Charge Off Sold - But to Whom?

[Anonymous]

I have a debt that was charged off by the original creditor but that collection agency is not named. The debt won't come off my reports This was a revolving charge and no collection agency has ever reported the debt to the bureau's or contacted me.

I was considering starting a process of paying off the debt by negotiating to the debt down and a pay to delete. Approaching the original debtor may cause to open up a whole new issue. Because the new debtor is not named is this cause to have the item removed as an error or what steps can be taken to find out who the new debtor is?

Thanks for any help!

[gdale6]

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@Anonymous wrote:

I have a debt that was charged off by the original creditor but that collection agency is not named. The debt won't come off my reports This was a revolving charge and no collection agency has ever reported the debt to the bureau's or contacted me.

I was considering starting a process of paying off the debt by negotiating to the debt down and a pay to delete. Approaching the original debtor may cause to open up a whole new issue. Because the new debtor is not named is this cause to have the item removed as an error or what steps can be taken to find out who the new debtor is?

Thanks for any help!

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Is the OC reporting a 0 balance?

[Anonymous]

OC is reporting $0 balance with all three credit bureau's.

[DE2TX]

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@Anonymous wrote:

OC is reporting $0 balance with all three credit bureau's.

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Then you don't have a debt reporting. What you have is a charge off reporting.

[Anonymous]

Back to my original comment the listing also states the debt was sold but doesn't give a name.

[RobertEG]

It is common to have periods where you owe a debt, and it is not being reported to a CRA.

Unless and until the new owner reports, there will continue to be a period where the debt amount is not reported.

The $0 balance reported by the OC will not be intermpreted as the debt having been paid unless the OC reporting includes paid or settled.

Contact the OC and ask for the identity of the party they sold it to.

Hopefully, they will tell you, at which point you could choose to send the new owner a DV request or offer them a pay for not reporting.

[DE2TX]

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@Anonymous wrote:
Back to my original comment the listing also states the debt was sold but doesn't give a name.

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Creditors aren't required to report. The only requirement is that what is reported has to be accurate and verifiable. Since the OC is reporting a $0 balance there's not much you can do about the balance.

[gdale6]

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@RobertEG wrote:

It is common to have periods where you owe a debt, and it is not being reported to a CRA.

Unless and until the new owner reports, there will continue to be a period where the debt amount is not reported.

The $0 balance reported by the OC will not be intermpreted as the debt having been paid unless the OC reporting includes paid or settled.

Contact the OC and ask for the identity of the party they sold it to.

Hopefully, they will tell you, at which point you could choose to send the new owner a DV request or offer them a pay for not reporting.

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Agreed