charge off not reporting accurately

[fwill5rn]

Hello everyone on myfico forums.

I was reviewing my CR and on the "what hurting my score page", i noticed that I had 124% of revolving credit that is affecting my score.  So I looked at the accounts individually and realized that my credit cards have been charged off but the OC's are still reporting balances.  Shouldn't the CCC's be reporting  $0.  if they've been sold to a CA?  Should I call the CCC and request they send updated info to the CRA to reflect a zero balance?    

[guiness56]

They should be reporting a 0 balance if they state sold/transferred to another lender.

[fwill5rn]

Hi Guiness!!!!

Thanks for the quick response!!!   They are reporting Charge off but I don't think they're reporting sold or transferred.  Should I call the OC and ask them to update?  If they do update, will that help my fico score?

[guiness56]

If they don't say sold/transferred, they still own the debt and can list a balance.

You need to contact them and find out if they own the debt or not.

It could if they don't own the debt and the CL and balance was being reported. 

[fwill5rn]

Thanks for the input.  I called them today and both creditors stated the accounts have been sold.  I will call them again tomorrow and request they send updated info to CRA.