Issues With First Premier

[Anonymous]

First Premier was my first credit card and it didn't go well. It ended up being closed and charged off. That was 2017-2018. After charging off my account they are reporting it again as a fresh balance and when I called they said they don't have to explain themselves because they are the original creditor? Can they do that? I'm not sure what to do now bc they said they aren't obligated to verify anything.

[FireMedic1]

What is the balance showing right now. Until its paid it updates each month.

[dragontears]

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@Anonymous wrote:

First Premier was my first credit card and it didn't go well. It ended up being closed and charged off. That was 2017-2018. After charging off my account they are reporting it again as a fresh balance and when I called they said they don't have to explain themselves because they are the original creditor? Can they do that? I'm not sure what to do now bc they said they aren't obligated to verify anything.

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Yes, they can report the delinquency every single month for 7 years as long as they don't sell the account to a collection agency. 

The account is yours so your options are: 

1. Pay it in full 

2. Negotiate a lower amount and pay it 

3. Wait until 7 years have passed and hope they don't sue you in the mean time 

[Anonymous]

It's showing $598 but they already charged it off. It was already sold to a collection agency. They sold it in 2018

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@FireMedic1 wrote:

What is the balance showing right now. Until its paid it updates each month.

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[Anonymous]

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@dragontears wrote:

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@Anonymous wrote:

First Premier was my first credit card and it didn't go well. It ended up being closed and charged off. That was 2017-2018. After charging off my account they are reporting it again as a fresh balance and when I called they said they don't have to explain themselves because they are the original creditor? Can they do that? I'm not sure what to do now bc they said they aren't obligated to verify anything.

---

Yes, they can report the delinquency every single month for 7 years as long as they don't sell the account to a collection agency. 

The account is yours so your options are: 

1. Pay it in full 

2. Negotiate a lower amount and pay it 

3. Wait until 7 years have passed and hope they don't sue you in the mean time 

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It was sold in the beginning of 2018 and they had the balance as $0 with them. Now they put the balance back this year and are reporting it again.

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[dragontears]

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@Anonymous wrote:

It's showing $598 but they already charged it off. It was already sold to a collection agency. They sold it in 2018

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@FireMedic1 wrote:

What is the balance showing right now. Until its paid it updates each month.

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If it showing a balance they didn't sell it to a CA, they only assigned collection authority to a CA.

A charge off doesn't mean that the money isn't owed nor that they can't try to keep collecting, it is solely an internal accounting measure so banks don't inflate their books

[Anonymous]

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@dragontears wrote:

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@Anonymous wrote:

It's showing $598 but they already charged it off. It was already sold to a collection agency. They sold it in 2018

---

@FireMedic1 wrote:

What is the balance showing right now. Until its paid it updates each month.

---

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If it showing a balance they didn't sell it to a CA, they only assigned collection authority to a CA.

A charge off doesn't mean that the money isn't owed nor that they can't try to keep collecting, it is solely an internal accounting measure so banks don't inflate their books

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It was a zero balance since 2018. Now they are putting that im missing new payments and took the closed status off the account. This is normal practice?

[dragontears]

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@Anonymous wrote:

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@dragontears wrote:

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@Anonymous wrote:

It's showing $598 but they already charged it off. It was already sold to a collection agency. They sold it in 2018

---

@FireMedic1 wrote:

What is the balance showing right now. Until its paid it updates each month.

---

---

If it showing a balance they didn't sell it to a CA, they only assigned collection authority to a CA.

A charge off doesn't mean that the money isn't owed nor that they can't try to keep collecting, it is solely an internal accounting measure so banks don't inflate their books

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It was a zero balance since 2018. Now they are putting that im missing new payments and took the closed status off the account. This is normal practice?

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That doesn't sound normal, are you saying that it is now reporting as open?

Did you pay the CA for this debt? 

[Anonymous]

Yes. It's now reporting as an open account and my payment percent on my credit report went down. It was at 97% before and went down. I wouldn't have noticed otherwise

[Anonymous]

I never had a problem with them showing that it's a derogatory account, it's the new missed payments I'm trying to understand.