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
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
Orig Amt Date
LVNV FUNDING LLC
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
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
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.