Jump to content

Cap 1 AND JDB reporting same debt on CR?


JessEA
 Share

Recommended Posts

My husband's cap 1 health loan defaulted, and was sold to a JDB, but now they're both reporting the same account on his reports, so it's like a double negative for one account. Is that legal? I always thought if the debt was sold, the OC either removed their tradeline or at least reported it as sold/transferred.

Link to comment
Share on other sites

My husband's cap 1 health loan defaulted, and was sold to a JDB, but now they're both reporting the same account on his reports, so it's like a double negative for one account. Is that legal? I always thought if the debt was sold, the OC either removed their tradeline or at least reported it as sold/transferred.

Are you sure the debt has been sold? Just because the debt has been charged off doesn't mean it's been sold.

Link to comment
Share on other sites

I'm assuming it's been sold, because they had a lawsuit against him and when we fought it, they dismissed without prejudice...and then a few weeks later I got the collection notice in the mail from Northland Group, statiing the the debt has been assigned to them by Cap 1. But they're both reporting the full balance, and Cap 1 is not reporting as sold/transferred.

Link to comment
Share on other sites

I'm assuming it's been sold, because they had a lawsuit against him and when we fought it, they dismissed without prejudice...and then a few weeks later I got the collection notice in the mail from Northland Group, statiing the the debt has been assigned to them by Cap 1. But they're both reporting the full balance, and Cap 1 is not reporting as sold/transferred.

If Cap1 is not reporting the debt as "sold/transferred", then Cap1 still owns it. Northland is merely collecting for them. To make sure, give Cap1 a call, and ask them if they own the debt or if they've sold it.

If they own it, both entities can report a balance. If Cap1 has sold it, they should report a -0- balance or "NA" where it says balance.

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.