credit one

[Anonymous]

credit one is a charge off account back in 2003. This account has been sold to another lender and is  listed as a 'revolving' account.  Aren't they supposed to be showing a ZERO balance? 

Thanks to anyone who can get me straight on this !

[Anonymous]

credit one should be reporting 0 balance.

[llecs]

They can show a balance with a CO status. It also impacts your overall utilization. Some of us here, present company included (DW's), have the same issue with CapOne. DW shows 300% util on that card.

Check SOL and look at DV. Even though you can't DV an OC, you might get away with it since it was sold to another party.

Now, I am assuming that the CO was not paid.

[llecs]

Could that second lender be considered a CA? Anyone?

[Anonymous]

Thanks for all the input.  I thought I had read somewhere on these posts about a zero balance.  Yes the sold to lender is a CA.    I had tried disputing with EQ  but they sent me this 'so sorry' letter saying verified etc.  and left the $459.00 balance on.

Now what?   I know it is old, and yes -- its not paid (I tried to PFD but no-go on that so far). 

Any good plan of action ?

Thanks

[llecs]

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llecs wrote:

They can show a balance with a CO status. It also impacts your overall utilization. Some of us here, present company included (DW's), have the same issue with CapOne. DW shows 300% util on that card.

Check SOL and look at DV. Even though you can't DV an OC, you might get away with it since it was sold to another party.

Now, I am assuming that the CO was not paid.

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Striking this from the record. It was a CA.

[llecs]

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ceannie wrote:

Thanks for all the input.  I thought I had read somewhere on these posts about a zero balance.  Yes the sold to lender is a CA.    I had tried disputing with EQ  but they sent me this 'so sorry' letter saying verified etc.  and left the $459.00 balance on.

Now what?   I know it is old, and yes -- its not paid (I tried to PFD but no-go on that so far). 

Any good plan of action ?

Thanks

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I think I read somewhere that they can do that though. I had a US Bank that went to CO status around 7 yrs ago. CA took over and reported the same balance. So on report twice (TU only). I disputed both accounts via TU using an argument provided by TU that it was a duplicate account. TU responded by deleting both of them. Shocked me but was around 7 yrs old then.

I have not done this and have no experience, but some have tried MOV letters with the CRAs and had success. Maybe I missed this, but have you tried to DV the CA? Also check your SOL.

[Anonymous]

Its actually Credit One that still reports the balance of 453.00,  after being sold, tagged as a revolving.  The collection who now has it is that horrible   'Portfolio Recovery'..........they arent even lic in Illinois -- if i am looking right.   I am trying to deal with them also.  But I want the balance reported as zero from the OC -- Credit One.  Anyway I can improve -- I'll take it.