i have a collection account listed on my TU report. it is being listed under account type as a factoring company account.. it was a cc account with the oc.. a factoring company buys debt not in default,right? this was certainly a defaulted acct. it was c/off by the oc. answers would be helpful.that is if you know what you are talking about. thanks
Hi NC. You're right. A "Factoring Company" is a specific type of business entity which purchases "performing" assets. (receivables). A CA is NOT a "Factoring Company"!!! My guess is this is also listed as "open" on "Account Status". -- Welcome aboard.
