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Target Account

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Warrior2000
Regular Contributor

Target Account

Hi all,
My opened a target account on 02/08 with a CL of $200. She quickly messed that up and went late and never again paid it. It is listed with all CRA's as Paid Profit & Loss.

On 03/11 the evil empire (Midland) purchased it. Long story short, the account was settled for $440 from a $600 balance on 04/14.

I'm kinda new to this but isnt this double dipping since its being listed as two accounts? How can a balance become $600 from a $200 balance?
Message 1 of 2
1 REPLY 1
gdale6
Moderator Emeritus

Re: Target Account


@Warrior2000 wrote:
Hi all,
My opened a target account on 02/08 with a CL of $200. She quickly messed that up and went late and never again paid it. It is listed with all CRA's as Paid Profit & Loss.

On 03/11 the evil empire (Midland) purchased it. Long story short, the account was settled for $440 from a $600 balance on 04/14.

I'm kinda new to this but isnt this double dipping since its being listed as two accounts? Nope, the OC & CA can report, the OC has to report 0 balance since they sold it but the CO status remains.
How can a balance become $600 from a $200 balance? Interest & fees continue to be added on every month.

I would be writing GW letters to the OC & the CA to ask for forgiveness. Good luck Smiley Happy

Message 2 of 2
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