lapoolboy

Question on transferred debts....

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I had an account with Friedman's back in 2000. They "assigned" the debt to Arrow to collect. Arrow fell off all my reports without me even disputing it. Friedman's had the account listed as "charged-off." My question is this, how can Friedman's assign a debt for collection with a CA if it is charged-off? Apparently, Friedman's still owns the debt, they just assigned Arrow to collect the charged-off amount? Friedman's is still reporting a balance past due. Should I just settle with them, maybe a PFD? What do I do with them since they are the OC and there are no other CAs trying to collect it?

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I think CHARGE-OFF is more of an Account Status term ie (Paid,Closed,Settled,Open etc etc) and probably an Accounting term to specify how the account was handled.

Friedman just sounds like it is the original collector. I dont know why Arrow fell off, maybe they went out of business or the CRAs made an error.

But until it falls off your CR, it will still be reported as a CHARGE-OFF and unpaid.

If you have the funds, I would contact Freidman's and see if you can do a PFD. If you got that account in the 2000, it would seem like it is proably about to fall off within the next year, depending on when your last payment was. But I definately would not go awaking sleeping giants (Arrow) and DV'ing them.

If they dont agree to do that, I would start knitpicking everything and start getting some DV letters going as well.

- Mike G.

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I am definitely not going to DV Arrow. They're not even on my reports any more so there's no need to. I just wish I could get rid of the OC, Friedman's. I think I'm gonna try a dispute with the CRAs and if that doesn't work, I'll try for a PFD with Friedman's instead. It's got a couple more years until the 7-year fall off date since DOLA.

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Friedman's is still reporting a balance past due. Should I just settle with them, maybe a PFD? What do I do with them since they are the OC and there are no other CAs trying to collect it?

It was charged off in 2000?

If so, then that is a very long time ago. In addition to disputing with the CRAs, I would formally ask (that is, do this in writing) Friedman that you want proof that you did in fact have a debt with them.

Odds are they may have very shaky (if they have anything at all) proof that you do have a debt with them...

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Don't underestimate your state statutes. I found out by scrutinizing California's that we can DV OCs here. Have even gotten Crap One off my reports that way. I thought maybe "lapoolboy" might be Los Angeles. It helps to put your state in your profile so it shows up under your av and people who are well versed in Louisiana's laws will share with you :D

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