Can the OC still report the debt if they sold it off to a CA

Submitted by scobbranger on Sat, 06/19/2010 - 16:29

If I get a PFD agreed to by the CA will the OC's entry remain

If so is it better yo have one less entry ? I have 3 past due accounts they are being reported by the OC & the CA's so I have 6 negative entries on my credit report . It is showing as Status: Transferred,closed.& Purchased by another lender.

Can the OC pull back the account at this point ? If not is it better to get PFD with the three CA's ans have those entries removed . If I was able to do that the three original OC entries will still be there ? So is three better than 6 even though they are duplicates ?


Hi scobbranger,

Welcome to this community :)

Yes, if the CA agrees to the "Pay for delete" (PFD), the entires made by the original creditor (OC) will remain on your credit report. The entries by the OC can be removed only by the OC.

Can the OC pull back the account at this point?

Yes, the OC can pull back the account from the CA, only if the account has not been sold off to the CA.



Mon, 06/21/2010 - 11:35 Permalink

aaron is correct. When it comes to debt reporting to the three credit agencies only two people/companies can report a debt at one time. Those are always the original creditor and one collection agency. The collection agency that reports is usually the one who has ownership of the debt. If you ever see two different collection agenies reporting the same debt you can dispute it.

Tue, 06/22/2010 - 02:47 Permalink

Seems really unfair to report the same debt twice. It's almost like a 'double whammy' on your CR. I have had negative accounts, on my CR, with the OC and a CA. According to the OC the account wasn't sold to a CA and I was STILL dealing with the OC. However...the CA would constantly call and say "you need to deal with us", etc. That entire situation was very confusing to deal with.

Tue, 06/22/2010 - 16:34 Permalink

Can the CA remove the entry fro my Credit Report if we agree to a pay for delete ? I had three old accounts two agreed to do it and have sent me emails to confirm saying they will delete it and then have the OC report it as Paid in full . One is saying that no CA can remove an entry from your report . That I must pay it first then they will notify the three Credit agencies and then the agencies will remove it ? Which one is right >

Wed, 06/23/2010 - 20:47 Permalink

Yes...ANY CA can remove their 'inquiry' from any credit report, if they are the ones who now 'own' your account. That's if the CA agrees to the 'Pay to Delete' 9hopefully the consumer has proof of this). You said you had e-mails...did you print them out? This way you DO have the proof what was agreed upon.

Thu, 06/24/2010 - 02:31 Permalink
Creditless (not verified)

The OC is reporting the their debt twice on my reports, but showing different amounts on two of the reports.

Mon, 07/02/2012 - 20:42 Permalink

It doesn't make sense to me why there would be two different amounts on two different CRA's. However, did (and still is) happening to me. what I have done a few times (and it actually worked once) was to 'dispute' the OC and the CA reporting the same debt. It took a while, but, the debt reported by the OC was removed because it was confirmed the debt was bought by the CA. You may want to try this for yourself. Hope this advice helps you abit.

Tue, 07/03/2012 - 18:46 Permalink