The designation of "Charge-off/In Collections" is often presented in commercial credit reports as a generic designation that broadly could be either or both.
A collection is usually reported by a third party who has either been assigned collection authority by the original creditor or has purchased the debt, and thus becomes the owner. The third party who is then collecting on the debt is defined under FDCPA 803(6) as a "debt collector," who can report their collection to a CRA.
However, original creditors can establish their own internal collection activities on delinquent debt.
If, in conducting collection activities internally, they use a name that might suggest or imply to the consumer that it might be a third party, the original creditor is legally defined under FDCPA 803(6) as also being a "debt collector."
The legal significance is that they then become subject to all of the provisions and requirements of the FDCPA, including the debt validation process.
If only the OC is reporting, and no dunning notice or other reporting by a debt collector has separately been made, then the showing in your commerical credit report of "Charged-Off/In Collections" should not be interpreted as your having BOTH a reported charge-off AND a collection. It your case, it likely means only that the original creditor has reported a charge-off.
You would deal with the original creditor the same as any delinquent account until such time as you have clear reporting of a separate collection.
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