Owner of account?
Date: Thu, 04/05/2012 - 09:21
To make a long story short - I had a Capital One credit card in 2010. Lost job and didn't make payments. The outstanding balance at July 2010 was $1369. According to the law firm (debt collector) that I'm dealing with, balance is now $1646 which includes interest and fees.
The DC stated that they are simply representing the company and they do not own the debt. I called Capital One and they verified the information. Yet I've been reading on the forums that once a "Charge off" has been noted on your credit, the account no longer belongs to the original creditor.
I'm seeing conflicting information and was hoping for anyone's clarity on this. I'm currently looking to pay this debt so it can be resolved, but want to be clear on who actually owns the debt. I've read that if it's the CA, it can be settled for significantly less.
Thank you in advance.
The DC stated that they are simply representing the company and they do not own the debt. I called Capital One and they verified the information. Yet I've been reading on the forums that once a "Charge off" has been noted on your credit, the account no longer belongs to the original creditor.
I'm seeing conflicting information and was hoping for anyone's clarity on this. I'm currently looking to pay this debt so it can be resolved, but want to be clear on who actually owns the debt. I've read that if it's the CA, it can be settled for significantly less.
Thank you in advance.
Sounds like the OC still owns the account. It can be charged of
Sounds like the OC still owns the account. It can be charged off with the OC still retaining ownership. They've simply hired a 3rd party collector to manage collection. I would try to work out a settlement and get it over with :)
yes
capital one rarely if ever sells debt,and they are very aggressive when it comes to lawsuits.do as ohiogal advised.
Quote:Yet I've been reading on the forums that once a "Charge of
Quote:
Yet I've been reading on the forums that once a "Charge off" has been noted on your credit, the account no longer belongs to the original creditor. |
Where are you reading this garbage???
