topic Re: can oc report a balance?? in Rebuilding Your Credit

can oc report a balance??

Anonymous — Thu, 28 Jun 2012 13:42:49 GMT

Wondering if an OC that had charged-off and sold an account can report a balance to the CRAs. I was under the assumption that once it is charged off or sold, they have to report a 0 balance. My TU is showing a balance from OC that has been charged-off, sold, transferred. I want to dispute it, but TU locked my out yesterday for a password screw up.

Re: can oc report a balance??

LIGHTNIN — Sat, 30 Jun 2012 15:57:21 GMT

When an OC sells a debt,they must then report a $0 balance on the OC account.

Re: can oc report a balance??

RobertEG — Sun, 01 Jul 2012 01:45:19 GMT

If sold, it is clearly not reporting correctly.

You dont have to dispute through a CRA.

Send your dispute directly to the creditor under the direct dispute process (FCRA 623(a)(8). Attach a copy of that portion of your recent CR showing they are still reporting a balance after the debt was sold.

If they concur and delete, your one direct dispute requires that they report the results to each CRA that they have reported to.