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The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Ask me about dealing with/suing/being sued by debt collectors!
 
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Furry Neo
Nov 18, 2003

Whoa.
 I'm helping my cousin get his credit sorted out, and he has a revolving account from BoA with a limit of $1000, a past-due of $0, and a payment status of "charge-off." The same account's comments, though, say "transferred to another lender or claim purchased" - if I'm reading things correctly, shouldn't it be either charged off or transferred, but not both?

* # ¿ Feb 2, 2010 07:59
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# ¿ May 7, 2024 13:53
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Furry Neo
Nov 18, 2003

Whoa.

CubsWoo posted:

Typically this is their way of saying "We sold your account and wrote off the difference as a loss." Is it also being reported by the debt buyer?
Apparently not; besides a bounced check, that's the only thing showing up from the three agencies.

* # ¿ Feb 3, 2010 17:16
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The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Ask me about dealing with/suing/being sued by debt collectors!