CA Account scheduled to drop off in 2011 just dissapeared from my credit reports

[Anonymous]

I recently pulled my CR's and found that a CA account for a Verizon home phone line from 2007 has fallen off all three reports. This is great for me but according to an earlier Transunion CR that listed this CA account, it was not scheduled to fall off until 2011. The account was charged off earlier this year. I owed less than $175 on the account and had refused to pay because I disputed the charges (I filed disputes on this account through all 3 CR's as recently as this summer but without success).

Can anyone explain to me why this happened and what it could mean? Has anyone ever experienced something similar?

The CA that has the account now just sent me a collection notice last week asking for payment for the total balance and I am wondering whether this action has anything to do with the account dissapearing from my CR's. Color me puzzled...

Message Edited by LisaAndy on 12-17-2009 03:19 PM

[llecs]

It's likely the CA sold the account to another CA. They'll usually delete at that point. Keep an eye out for a new one down the road.

[Anonymous]

Thanks for your insight. I believe the OC may have just sold the account to a CA since the OC charged off the account in February and then offered to settle for half the total this past summer. If that is the case, can I negotiate with the current CA to agree to close the account (not updating the account on my CR) if I pay in full? I would be willing to pay if they would close the account on their books but not update the account on my CR's but I fear that they may go ahead and do this after I pay so I no longer have any recourse. The account has already been charged off and the SOL should have been only 2 years (and already expired) since it was a phone land line account = oral contract which has only a 2 year SOL here in California. 

[Jazzzy]

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@Anonymous wrote:

Thanks for your insight. I believe the OC may have just sold the account to a CA since the OC charged off the account in February and then offered to settle for half the total this past summer. If that is the case, can I negotiate with the current CA to agree to close the account (not updating the account on my CR) if I pay in full? I would be willing to pay if they would close the account on their books but not update the account on my CR's but I fear that they may go ahead and do this after I pay so I no longer have any recourse. The account has already been charged off and the SOL should have been only 2 years (and already expired) since it was a phone land line account = oral contract which has only a 2 year SOL here in California. 

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If you are willing to pay in full, why not try to work a pay for delete? That's where...if you pay the account...they take it off your reports for good.

You may want to do some reading on the Rebuilding Your Credit forum on pay for delete (PFD). There are right and wrong ways to go about it. You need it in writing from them before you pay. This is worth considering.

[Anonymous]

Hi Lynette! Thanks for your advice regarding PFD but I wonder how I should address this with the CA since at the moment, there is nothing to delete. Are they able to promise not to update the account if it is not listed on CR?

[Anonymous]

Have they communicated with you? If they are requesting payment and they arent on your credit reports yet it is possible they have filed the paperwork and it hasnt got on yet or they may be waiting. If they are contacting you for payment tell them you will pay it for the amount you guys agree but they have to agree that the account will be considered satisfied in full and will NOT be reported to the CRA's. MAKE SURE THEY GIVE YOU THIS IN WRITING BEFORE YOU PAY. If you dont get it in writing you have no recourse if they do report it later.

[RobertEG]

Here is my read.

As of now, I have no idea who owns the debt, or if the CA is still under contract with the OC.  It could still be owned by Verizon (the OC).  Or maybe, as has been speculated, Verizon sold it to the CA1, and CA1 has now sold it to CA2, who has not yet reported to a CRA, and may or may not.

So I would be hard-pressed to tell you who to make any offer to.

I dont know why the CA dropped it from your CR, but that does not mean they, the OC, or another CA, is out of the picture.  Someone out there still owns the debt, and will forever, until paid.

You certainly dont want to make a PFD offer to CA1, for, as you have said, there is nothing to delete on their part.  But paying them may forclose any future reporting, and can certainly be included as a condition of payment.

I would call Verizon and find out who owns the debt.

As for expiration of the SOL, that is great in that it offers you an absolute legal defense should anyone sue you for collection of the unpaid debt, but it has nothing to do with credit reporting.