purchased by another lender

Anonymous · ‎03-24-2008

When you have a collection and it says "Purchased by another Lender", what does that mean? And can I still dispute that with the CRA?

Anonymous · ‎03-24-2008

also in the current status areas it says "charged off as bad debt"

Anonymous · ‎03-24-2008

I believe it means that the company reporting has charged off the debt and sold it to someone else.

Is this a CA or an OC?

Anonymous · ‎03-24-2008

It's still under the accounts section. It's the OC (best buy) that's reporting "purchased by another lender" and "charged off". Now since it's been purchased by another lender and charged off, shouldn't it be removed from my credit report?

Anonymous · ‎03-24-2008

NO!! An OC CO can remain on you CR for approx 7 years from DOFD not the date that they sold it.

An OC and 1 CA can report on the same debt at the same time!!

Anonymous · ‎03-24-2008

Ok. 7 years from DOFD. Where on the credit report does it tell you the DOFD? I only see the date it was opened and date it's been updated, etc.