Collections limbo

Anonymous · ‎07-27-2020

I had a TOTAL Visa card through TBoM that was charged off and sold. The company that it was sold to (LTD FS) has no record of this account. The original creditor says they no longer own the account and cannot give me any information. How can I pay a debt that is owned by no one?

gdale6 · ‎07-27-2020

@Anonymous wrote:
I had a TOTAL Visa card through TBoM that was charged off and sold. The company that it was sold to (LTD FS) has no record of this account. The original creditor says they no longer own the account and cannot give me any information. How can I pay a debt that is owned by no one?

If total visa is reporting 0 balance then they have sold it. If the co they sold it to has no record not much you can do until someone contacts you about it or puts a new collection TL on your credit report. Welcome to myfico

Anonymous · ‎07-27-2020

How do you know that it’s in collections? If there is a collection on your credit report, it will have the contact information there, if not don’t worry about it.

Anonymous · ‎07-27-2020

The TOTAL/TBoM charge off is showing on my credit reports, so I reached out to try and pay. TOTAL gave me the number of the company that supposedly bought my account, but that company has no record of owning my account and says to take it up with TOTAL. It's been three months of back and forth with no resolution. I was hoping for a goodwill deletion from TOTAL, as its the only negative on my report, but I might just wash my hands of the entire thing.

Anonymous · ‎07-27-2020

Does it show as a paid chargeoff or an unpaid chargeoff?

Anonymous · ‎07-27-2020

Balance is zero. It just says "charge-off". In the comments: "Transferred to another lender Purchased by another lender".

Anonymous · ‎07-27-2020

@Anonymous wrote:
Balance is zero. It just says "charge-off". In the comments: "Transferred to another lender Purchased by another lender".

There is a current status field that will say paid, paid settle for less, or charge off

there is a payment status field that will still say charge off

it's good that it's zero because it's not counting against your utilisation however it would say $0 if it had been sold to another entity as it says in the comments.

pull your reports from annualcreditreport.com

I don't know let me page @RobertEG

Anonymous · ‎07-28-2020

As I understand this:
1) you have charged off account with TBoM, showing zero balance and sold off

2) some collection agency owns this account, but hasn't contacted you or reported it so you have no idea who they are

If you can't track down whomever owns the account, it seems you can only wait to see if you eventually get a dunning letter from some CA and then do whatever you can to prevent their collection account from reporting.

As I understand it - if a collection for this ends up on your report, a GW from TBoM would probably be deeply overshadowed by it.

Anonymous · ‎07-28-2020

Today I was contacted by another company, Fidelis Recovery, regarding this account. They say they are now the collection agency responsible for my debt. Calls to both TOTAL and LTD cannot confirm that this is legit. I really have no idea who to believe.

gdale6 · ‎07-28-2020

@Anonymous wrote:
Today I was contacted by another company, Fidelis Recovery, regarding this account. They say they are now the collection agency responsible for my debt. Calls to both TOTAL and LTD cannot confirm that this is legit. I really have no idea who to believe.

You can DV them if you wish or settle in exchange for them not reporting on your CRs. Highly doubtful the frontline CSRs at the OC will know who bought it.