Sign in to follow this  
Ronalddog

Can an OC and CA put derog report on same account?

Recommended Posts

Yes they can... if the OC just asigns the debt.. sometimes you will see both OC & CA reporting balances on the same debt.

If at any time, the OC recalls the collection from the CA... then they must update the CRA to remove the tradeline account since it no longer belongs to them. (but most times they don't until you call them up on it).

If the debt has been sold then the OC should report charge off zero balance... transfered or sold to another lender. And then the CA will show collection / charge off and balance.

Now if the CA sells the debt to yet another CA... then they will still remain on the credit report but updated to zero balance ... transferred or sold to another lender and the new CA will now report reflecting the balance..

That gets to be a nightmare... especially if you run into collection agencies like OSI that has several DBAs meaning that if you mess with one trying to validate the debt (they play a shell game and sell the debt to a DBA) and report a new account... I know this company has more then 3 DBAs!!!

Share this post


Link to post
Share on other sites
Guest
This topic is now closed to further replies.
Sign in to follow this