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Debt Written off in 2000


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THe OC apparently WO the debt in 2000 per the print out I received from the CA as a result of a DV.

The OC doesn't report to the CRAs; however, the CA does.

My first question is this: The OC turned the debt over to a CA after writing it off. Is that legal? I don't believe they sold the debt.

THe CA has been harrassing me and probably reporting on my credit report since 01 or 02. When will it drop off?

My name is spelled wrong.

I know I owe this money and I want to pay it, but I refuse to pay the CA. I want to get them out of the picture and off my report, then pay the OC when I get the money.

Anyone have any ideas?

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What OC we talking about here. A CC would continue to report, if they could. The magic words you're looking for is "sold to another lender", which makes the CA hassling you now a JDB. And, yes, if indeed the OC actually did "write off" the debt, they can legally sell the right to haslle you to a JDB for pennies on the dollar.

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Its hard to tell. Technically, a creditor can WO off a debt (which means take a charge against income for tax purposes) but still continue to own it...and then, they'll "assign" (as in "contract with") a CA to hassle you.

On the other hand, if the creditor thinks there's little chance they'll get any money out of you, they'll take their tax write off, and then "assign" (as in turn over all rights to collect) to a JDB.

The terms are intentionally confusing.

I'd suggest you call the OC with a "...what the heck is this...did I owe you money...did you sell the debt..." kind of attitude and see what they say.

Don't call the CA/JDB...they lie just for practice.

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Thanks for your help dude.

I'm pretty sure they still own it because my dad does contract work for them and he asked them about it a week or so ago.

They said I could pay them directly what I owe vs paying to CA with all the interest charges.

I'm thinking about asking them if they will PFD but I don't have the money right now.

If I could get the CA to delete the debt, I could set up a payments to the oc.

Any ideas?

It should fall off Apr 08 according to Experian.

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