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3 CA for one account?!

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Anonymous
Not applicable

3 CA for one account?!

My DH has a credit card that has three CA trying to collect on it. The cc company is still sending him statements and taking payments that have been sent. Should I see if the OC will pull the account back from collections and accept payment in full?
Message 1 of 8
7 REPLIES 7
brownee
Frequent Contributor

Re: 3 CA for one account?!

Have you guys DV'd the CA's? Who is showing on your credit report..the OC or the CA?
7/7/09 TU: 630 EQ: 638 EX: ??
4/3/09 TU: 599 EQ: 606 EX: ??
Message 2 of 8
Anonymous
Not applicable

Re: 3 CA for one account?! Update

Pulled DH's credit reports. There are 3 collection companies that have tried to collect for OC. None of the CA are on the credit reports, just the OC. OC keeps sending statements and accepts money. However, they note on the statement that the account is now with a CA. Yet we haven't heard anything from any of the CA's since the first letter they all sent.Keep paying the OC? DV the CA's? TIA
Message 3 of 8
Anonymous
Not applicable

Re: 3 CA for one account?! Update

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.

Message 4 of 8
Anonymous
Not applicable

Re: 3 CA for one account?! Update

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!

Message 5 of 8
Anonymous
Not applicable

Re: 3 CA for one account?! Update

Yes.  Go ahead and pay this off so it doesn't get any worse.  You do not want this sent to external collections.
Message 6 of 8
Desert-Rat
Regular Contributor

Re: 3 CA for one account?! Update

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

Message 7 of 8
Anonymous
Not applicable

Re: 3 CA for one account?! Update

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.

Message 8 of 8
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