kanakanaka Posted September 7, 2007 Report Share Posted September 7, 2007 I have 2 accounts with capital one in fl1) They are Charged off 2) The CA that has bought them has yet to report to the CRA's that they are collecting said accounts yet they send me mail all the time saying that i owe them money..(i didnt dv cause i'm outside the initial 30 day window3) Meanwhile, the OC who has charged off the account continues to report increasing amounts every month to the CRA?!?!?!?!IF an account if Charged off, an OC can no longer collect a balance or report one that mysteriously increases right?Isnt that a violation?My only fear is that requesting an investigation to the OC will force them to sue?? Link to comment Share on other sites More sharing options...
Amerikaner83 Posted September 7, 2007 Report Share Posted September 7, 2007 2) The CA that has bought them has yet to report to the CRA's that they are collecting said accounts yet they send me mail all the time saying that i owe them money..(i didnt dv cause i'm outside the initial 30 day window)Nothing wrong with that. They don't have to report to the CRAs as soon as they get the debt. Besides - "charge off" is just an accounting term. Unless it says somethign like "account sold / transferred"...the OC still owns the debt, the CA is just collecting on their behalf.3) Meanwhile, the OC who has charged off the account continues to report increasing amounts every month to the CRA?!?!?!?!Like I said above - if it doesn't say "transferred / sold" on your CR, then the OC still owns it. In addition, the balance can increase (due to interest) if in your original application it says they can. Or if not in your original app, if it's an amendment to the CC agreement they can as well. Most times they add it as an amendment to the CC agreement, then you use the card after you receive the amendment which signifies your acceptance of the revised terms.....it's legal but shady, IMHO.IF an account if Charged off, an OC can no longer collect a balance or report one that mysteriously increases right?Isnt that a violation?See above.My only fear is that requesting an investigation to the OC will force them to sue?? Are you within SOL? If so, then yes they can sue you. Link to comment Share on other sites More sharing options...
kanakanaka Posted September 7, 2007 Author Report Share Posted September 7, 2007 interesting... thank you...I have a lot of collections that say transferred, sold/ 180 days late??? how can they report how late it is if it's closed and sold?Do you also know what the SOL is on FL revolving accounts regarding getting sued? Link to comment Share on other sites More sharing options...
Moriah4 Posted September 7, 2007 Report Share Posted September 7, 2007 Check the front page of the site its ok for FL. Doesn't work for KY but OH well! http://www.creditinfocenter.com/rebuild/statuteLimitations.shtmlIf you want it refined check thru DiveMedics post and threads He lives in FL and has won several suites or settlements. Link to comment Share on other sites More sharing options...
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