NeedRelief Posted March 19, 2007 Report Share Posted March 19, 2007 This company supposedly now has my charged off account obtained from an original creditor, and this account shows on my credit report as having a $0 balance, and I didn't pay it off. Does this mean Elite paid if off, and they are now after me to pay them? Can they add interest on this account? Are they a collector or debt buyer? Link to comment Share on other sites More sharing options...
CarolinaBlueEyes Posted March 19, 2007 Report Share Posted March 19, 2007 they didn't pay it off but they probably bought it.. they pay only pennies for these accounts and yes they can come after you.. add interest and even sue within the SOL time frame if they choose too Link to comment Share on other sites More sharing options...
NeedRelief Posted March 19, 2007 Author Report Share Posted March 19, 2007 they didn't pay it off but they probably bought it.. they pay only pennies for these accounts and yes they can come after you.. add interest and even sue within the SOL time frame if they choose tooIf they didn't pay the debt, why does it say $0 balance on my credit report? Link to comment Share on other sites More sharing options...
willingtocope Posted March 20, 2007 Report Share Posted March 20, 2007 That's the correct way of reporting a "written off / sold to another lender" account. The OC sets the balance to $0. They've sold it. Link to comment Share on other sites More sharing options...
CarolinaBlueEyes Posted March 20, 2007 Report Share Posted March 20, 2007 That's the correct way of reporting a "written off / sold to another lender" account. The OC sets the balance to $0. They've sold it. what willing saidexpect the entire amount to turn up under the new buyers name.. and no you debt was not paid off.. it was written off Link to comment Share on other sites More sharing options...
NeedRelief Posted March 21, 2007 Author Report Share Posted March 21, 2007 Thanks willing and carolina. Link to comment Share on other sites More sharing options...
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