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Regular Contributor
gymbo731
Posts: 219
Registered: ‎01-04-2010

Who to contact for a sold Charged-off Credit Card?

Ok, I will try to be brief. So I had a Chase account that became a charged-off. The account was sold to asset acceptance and I settled with them. I had two listings on my CR one from chase and one from Asset. Somehow, I was able to convince asset in a GW letter to remove their tradeline. I am now left with just Chase.

 

Who is responsible for this listing and who should I contact for GW? I dont even know how to find out. This happened a while ago and I remember asking Chase about this and they said they can't do anything because its sold, and asset said they can't because they didn't put it on my CR to begin with. Am I screwed for another 2 years?

 

Please help. Thx!


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Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007

Re: Who to contact for a sold Charged-off Credit Card?

You always send the GW to whomever is reporting. If Chase is reporting, then the GW needs to go to them. Asset or any other CA cannot remove an OC's listing. It is only the OC that can remove the OC's TL. Start with the address(es) listed on your CRs.

Regular Contributor
gymbo731
Posts: 219
Registered: ‎01-04-2010

Re: Who to contact for a sold Charged-off Credit Card?

I already sent a letter to Chase and they said they can't do anything with the account because it is sold. They told me to contact Asset, and that's why I am sonfused.


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Valued Contributor
JM-AM
Posts: 3,303
Registered: ‎06-09-2010

Re: Who to contact for a sold Charged-off Credit Card?

[ Edited ]

 


gymbo731 wrote:

I already sent a letter to Chase and they said they can't do anything with the account because it is sold. They told me to contact Asset, and that's why I am sonfused.


 

Do you still owe money on the account? Neither the OC and or the CA will work with you at all if money is still owed. 

 

According to what you have said the OC sold the account to Asset for collections so you would have to make agreements with Asset for payment. Hopefully they will accept a PFD so they remove the CA from reports. Keep in mind if still with-in SOL they can attempt to sue you at any given time until SOL expires. 

 

Once payment is made then you can attempt to GW the OC and make an attempt to make it seem like it is worthwhile to them to remove the negative reporting.

 

Edited to say since I didn't read the entire post the last sentence applies.

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Mega Contributor
RobertEG
Posts: 17,272
Registered: ‎03-19-2007

Re: Who to contact for a sold Charged-off Credit Card?

Chase is simply avoiding the issue by passing the buck.  The fact that they sold the debt to a debt collector has absolutely nothing to do with their ability, if they choose to do so, to delete information previously posted by them..   What an OC cant do after selling the debt is to accept payment.  But that is not what you are asking them to do.

However, even though Chase is giving you the runaroud, be careful about becoming defiant or argumentative with them.  They dont even have to respond to any GW letter.  You are asking them for a favor.

It appears that they simply want to avoid the entire matter of a GW.

Regular Contributor
gymbo731
Posts: 219
Registered: ‎01-04-2010

Re: Who to contact for a sold Charged-off Credit Card?

Yea, I see what your saying Robert. So just because the account is sold, that doesn't mean the collection agency is reposonible for the OC listing? I paid Asset for a settlement which I stated I did. I guess I just need to keep trying to GW chase to remove it, or wait....

 

Do you think they will send me a letter stating when my DOFD is? Experian has the wrong DOFD listing and they won't let me dispute any more.


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Mega Contributor
RobertEG
Posts: 17,272
Registered: ‎03-19-2007

Re: Who to contact for a sold Charged-off Credit Card?

You dont need to go to your consumer CR, make any assumptions of what the reported DOFD  is, or have to dispute anything, to get the specific DOFD stored in your credit file.  All you have to do is to be willing to pay the CRA a fee of $10.50. Most consumer credit reports dont include DOFD as part of their normal reporting.  But that does not mean that it is not in your credit file.

 

As a brief background, whenever an OC does a CO or refers an account for  collection, they are required, under FCRA 623(a)(5)(A), to provide to the CRA the DOFD on the account within 90-days of the charge-off or collection referral.  This is stored by the CRA in a field called your "FCRA Compliance Date/Date of First Delinquency."

So it must be in your credit file.

Knowing that consumer credit reports dont always include all information that a consumer wants to see from their credit file, such as in your case, the DOFD, congress provided your abiltiy to get any item of information in your credit file by merely requesting it from the CRA.  This is set forth in FCRA 609(a)(1).  The only hitch is that such requests are not free.  FCRA 612(f) sets a fee, currently $10.50, payable to the CRA, for fulfillibg such requests.

With that being said, here is a sample letter that you might find useful:

 

"This is a request, under the provisions of FCRA 609(a)(1), for all information in  my credit file relating to the following item of information:

          "This item of information is commonly referred to as the date of first delinquency, or DOFD, on the original creditor account

           "More specfically, it is the date reported by creditor (name of OC, and their account no.) under their requirments  set forth in FCRA 623(a)(5)(A).

           "As further idetification of the information I am seeking, I believe that this date is stored in my credit file as the

                             "FCRA Compliance Date / Date of First Delinquency." 

"I understand that this reqest must be accompanied by the fee as set forth in FCRA 612(f) of $10.50.  Enclosed is my check in that amount,"

 

 

 

 

Regular Contributor
gymbo731
Posts: 219
Registered: ‎01-04-2010

Re: Who to contact for a sold Charged-off Credit Card?

If this is for Experian, who should I make the check out to? I am going to see if I can contact Chase and see if they can give me some past statements. That will prove when my DofD was. I guess I don't understand why I would ask them for this information and pay that money when I know they are wrong. We shall see what happens.


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