kepok Posted August 13, 2003 Report Share Posted August 13, 2003 I am closing on a house in 2 days and yesterday the lender tells us that we have to settle an old charge off account in order to close. This account is with household bank. However, household bank sold the account to CreditTrust. The Household bank account shows a $0 balance, but shows a past due amount of $5400. If the account has been sold can the creditor still list a past due amount? IF the account has been sold can you still settle with the OC or can they not legally collect on that account anymore since it's been sold and they've already collected money on it.Thanks for all your help! Link to comment Share on other sites More sharing options...
kb9tbq Posted August 13, 2003 Report Share Posted August 13, 2003 The OC should be showing zero balance across the board, they sold the account, so no one owes them money any more on this matter.If you already paid money to the CA then that should be a mute subject, if you have the recipt from your payment with the CA - show that to the mortgage lender. Link to comment Share on other sites More sharing options...
md Posted August 13, 2003 Report Share Posted August 13, 2003 In a perfect world, you would be able to call up the CRA and tell them that the reporting is inconsistent and does not make logical sense. They will have you explain why, they will correct it, and you will be good to go. Kind of like an account that is showing as currently past due, but with a zero balance. You would think some algorithms could be developed to prevent such stupidity. Anyway, sorry you are having the problem and best of luck to you. It may be possible to call the OC and ask what the balance you owe them is. They will probably tell you zero. You can ask for that in writing and explain that your CR is messed up. You may be able to call the CRA like stated above and pray that logic ensues...pray hard though, most likely they will just tell you that they will put it under investigation for you...how nice of them. Link to comment Share on other sites More sharing options...
kepok Posted August 13, 2003 Author Report Share Posted August 13, 2003 Thanks you very much for your responses. I'm not sure what the problem is because the account says it was sold, and the balance is $0 on the credit report. DH has tried calling the OC and they say there is a balance.. so I'm not sure what's going on or how we'll fix this in 1 days time. Link to comment Share on other sites More sharing options...
kb9tbq Posted August 13, 2003 Report Share Posted August 13, 2003 If the account was sold how can there be a balance?!?I would call that OC back up and tell them that, and ask what their explaination is on this part. Link to comment Share on other sites More sharing options...
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