01-06-2013 09:01 PM
On CR there's an auto loan account with a full balance but apparently charged off. The institution is not the original creditor. Does this mean that the name of DC on the report is no longer in charge of the debt (and most likely has sold it off) even with a balance showing? There are two other chraged off accounts, but with a 0 balance, so I'm unsure of what this one means.
01-06-2013 10:35 PM
What has likely happened is that the OC sold the debt to a CA and now the CA legally owns the debt. So the OC has wrote off the bad debt (CO) and sold the bad debt at pennies on the dollar to the CA who is now trying to recoup the full amount (there profit)..And IM surprised with an auto loan the haven't tried to repo the vehicle.
01-08-2013 08:16 AM
Oh yes, they have taken the car, long ago!
So Santander is the company, CitiFin was the original creditor. The thing is, there's no current account with this balance. Just the Santander account, with a balance but charged off. So whoever bought the debt is not reporting to credit bureaus? Granted I haven't checked the other two beside Experian, but shouldn't I expect the same reported accounts on all three?
It's as simple as calling Santander though, to ask where it's at?
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). 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.