Charge Off after only 60-90 days (A on BBB)

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Sub: Charge Off after only 60-90 days

Sun, 11/22/2009 - 22:59

I started with 8 accounts total that I needed to settle off the bat- 2 are now settled, so I'm now left with 6 to go...

2 are supposedly in collections (I sent DV letters last week but no response yet). United Recovery has by HSBC account and apparently Redline Recovery has my BOA account.

My question is- how come they sent these 2 accounts went to collections when they were only 60-90 days delinquent when they charged off? At this point they are just past 90 days due but I thought they generally don't charge off until 180 days? Just curious if anyone has had experience with the CC charging off early- could this be a good sign or maybe a bad sign?

Any input is appreciated!

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OZZIE69

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Sub: #1 I have an American Express 90 days old and sent to United RecoveThu, 11/19/2009 - 12:48

I have an American Express 90 days old and sent to United Recove

I have an American Express 90 days old and sent to United Recovery. From what I understand they are not charged off. United Recovery is a third party that some cards use to do the calling/collecting for them.

maggie22

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Sub: #2 My thoughs as well, The accounts are probably just assigned to tThu, 11/19/2009 - 13:07

My thoughs as well, The accounts are probably just assigned to t

My thoughs as well, The accounts are probably just assigned to them not yet charged off. Both UR and RR are referenced here in other posts. My Amex account went to Zwicker with letters received from both Amex confirming that they sent it to Zwicker and a letter from Zwicker. I haven't yet sent Zwicker a DV and don't know if I should. I was hoping it would get bounced to someone else as I heard they're a pain to deal with. I believe there are decent settlements through both RR and URS...

SOAPLADY
LYNNINMN@AOL.COM

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Sub: #3 When I was collecting, sending an account to a CA was not uncommThu, 11/19/2009 - 13:32

When I was collecting, sending an account to a CA was not uncomm

When I was collecting, sending an account to a CA was not uncommon....it is or was called "early outs". They work on behalf of the creditor and all payments are sent directly to the creditor.

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neveragain09

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Sub: #4 Thanks for the responses guys!Fri, 11/20/2009 - 06:04

Thanks for the responses guys!

OZZIE69

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Sub: #5 Soaplady, Are you then saying it was probably assinged raFri, 11/20/2009 - 06:47

Soaplady, Are you then saying it was probably assinged ra

Soaplady,

Are you then saying it was probably assinged rather than sold to URS?

URS letter did say make check payable to "American Express".

snickers

Sub: #6 Yes. I currently have Amex accounts at URS & GC Services. AmexSun, 11/22/2009 - 22:59

Yes. I currently have Amex accounts at URS & GC Services. Amex

Yes. I currently have Amex accounts at URS & GC Services. Amex is just sub-contracting these companies to do the collections and Amex still owns the debt. BUT apparently you can get a better deal working with URS because I got a letter from Amex saying URS could offer me 0% interest, lol.