Confused about Synchrony CO..best way to handle?

[hippychic823]

I have a $200 CO from Synchrony Bank for an American Eagle card. This CO is reporting monthly as open 120 days late every month. When I called to arrange a PFD they said they no longer owned the account and gave me that name of the CA (Northland Group). Northland is nowhere on my CR. Only Synchrony who is updating monthly as a CO with a 200 balance 120 days late. Should I continue to try to PFD through Northland or should I try with Synchrony? Or should I dispute it since it's incorrect reporting (or is it? I have no clue). Regardless, I do want to pay this debt, hopefully PFD

[RobertEG]

If the creditor no longer owns the debt, then you cannot pay them.  They should have updated the balance to $0.

Once they have sold the debt, they should discontinue monthly updates.

Payment negotiations, such as a PFD, can now only be made with the owner/debt collector.

You can send a DV to the debt collector if you wish to wait for validation, or you can contact the debt collector and make your offer.

[hippychic823]

But since they are still reporting it monthly as late with a balance, even though they claim they no longer own it, is that grounds for a dispute? The debt is mine and I want to pay it I'm just confused as to how they're reporting it. I definitely don't want Northland (who now apparently owns it) reporting it as a collection though lol

[hippychic823]

And, with them reporting it monthly as late with a balance, is that affecting my util as well?

[Anonymous]

---

@hippychic823 wrote:
I have a $200 CO from Synchrony Bank for an American Eagle card. This CO is reporting monthly as open 120 days late every month. When I called to arrange a PFD they said they no longer owned the account and gave me that name of the CA (Northland Group). Northland is nowhere on my CR. Only Synchrony who is updating monthly as a CO with a 200 balance 120 days late. Should I continue to try to PFD through Northland or should I try with Synchrony? Or should I dispute it since it's incorrect reporting (or is it? I have no clue). Regardless, I do want to pay this debt, hopefully PFD

---

I think you are missing an opportunity to pay the collection agency ahead of them placing an account on your reports.  In my experience, if you pay collector before it appears on your reports, they won't place an account on your reports (I've done this successfully twice).  While it is true they can place an account with zero balance, most likely they won't. After you pay, dispute the original account, which could yield a deletion.

[RobertEG]

The OC account should make an updated reporting of closed, $0 balance owed to them.

The status would remain as the highest level of delinquency, which could either be the monthly delinquency level (e.g., 129-late) or charge-off.

You could dispute the accuracy of the account continuing to show open or a balance.  Resolution of that dispute would result in either verification or correction of that info.

It would not result in removal of the account or the reporting of the CO, as they represent accurate reporting.

[Anonymous]

---

@RobertEG wrote:

The OC account should make an updated reporting of closed, $0 balance owed to them.

The status would remain as the highest level of delinquency, which could either be the monthly delinquency level (e.g., 129-late) or charge-off.

You could dispute the accuracy of the account continuing to show open or a balance.  Resolution of that dispute would result in either verification or correction of that info.

It would not result in removal of the account or the reporting of the CO, as they represent accurate reporting.

---

Yes it's true the creditor is bound by law to report accurate information.  However is there a law that says the creditor must report an account?  Can't the creditor choose not to report? If a creditor deleted an account, that's a choice not report?