debt no longer owned by original creditor

Date: Wed, 09/02/2009 - 11:15

Submitted by becky.nodebt
on Wed, 09/02/2009 - 11:15

Posts: 67 Credits: [Donate]

Total Replies: 3

I sent out a request for direct negotiations to a credit card company that has negative marks on my credit file. they sent me a letter back saying:

The above referenced account is no longer owned by *******. It has been sold to HILCO Receivables. If you have any any questions, or need additional information, please contact them.

What should my next step be? Should I negotiate with the Collection Agency for pay for delete? I don't have the CA on my file -- however, I DO have the OD on my credit file -- should I dispute this with the credit bureaus???

Can I send a cease and desist letter to the CA and re-request direct negotiation with the OD?

Please help!

The OC is entitled to report for 7 years from your date of last

The OC is entitled to report for 7 years from your date of last activity. Once the account is sold, the OC no longer owns the debt and rerequesting direct negotiation is worthless. If you cease the CA, they could just turn around and start legal action against you. DV the CA first.

lrhall41

Submitted by SOAPLADY on Wed, 09/02/2009 - 11:37

( Posts: 17315 | Credits: )

thanks for the heads-up! i will send a DV to the CA shouldn't t

thanks for the heads-up! i will send a DV to the CA

shouldn't the OD be reporting $0 balance since it was sold off? can i send them a letter requesting to re-age the account if i am in the process of settling with the CA?

lrhall41

Submitted by becky.nodebt on Wed, 09/02/2009 - 13:45

( Posts: 67 | Credits: )

Does the original creditor report the old debt on your credit re

Does the original creditor report the old debt on your credit report? if not, the debt buyer should no longer be reporting it, either.

lrhall41

Submitted by on Tue, 09/08/2009 - 18:18

( Posts: | Credits: )