I have 2 cc accounts that were charged-off 2 years ago. They have been with CAs since then. The CAs do no show up on my credit report, but my credit reports show that the OCs are still reporting every month that the accounts are charged off. Can the OCs do this even though the accounts are with CAs now? Thanks.
NEW MEMBERS READ THIS. http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=410243#post410243 ************************************************************ YEAH
I'm trying to find the same answer.......see my post below. http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=425394#post425394
Re: Re: Original creditors and charge-offs Why would the OC continue to report after turning over to CA?
Most likely the debt has been assigned, not sold, and the OC still owns it and therefore can report it.
The answer depends on who owns the account (as ICE_SIREN) said. If the OC still owns the account, just be glad that the CA isn't reporting it on their own as well, because then you would have two blemishes for the one account, and unfortunately, it is LEGAL. If the CAs were sold the account, then both could still put tradelines on your credit reports, but the OC would have to update to a ZERO BALANCE (and more than likely along with a notation of ACCOUNT TRANSFERRED OR SOLD)
NEW MEMBERS READ THIS. http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=410243#post410243 ******************************************bump******************
