2 different companies reporting the same account.
Date: Wed, 10/25/2006 - 13:25
what are the laws regarding the reporting of credit information to a CR.
I had a card that was charged off in mid 2001 and I see the chargeoff on my CR, I also see another company that has aquired the charge off and is now reporting it as well.
I had a card that was charged off in mid 2001 and I see the chargeoff on my CR, I also see another company that has aquired the charge off and is now reporting it as well.
The original company will mark a zero balance on the account aft
The original company will mark a zero balance on the account after they sell it off to some collection agency. The latter one will become the current creditor and will have the balance with them. The original creditor will also appear in your file.
that's what I thought. can they still collect on an account t
that's what I thought.
can they still collect on an account that was COed 5 years ago?
Yes they can collect even if it is 20 years old. The debt is leg
Yes they can collect even if it is 20 years old. The debt is legitimate and the company can try to recover it anytime. But under the federal laws, you get the protection from being sued if the debt is past the SOL.