I discovered fcnb placed a charge-off on my TU. Now I have a charge-off & a new account called Midland Collections for the same balance. Can they do that?
SPACECAT, If you go to Nave's Creditnet Board FAQ I think you'll find the answer to your question. Look under charge offs. I don't think that if FCNB has sold the account to Midland that they can continue to report a balance on it. Also, if Midland has purchased the debt and is now reporting it that might be considered a duplicate entry and grounds for the FCNB to be deleted. Again, I'm not sure so read Nave's FAQ section. Its very informative. Has Midland contacted you regarding this account? If so, have you requested validation?
No FCNB is not supposed to show a balance, but they will until you get aggressive with them. They can continue to report the charge off but it should now show a zero balance, but believe me, been there done that, they will continue to verify the balance until you do something about it. Do a search for FCNB and Midland, you will see that there has been some VERY recent threads about this.
