets get some. ???
