Charge offs vs. Collection accounts

Anonymous — Tue, 31 Jul 2007 17:28:22 GMT

I ran my credit report and I have a question I am hoping someone can help me with. I have some Charged off credit cards that show balances on them. Those credit cards are also showing under collections thru other various collections agencies with balances. If I write PFD letters and pay the collections accounts will it also bring the balances on the Charged off account or will the balance still show there? So Basically at this point is there anyway to get the charged off accounts to show 0 balance?

Also I have 2 different collections on my report showing the same bill can they do that?

Re: Charge offs vs. Collection accounts

Anonymous — Mon, 06 Aug 2007 03:16:51 GMT

It is "supposed" to show as pd collection/chargeoff with a 0 balance with the date the account was closed and the date the balance was pd if they are different. I say "supposed" because if you do not pay attention to make sure its posted collectly it will still show a balance and look like a chargedoff/collections account that not pd off.

And no they cannot post two colections for the same account. the only way they can post two collections for the same account is if the first collection agency used is no longer handling the account and a new agency is. BUT your report should show the change in collection agencies and not listed as two separate collections.

Message Edited by CocoaLily on 08-05-2007 08:11 PM

Message Edited by CocoaLily on 08-05-2007 08:16 PM

topic Re: Charge offs vs. Collection accounts in Understanding FICO® Scoring

Charge offs vs. Collection accounts

Re: Charge offs vs. Collection accounts