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Question Regarding Original Creditor

Valued Member

Question Regarding Original Creditor

On my CR's is a debt for Valero Credit Card.  I emailed them a PFD letter and their reply was that the account was placed with FMA Alliance and that I needed to deal with them.  I have no problem with that, however I thought if the OC sold the account to a CA that they had to report a zero balance?  They are still reporting a balance.  Is there anything I can do about this?



Starting Rebuilding 4/8/16 My Fico 528
TransUnion 544
Experian 519
Equifax 529
Current TransUnion 584
Experian 630
Equifax 628
Message 1 of 4
Community Leader
Legendary Contributor

Re: Question Regarding Original Creditor

Referral to a debt collector does not necessarily mean that the OC sold the debt. 

Message 2 of 4
Established Member

Re: Question Regarding Original Creditor

I called the OC on one of my assigned collections and asked to be transferred to supervisors every time I called until I finally got one who let me PIF for recalling the item in collection. Phone not always the best route to go, but it is worth a shot

Starting Score: 570 TU (7/2010) 556 EQ (7/2010)
Current Score: 685 TU (11/02/10) 640 EQ (11/02/10)
Goal Score: 750+ all by 10/2011

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Message 3 of 4
Community Leader
Legendary Contributor

Re: Question Regarding Original Creditor

"Recalling a collection" is not a legal term under the FCRA.  All it really means is that the OC took full payment from you, and cancelled further  authority of the debt collector to take any further action on collection of the debt.  That in no way requires the CA to be deleted from your CR.  The CA reporting was not done by the OC, and they OC cannot delete it or requrie the debt collector to delete it.

Maybe the CA will delete, but they certainly dont have to.

Message 4 of 4