mwally007 Posted February 15, 2007 Report Share Posted February 15, 2007 Hi guys,The original creditor of a debt (Paypal/GE) is continuing to report the debt each month as a charge off even though they sold the debt to Performance Capital Management two months ago.So I am getting a 'charge off' posting every month from Paypal and a 'collection' posting from the new owner. Is there anything I can do about this?I have already sent a DV to PCM, but this just seems a little unfair - it is doing twice the damage to my report. Link to comment Share on other sites More sharing options...
LadynRed Posted February 15, 2007 Report Share Posted February 15, 2007 The original creditor of a debt (Paypal/GE) is continuing to report the debt each month as a charge off even though they sold the debt to Performance Capital Management two months ago.No, they are not. What they are reporting is the STATUS of that debt as of the given date - and that is that it is a Charge-off - always will be. The important date to note, then , is the DATE OF STATUS and that date should coincide with the actual charge-off date and should not change.If they truly SOLD the debt, it should have a ZERO balance showing too. Link to comment Share on other sites More sharing options...
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