OC Sold Debt and CA Deleted

[Anonymous]

Hello all, here's a kind of an odd one, the OC (BOA) sold my charged off account to PRA, i disputed with PRA and was sent back a pretty vague letter that stated after an investigation the account was closed and would delete their TR with all 3 CRA (was not expecting that, but who's complaining) now the OC is showing a $0 balance as sold and the CA isn't claiming it.  Being that I can't neg anything with BOA except with GW, is there anyway to get the CRA to stop reporting this based on the letter I have from the CA which is in REF: to the BOA account in the subject title.

If only more CA could be as easy as PRA

[RobertEG]

After the OC sold the debt and updated to reflect a $0 debt balance is now owed to them, they have completed their required reporting obligation.

Any subsequent reporting, lack thereof, or deletion reported by the new owner has no relevance to the prior reporting of the OC.

Deletion of any reporting by the OC would be addressed by way of GW request to them, which will most likely be difficult as they took a net loss in dealing with you.

Deltion by the debt collector could well be based on sale of the debt to another, which could result in the reinsertion of a collection.

You might call the debt collector and inquire as to whether the debt has been sold.

[Anonymous]

Thanks Robert, another one for you if you don't mind.  My state has a 5 year purge on paid accounts.  Would the zero balance help me remove it or am I stuck with this for the 7 years?

Edit:  Also if PRA deleted the account because they might have sold it why hasn't BOA done the same (removed the TL), isn't that sort of a catch 22?

[gdale6]

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@Anonymous wrote:

Thanks Robert, another one for you if you don't mind.  My state has a 5 year purge on paid accounts.  Would the zero balance help me remove it or am I stuck with this for the 7 years? Pretty sure they will be able to tell it wasnt a paid account and it will stick the 7 years unless you can GW it off.

Edit:  Also if PRA deleted the account because they might have sold it why hasn't BOA done the same (removed the TL), isn't that sort of a catch 22? No catch 22 the OC is within their rights to report the CO and 0 balance. CRAs demand that only one CA/JDB report on the same TL so that is why PRA is deleting and as Robert says I would be calling them to see who they sold it to so you can deal with them prior to any further reporting.

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[Anonymous]

Thanks, where can I find that CRA require that only one report the TL for the same account?  That sounds interesting.  I would love to read more about it.

[gdale6]

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@Anonymous wrote:

Thanks, where can I find that CRA require that only one report the TL for the same account?  That sounds interesting.  I would love to read more about it.

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Robert says its in the CRA manual. CRA manuals I believe are given to customers of the CRA when they start using their credit services.

[RobertEG]

The standard credit reporting manual, titled the "Credit Reporting Resource Guide," is a joint product of the big-3 and their contractor, the Consumer Data Industry Association.  It is copyrighted by CDIA, and not sold to the general public.  It is incorporated into all credit reporting agreements with the CRAs as the agreed reporing guidelines.

Many of its provisions, such as deletion of a collection if a debt collector's collection authority is teminated and the debt remains unpaid, no grant of GW or PFD deletions based on payment of the debt, and cessation of updated reporting on closed, paid accounts, are not statutory requirements of the FCRA