beeboah Posted March 5, 2007 Report Share Posted March 5, 2007 Say the account charged off in August 2004. Should there still be a balance reported?The Original Creditor is not reporting that they sold the account to anyone, but indicates that they charged the account off.The account still shows the balance.Is this right? If not, where can I find proof in the FCRA that it is wrong?Thanks Link to comment Share on other sites More sharing options...
qtptute Posted March 5, 2007 Report Share Posted March 5, 2007 It is an accounting term. It has no relationship to the validity of the debt. There is no part of the FCRA that says that they cannot put the balance owed and state charged off. Link to comment Share on other sites More sharing options...
beeboah Posted March 5, 2007 Author Report Share Posted March 5, 2007 ok, thanks Link to comment Share on other sites More sharing options...
divorce&bankruptcy Posted March 6, 2007 Report Share Posted March 6, 2007 Can an account be listed as a charge-off and sold numerous times to other agents for the same balance and can a charge-off be listed after included in bankruptcy? Should I just dispute the validity of all of these duplicates and hope they just dissappear before I send the CRA the discharge papers? Link to comment Share on other sites More sharing options...
willingtocope Posted March 6, 2007 Report Share Posted March 6, 2007 Can an account be listed as a charge-off and sold numerous times to other agents for the same balance and can a charge-off be listed after included in bankruptcy? Should I just dispute the validity of all of these duplicates and hope they just dissappear before I send the CRA the discharge papers?If the account was CO prior to the BK (BK 7, I assume), it can continue to listed as CO afterwards. If it was sold prior to the BK, then yes it can still be shown as sold. However, any further liability for that debt would be discharged by the BK...so, whoever bought it would be out of luck. I'm not quite sure of the procedure, but I'd suggest you look into disputing the OC as IIB...and then dispute the JDB's based on the fact that their was not debt to sell. Link to comment Share on other sites More sharing options...
Recommended Posts