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Charge off CC

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chevyman
Contributor

Charge off CC

On CCs that show a zero balance and I did not pay it thats that the debt was sold
Message 1 of 9
8 REPLIES 8
DiabolicallyRandom
Established Contributor

Re: Charge off CC

Yeah it generally indicates it being sold.

Message 2 of 9
chevyman
Contributor

Re: Charge off CC

Sorry if I seem to be asking a lot of questions new this and trying to figure this out
Message 3 of 9
RobertEG
Legendary Contributor

Re: Charge off CC

You dont learn without asking!

 

Reporting of a $0 balance by the OC means that, for whatever reason, they are posting that you no longer owe debt to them.

The usual reason is sale of the debt, but it could also reflect that they cancelled the debt, or that it was discharged by BK.

 

If a purchasing debt collector then reports a collection, the amount they report signifies both the amount they are collecting and the amount of debt owed to them.

Message 4 of 9
chevyman
Contributor

Re: Charge off CC

OK now I have no open CCs yet my credit to dedt is at 104 how
Message 5 of 9
guiness56
Epic Contributor

Re: Charge off CC

You don't have to have an open CC in order for your utilization to be that high.  If the OC is reporting a balance and CL on a closed account it is factored into your utilization.

Message 6 of 9
chevyman
Contributor

Re: Charge off CC

One report says credit available 1845 credit used 1912
Message 7 of 9
DaBears
Senior Contributor

Re: Charge off CC


@chevyman wrote:
One report says credit available 1845 credit used 1912

It's reporting like that cause of possible late fee's being added on before the charge off took place.

Message 8 of 9
chevyman
Contributor

Re: Charge off CC

Ok
Message 9 of 9
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