Total debt shown on CR

[Anonymous]

Hello All,

On my CR all my information is correct. Except for one part:

Revolving Debt

$0.00

Revolving Credit Limit

$0.00

Revolving Credit Usage

0%

Real Estate Debt

$0.00

Installment Debt

$0.00

Total Debt

$493.00

Accounts Ever Late

4

Accounts In Collections

1

Time Since Negative

0.6 year(s)

My Total debt amount says $493.00 and that is accurate for the one account in collection. However I have 3 other accounts that are charged off. What does this mean?

All of the other 3 accounts are reporting as "failure to pay" every month.

Please advice on what I should do next.

[RobertEG]

Your credit report alone cannot always be used to determine the current amount of debt owed, even if it relates only to the reported accounts.

There are often times when an account no longer shows the current amount of debt.

Example:

You have  a delinquent debt with an OC  That creidtor sells the debt, which requires them to update the current balance owed to them to $0.

If the new owner/debt collector has not yet reported, then there will be a period of time where your credit report will not show any reporting of the amount of debt.

Sale of the debt without any reporting of paid under the OC account alerts others that the debt is now hiding out there somewhere, and may well be added when and if a collection reports.