Credit Cards Center Credit cards from our partners
Reply
Established Contributor
Posts: 714
Registered: ‎06-01-2012
0

Can a debt be sent back to the OC?

When the collection account called, I told them I would take this matter up with the hospital the debt was reported from. They informed me that they purchased the debt, and the hospital no longer had financial ties to it. I called the hospital anyways, and was told they did write off the debt and sell it, therefor they had to refer me to the CA.

 

Today I received a BBB response letter stating they were removing all reporting from the CRAs and sending it back to the OC??

 

So if they bought it, did they sell it back? How does this work?

In my wallet: Discover it 6800 CL, Capital One Quicksilver Sig 5k CL, Chase Freedom 4k CL, GCU Patinum Visa 1500 CL
Valued Contributor
Posts: 1,206
Registered: ‎02-19-2012
0

Re: Can a debt be sent back to the OC?

Not sure exactly what the chain of events were. But IMO If the CA is off the reports get your but in touch with hospital and pay. If they have chargeoff on your report ask for PFD. Period. Looks like you just got lucky. Have letter in hand before you pay.


Starting Score: 0
Current Score: TR??FICOEQ ?? FICO
Goal Score: 760

Lowes7,000 Discover More 2800. Jcpenny 6,000
Chase freedom 800 Never take NO for an answer!!
Established Contributor
Posts: 714
Registered: ‎06-01-2012
0

Re: Can a debt be sent back to the OC?


annielorie wrote:

Not sure exactly what the chain of events were. But IMO If the CA is off the reports get your but in touch with hospital and pay. If they have chargeoff on your report ask for PFD. Period. Looks like you just got lucky. Have letter in hand before you pay.


The hospital never showed up as a CO on my report or anywhere on my report. The CA is the only thing that ever showed, but is removed. The debt is 6 years old and was scheduled to come off in 2013 anyways.  I cant afford to PFD the debt was over 7k and Its so old now I dont think it would be worth it.

 

I was just confused as to how the hospital sold the debt, the CA bought it, now the CA is selling it back i guess? Why would the hospital buy a 6 year old debt back after the SOL has expired?

In my wallet: Discover it 6800 CL, Capital One Quicksilver Sig 5k CL, Chase Freedom 4k CL, GCU Patinum Visa 1500 CL
Valued Contributor
Posts: 1,206
Registered: ‎02-19-2012
0

Re: Can a debt be sent back to the OC?

Why was the BBB involved??What ws the complaint?


Starting Score: 0
Current Score: TR??FICOEQ ?? FICO
Goal Score: 760

Lowes7,000 Discover More 2800. Jcpenny 6,000
Chase freedom 800 Never take NO for an answer!!
Established Contributor
Posts: 714
Registered: ‎06-01-2012
0

Re: Can a debt be sent back to the OC?


annielorie wrote:

Why was the BBB involved??What ws the complaint?



I complained about them reporting a duplicate collection. so for the past 3+ years my CRAs have reflected 15k in collections on 2 seperate accounts, I corrected that issue via dispute. That and they never provided me any type of validation of the debt, yet still attempted to collect.

 

I offered them to provide the information requested or delete the accounts from the CRAs.

 

They said they would delete it and to please contact the OC regarding any further issues with the debt.

In my wallet: Discover it 6800 CL, Capital One Quicksilver Sig 5k CL, Chase Freedom 4k CL, GCU Patinum Visa 1500 CL
Valued Contributor
Posts: 1,257
Registered: ‎07-18-2009
0

Re: Can a debt be sent back to the OC?

[ Edited ]

Most agreements that JDBs buy debt under provide that they can return the debt and get refunded their purchase price under certain conditions. Usually it's if there is some defect in the debt paper.


I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy18k, Amex Plat (60k H/B), Citi AA EWMC 25k
Valued Contributor
Posts: 1,206
Registered: ‎02-19-2012
0

Re: Can a debt be sent back to the OC?

Well if its out of SOL legally they the OC or any other CA assigned the account.  Morally you still owe debt, legally however the OC or CA'S dont have a leg to stand on. If they try to bring you to court go. Then just state SOL.


Starting Score: 0
Current Score: TR??FICOEQ ?? FICO
Goal Score: 760

Lowes7,000 Discover More 2800. Jcpenny 6,000
Chase freedom 800 Never take NO for an answer!!
Community Leader
Epic Contributor
Posts: 26,276
Registered: ‎03-19-2007
0

Re: Can a debt be sent back to the OC?

[ Edited ]

The OC sold the debt.  You cant pay them.  If no OC or collection is reporting, then nothing to request deletion of.

The OC is not likely to buy back a debt they sold. 

 

I would leave it alone, unless you just want to satisfy the debt by sending payment to the debt collector.

Established Contributor
Posts: 714
Registered: ‎06-01-2012
0

Re: Can a debt be sent back to the OC?

[ Edited ]

I do not want to pay this debt, and nothing is reporting.  Ive tried 6 years to get a breakdown of the charges and its been the longest headache of my life.

 

That was the confusing part to me, why would they buy the debt back?

 

I will just leave it be, as the debt is so old and Ive got documented attempts for information regarding this debt.

 

It didnt make sense to me as to how this could hurt me, but I dont know much about these things.

In my wallet: Discover it 6800 CL, Capital One Quicksilver Sig 5k CL, Chase Freedom 4k CL, GCU Patinum Visa 1500 CL
Community Leader
Epic Contributor
Posts: 26,276
Registered: ‎03-19-2007
0

Re: Can a debt be sent back to the OC?

No.

The OC cant send "debt" to anyone.  They have stated that they no longer own it. They are out of the debt picture.

A new debt collector would have to receive assignment from the owner.

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.