Charge off Reporting Late is that right?

[Anonymous]

I have a charge off that was sold to the CA and it says 0 balance in the balance section, however in the payment status, the status is: Late, should that be 0 as well as they already sold it to the CA, is the correct or incorrect reporting? They are showing as one of my two only lates on my report because of it.

thanks.

[RobertEG]

The creditor is required to update the debt balance to $0 if they sell the debt.

The status and payment history become frozen at the level of delinquency when they sold the debt.

It appears accurate.

[Anonymous]

thanks and I appreciate you sharing your knowledge.