NefertitiX Posted December 29, 2004 Report Share Posted December 29, 2004 I've been talking about requesting verification from OCs in another post here and someone brought it to my attention (I think Recovering Attorney) that perhaps this could be waking a sleeping dog. If the OC (in this case Discover) has alrealdy sold the debt (at least once over) and charged it off, they can't come after me for it can they Link to comment Share on other sites More sharing options...
willingtocope Posted December 29, 2004 Report Share Posted December 29, 2004 Just read your other post and RecAtt's response. I don't think there's a yes or no answer to your question. The whole area of charge off for a CC company is tied up in both FTC and IRS rules. If they did indeed sell it to someone, then by the FCRA and FTC rules, it should be listed as "sold/charged off/transferred to another lender" or something of the sort on your CR. Unless you declared BK prior to that happening, there's nothing you can do to have it removed. If you did BK, then you can send them a letter pointing out that they are violating federal BK laws by not having it say IIB.If it still says "open", then by the IRS rules they are allowed to continue to carry it on their books and charge interest and fees. If you have proof (as in a written letter from a CA saying they bought it) then you can dispute this with the CRAs by sending then a copy of that letter and claiming FCRA violations.And...if it really was sold...and you got that CA to back off, then maybe they will sell it back to Discover...in which case you'll be back to square one.Bottom line...wait for the CA to go away...then check your credit reports for the next step. Link to comment Share on other sites More sharing options...
NefertitiX Posted December 30, 2004 Author Report Share Posted December 30, 2004 Looking back through my records, I see that two other collection agencies had this account before A$$et A¢¢eptance so hopefully that reduces the chances of it going back to the OC. That being said, I'm just going to take your advice and wait to see what happens... Link to comment Share on other sites More sharing options...
luperu123 Posted January 14, 2005 Report Share Posted January 14, 2005 If they did indeed sell it to someone, then by the FCRA and FTC rules, it should be listed as "sold/charged off/transferred to another lender" or something of the sort on your CR. Unless you declared BK prior to that happening, there's nothing you can do to have it removed. I have been trying to get and OC to validate a debt , they have listed sold to; CA, and I all I received was a letter saying they don't have the account anymore they sold it to the CA. Did I make a mistake by asking them to prove that this debt is mine???! Link to comment Share on other sites More sharing options...
NefertitiX Posted January 15, 2005 Author Report Share Posted January 15, 2005 luperu, what are you trying to accomplish by having them validate? if the OC is listing on your credit report then you can take the letter they gave you and have the TL removed because they obviously don't have the records to back up the info they are reporting. that's what i'm trying to do. Link to comment Share on other sites More sharing options...
luperu123 Posted January 15, 2005 Report Share Posted January 15, 2005 The only thing worth accomplyshing, getting them off my credit report. I have sent a copy of all the certified validation letters I sent to the OC to Experian, I am just waiting to see what happens now. Link to comment Share on other sites More sharing options...
NefertitiX Posted January 15, 2005 Author Report Share Posted January 15, 2005 In that case, no I don't think you did the wrong thing and hopefully it works out for both of us! Link to comment Share on other sites More sharing options...
luperu123 Posted January 15, 2005 Report Share Posted January 15, 2005 Yes, hopefully it will Link to comment Share on other sites More sharing options...
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