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Keep paying the OC. If they CAs aren't reporting, I wouldn't worry about it.
I'm guessing that either you're not paying the minimum, or you are over the limit or something like that. The danger is that eventually the OC will close the account and really send the case off to a CA. That's the CA that would report. Sounds like it's still just in internal collections, and they haven't given up on you yet. If they do give up, then it will get worse in terms of what is reporting. You'll get a "closed by grantor" and probably a CO.
So keep paying the OC. Extra.
Yes he was over his limit. I have been paying them extra. On his report it does say closed by credit grantor.Would our best bet be to just pay it off since we will have the funds?
Thanks!
Not to hi-jack but have a quick question.... Is that statement detrimental?
I have "closed by grantor" showing on CR''s for an old mortgage, Great Western S & L (sold to WaMu) that I re-fied with my CU.
I had no lates, just re-fied for better rate.
TIA
D-R
On credit cards, it is derogatory.
On a mortgage, in what you describe, I can't imagine it would be negative since people re-fi every day. But I'm not sure.