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If the OC Lane Bryant charges off as a bad debt for $350 then sales the debt to Comenity Bank, then THEY charge it off then sale it to security credit services and I finally paid the debt off with security credit services, can the OC still show a balance of $350 owed on my credit report? By the way, Comenity bank and security credit services has deleted the tradeline off of my credit. I know i'm rambling but thanks for any responses.
@JUNE2012 wrote:If the OC Lane Bryant charges off as a bad debt for $350 then sales the debt to Comenity Bank, then THEY charge it off then sale it to security credit services and I finally paid the debt off with security credit services, can the OC still show a balance of $350 owed on my credit report? By the way, Comenity bank and security credit services has deleted the tradeline off of my credit. I know i'm rambling but thanks for any responses.
If the OC sells the debt must report 0 balance.
@JUNE2012 wrote:If the OC Lane Bryant charges off as a bad debt for $350 then sales the debt to Comenity Bank, then THEY charge it off then sale it to security credit services and I finally paid the debt off with security credit services, can the OC still show a balance of $350 owed on my credit report? By the way, Comenity bank and security credit services has deleted the tradeline off of my credit. I know i'm rambling but thanks for any responses.
When the OC sells your debt to a Collection Agency, they have to promptly udpdate your CR showing $0 balance. They are not required to remove it, but they should deflinitely udpdate it to reflect $0 balance.
If they don't I would contact the OC and show them proof that you have paid said debt, and ask them to update their records.
Hope that helps...
Thanks all! they are still reporting a $350 balance i think it is effecting my credit score:-(