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Balance on any account is not the same as balance on unpaid debt.
The OC sold the debt to another, so you may have no balance left with the OC. So they report no account balance owed.
Unpaid debt lives forever, until paid. Someone out there still has a claim for the unpaid debt.
I do not see a post of "paid in full," I only see a new lendor with ownership of the debt.
The new owner does not become an OC, so all of the drop off dates for credit reporting remain with the dates of delinqency on the OC account.
7 years from the date of each delinq with the OC, and 7 1/2 years from the DOFD on the OC account for any CO or CA that anyone reports.
But a new owner of the debt can still claim collection.
My credit report does not show anyone else trying to collect on it. Would I need to contact Bealls to figure out from when the debt occurred and who owns it now? I don't see anywhere where a drop off date is shown...
@brenda1924 wrote:My credit report does not show anyone else trying to collect on it. Would I need to contact Bealls to figure out from when the debt occurred and who owns it now? I don't see anywhere where a drop off date is shown...
The free reports you can get once a year from annualcreditreport.com will have much more information than you get from third party sites. Experian and Transunion will say words like "This account will continue to report until xxxxxx ....... and Equifax will have the actual DOFD so you can determine when a negative entry should be gone.
From a BK years ago to:
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802
3/10 EQ- 800
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just because you don't see a CA reporting yet, doesn't mean they will not very soon.
Do you owe money?
I had a store card that was reporting under 3 different banks, and two of the listings said "purchased by another lender". It wasn't that I owed someone else a balance, it was that the store had changed banks servicing their store credit card. I also have a listing like this for my Target card - they upgraded my store card to a Visa & both the original and current cards show up on my report, with my original card listing "sold to another lender" or whatever. I don't think they're hurting me.