HUGE Problem with Charge-Off/Sold Acct.

[Shogun]

Drink an extra cup just to make sure.  

[DaBears]

I don't want my neighbors seeing me tweaking outside 

[Kevin5974]

This is exactly what I am looking for. The CA doesn't care to contact CitiBank since they own the debt. I need Citi to update to show PIF/CO with a $0. I am submitting a complaint with the BBB today!

[guiness56]

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@Kevin5974 wrote:

This is exactly what I am looking for. The CA doesn't care to contact CitiBank since they own the debt. I need Citi to update to show PIF/CO with a $0. I am submitting a complaint with the BBB today!

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You can also file a direct dispute with Citi under FCRA 623(a)(8).  As the furnisher of information they are required to investigate, make changes and/or deletions and notify you within 30 days.  They have to do this or the are in violation of federal laws.

[RobertEG]

The debt collector does not have to notify the OC of payment.  The OC is out of the picture once they sell the debt.

The moment the OC sold the debt, they were required to have reported a $0 balance to the CRA. 

They thereafter have no dog in the hunt.

Getting the OC to update based on payment to the debt collector is not the way to resolve the matter.  Any dispute should be based simply on their failure to have complied with section 623(a)(2), which is the reqirement for timely update of information so as to maintain its accuracy.

[Kevin5974]

Well I sent a nice professional complaint via CFPB and essentially apologized for neglecting my responsibilities in having this account charge off. I did however, inform them that I have been burdened with higher interest rates and have had trouble obtaining new credit due to their erroneous reporting. I imagined it was an oversight, albeit egregious, and mentioned I thought deleting the tradeline would be best for both parties. Citibank acknowledged selling the debt in 2010 but did not apologize or admit fault. They did however, agree to delete the tradeline

[Rain77]

Nice!