Can you get the OC taken off your report?

[Anonymous]

The OC gives the account to the credit agency but both show up on the Credit report. How can you get the OC removed?

[tbque]

I need to know the same thing as well? But I think the answer may be that they both are allowed to post, as long as OC is reporting 0 balance charged off. Not for sure though.

[RobertEG]

One of the unfortunate things about credit reporting and scoring is that it is based on all delinquencies and derogs that report on a debt, not just upon any one debt/one derog reporting rule.

The normal path that an account that reaches collection follows leaves numerous derogs in its wake.

While the OC account is open and actrive, first a 30-day late occurs and is reported.  Then a 60-day late. Then maybe a 90-day late, followed by a charge off of the debt by the OC, and then placing of the debt for collection by a debt collector.  So, at that point you already have appox. 4 derogs posted by the OC.

Once a debt collector becomes involved, the CA  can post their own collection with the CRA in addition to all of the prior reporting done by the OC.  So you can then have five derogs on the same debt.  All proper.

How do you get the OC removed?  If the OC sold the debt to the CA, rather than just hiring them to act as their agent in its collection, then the OC cannot accept any payment of the debt.  They are out of the legal picture.  They update your debt with them to $0, and leave it to the debt collectior to report as they so choose.  You cannot then PFD the OC. Paying the CA, in this case, even with a PFD agreement with the CA, wont obligage the OC to do anything.  All you can do at that point is to make a plea to the OC for GW deletion of their prior, multiple reportings.

If, however, the OC only hired the CA to collect on its behalf, and retained legal ownership of the debt, you can try to PFD the OC, asking for their deletion of whatever prior derogs they have reported in exchange for your payment to them. If it is assigned for collection without sale of the debt to the CA, then the OC still reports the full balance of the debt.  It does not become $0 debt due on the OC account simply because a CA is also reporting collection on the debt.  If the OC accepts a PFD, then prior OC reporting will be deleted.  But the OC cannot compel the CA to also delete their prior, proper posting of a collection. So deletion of the OC wont ensure deletion of the CA,

[piersonj1]

What happens then if they are both reporting a balance.  If the OC sold the debt, then they should be reporting a $0 balance, and the CA shows the balance, but what if they are both showing balances, is that something that you could dispute, or would it even be worth disputing?

[guiness56]

If the OC still owns the account, both them and the CA are allowed to report a balance.

[Anonymous]

---

@guiness56 wrote:

If the OC still owns the account, both them and the CA are allowed to report a balance.

---

How do you kow if it's been sold or not?

[MarineVietVet]

---

@Anonymous wrote:

---

How do you kow if it's been sold or not?

---

The balance on the OC account will be zero if it's been sold..

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Whats In Your FICO Score

[piersonj1]

On my CR it says sold to another lender.  Unfortunately they are both reporting a balance on mine, even though it says SOLD on the OC?

[Anonymous]

I have two things like this on my credit report. Can you even try to get the OC removed? Is there a sample letter for that?