Can OC and CA report?

[Schoolbuskid]

I have a friend who thinks both OC and CA is reporting! Both accounts has the same charge off amount!

Also what is the best way to tackle charge offs?

THanks!

[Anonymous]

OC and CA can both report at the same time.

[Schoolbuskid]

Wow that sucks, this definitely should not be allowe. How would she know which one owned the account?

[Anonymous]

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Schoolbuskid wrote:

Wow that sucks, this definitely should not be allowe. How would she know which one owned the account?

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Call the OC and ask if they sold or assigned the account. Or DV the CA and ask for that in the DV.

I believe the OC has to report a $0 balance if sold, but not if assigned.

[fused]

If both are reporting, the OC must show a $0 balance while the CA can report a balance.

[Schoolbuskid]

 OC is showing Zero balance but still showing Chargeoff amount! Also is it true that if you never pay a CA, can that debt stay on your report forever? 7 year CRTP is from DOFD right?

[llecs]

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Schoolbuskid wrote:

 OC is showing Zero balance but still showing Chargeoff amount! Also is it true that if you never pay a CA, can that debt stay on your report forever? 7 year CRTP is from DOFD right?

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As mentioned, both can report. A paid or unpaid CA will only remain for 7 years from DOFD, not forever.

[Schoolbuskid]

Thanks, llecs!