Epic Contributor
Posts: 23,336
Registered: ‎03-19-2007
Re: Debt in accounts?

Reporting of a $0 debt balance by a creditor does not mean there is no longer a debt to pay.

It usually means that they no longer own the debt, and thus there is no debt owed to them.  If they sell a debt, they are required to timely update its reporting so as to maintain its accuracy.  However, the debt itself is still out there until paid.


There are often times when your CR will not show the amount of an unpaid debt.  The party who purchased the debt can report at any time.

The amount reported by the debt collector will thus reflect both the amount they are authorized to collect and the amount of debt owed to them.