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Verizon Charge Off Vanished and returned as a collections

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Verizon Charge Off Vanished and returned as a collections

I owed verizon from aprox 2-3 years ago, showed on credit file as verizon for 880.00. Recently I went into Verizon and they told me that I did not owe a previous balance.  I sign up a few days later, I check and it has come off my credit report.. Recently, It appeared under a collections company for the 880.00. Has anyone had a similar expierience with Verizon? I owed ATT, +10 Years ago and it completely vanished, never went to collections or anything. 

 

 

Thanks





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1 REPLY 1
Legendary Contributor

Re: Verizon Charge Off Vanished and returned as a collections

If a creditor sells a debt, then you no longer owe the creditor, you then owe the debt to the new owner.

In hat situation, the creditor cannot accept payment, as you no longer owe any debt to them.

A creditor is not required, after then sell a delinquent debt, to deleter their account, but can choose to do so.

All they are required to do is to update the balance to $0.

 

The new ower can report their collection on the debt.

It is proper and very common.

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