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Is this considered a charge off?

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New Member

Is this considered a charge off?

I have two accounts showing that are connected to each other. One shows as a trade lines in collections which I believe is a charge off because it was sold to a 3rd party agency. I would like to know if the first account is in fact a charge off and also what is the date of first delinquency?

 

Trade Lines in Collection

 

Firm Name/ID

Opened

CredLim

Balance

MoPmnt

Pay Pattern

30

60

90

Account Number

Reported

HighCred

PastDue

MoRep

Account Type

Last Act

Bus Kind

Owner

Terms

Status

 

WEBBANK/FINGERHUT FRES

03-May-2015

$177

$0

N/A

9321CC

0

0

0

redacted

11-Oct-2015

N/A

N/A

   

Installment

30-Apr-2015

FP

Individual

   

Closed

9-Collection

INSTALLMENT SALES CONTRACT

HIGH CREDIT IS CHARGE OFF AMOUNT

UNPAID BALANCE REPORTED AS A LOSS BY CREDIT GRANTOR.

RECENT DELINQUENCY DATE(S): 10/15 ; 09/15

SUBSCRIBER REPORTS DISPUTE RESOLVED - CONSUMER DISAGREES

 

 

 

 

Collections

 

Creditor

Date Reported

Member Number

Balance

Industry Code

Orig Amt Date

Account Number

Orig Amt

Status

Date Assigned

Narratives

 

LVNV FUNDING LLC

30-Apr-2019

1623040

$177

 

28-Oct-2015

redacted

N/A

Closed

28-Oct-2015

 

-----------

MAXIMUM DELINQUENCY DATE : 03/17

ACCOUNT SERIOUSLY PAST DUE DATE/ACCOUNT ASSIGNED TO ATTORNEY, COLLECTION AGENCY, OR CREDIT GRANTORS INTERNAL COLLECTION DEPARTMENT.

ORIGINAL CREDITOR: WEBBANK FINGERHUT FRESHSTART

RECENT DELINQUENCY DATE(S): 04/19 ; 03/19

ACCOUNT IN DISPUTE - REPORTED BY SUBSCRIBER

CHECKING ACCOUNT LOAN PLAN

 

 

Message 1 of 3
2 REPLIES 2
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Moderator

Re: Is this considered a charge off?

Yes. You have a CO and a related collection. 

 

DOFD is whenever first delinquency occurred (30 days late).  You can find the exact  date on copies of free annual credit report 

 

 

Message 2 of 3
Highlighted
Legendary Contributor

Re: Is this considered a charge off?

What was the last Current Status reported by the original creditor?

What is the reported Payment History Profile on the original creditor account?

 

A charge-off is an accounting measure taken by a creditor that moves the delinquent debt from their books as a rceivable asset over to a non-asset accounting column, thus removing thr debt from its statement of net assets provided to others.

Sale of a delinquent debt and/or reporting of a collection is not a charge-off.

 

It is a bit unclear based only on their refereence via special comments as to wheter they actuallr reported charge-off as either the most recent (final) current status at time of sale of the debt,  or whether they specifically reported any prior monthly payment history profile status as being a CO status.

Message 3 of 3
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