Contacted CC Company. They just sold my debt. What should I do?

[Anonymous]

Hello all!

I contacted CapOne about my CC that was charge off in 2014 this morning to see if I can work something out. THey told me that they just sold my debt to Portfolio Recovery Associates! I want to prevent this from hitting my credit report. What should I do???? I already have a judgement from them and I don't want another collection or judgement.

Please help!

[Anonymous]

If PRA hasn't reported yet call see if you can work out something. PRA though may have already initiated the process for it appear on your CR.

[Anonymous]

Indeed, contact PRA asap...Once they report it will be VERY challenging getting them off. It can be done, but you will have to be extremely skillful.

[RobertEG]

Is the prior judgement now satisfied?

If not, they may be less amenable to granting any voluntary concessions, such as not reporting their collection, or may also demand payment of the judgment debt as a condition for not reporting their collection on this new debt.

[Anonymous]

No, the judgment is not paid off. Man, I am in between a rock and a hard place.

[RonM21]

The key, already mentioned, is getting ahold of them as soon as possible to prevent it from hitting the report.

[RCOH]

I had the same thing happen just last month. I sent full payment into CapOne for a charge off account I had reporting. I was unaware Portfolio owned the account. CapOne received payment, noted and updated my account then forwarded payment to PR. The account is now reporting as $0/paid. Portfolio was never listed on my report(s).

If you can send in full payment I would before they report it. 

[Anonymous]

Thanks! Do you or anyone know how long before they report it?

[Anonymous]

They are pretty quick on reporting.

[Anonymous]

Thanks. I was afraid of that. I called them up to get a agreement before I gave the agent my checking account info. She told me that they sent out a letter on the 2nd of June to an old address. She was very pushy and I was not budging. She put me on hold and I just hung up.

I think I am going to ask for DV to see if they have all the correct info and they followed the law.