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ItsSham22

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Can a credit card company still report after selling the debt?
First Premier sold my debt to Jefferson Capital. I understand that does not remove the charge off status. However, 2 days ago they deleted all of the payment/late history (which dates back to 2009) and reported my account as charged off, again. My fico score dropped 32 points. Can they do that?

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In general.  A debt should only show up 1 time.   You can dispute with the credit reporting agency.  As part of your dispute, you'll claim that the debt collector does not have legal standing to collect on the debt.  In fact, you could do this for both of them at the same time to show that they are the same debt.  Likely, one will be verified, the other deleted.

Reply by
ItsSham22

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Helpful to 12 out of 13 people

Thank you so much for your response! It doesn't actually show up twice. First premier sold my account to jefferson capital in 2013. I called them to get all the info that I possibly could and this is what a rep told me. I recorded the call and asked her to verify several times that they sold and no longer own the debt. The account was charged off in 2010 and sold in 2013. This is what had been reflected on my report as well. All of a sudden, they reported it as charged off again this month and everything in the history section magically disappeared. Are they allowed to do that? 

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Unfortunately it sounds correct

Helpful to 3 out of 3 people

When the new creditor buys the account, in this case Jefferson Capital, the original account, Premier, should have been marked either transferred or closed. The new creditor, Jefferson Capital, will try to collect the debt and mark the new account as current balance owed. If the don't think they will collect, they can Charge Off the debt again. What is important to remember and keep track of is the delinquency date from the original account, because seven years from that date is when this delinquency should drop off your credit file. The new creditor, Jefferson, should not have been able to delete your payment history with the original account from Premier. That could have only been done by Premier and it would have been done in error. Again, the most important of all that history is your original deliquency date. Hopefully you have an older copy of your credit report that showed the history of the original (Premier) account and thus you can write them and the CRA's (Credit Reporting Agency) simultaneouslyand ask them to correct the error. Good Luck :)

Reply by
ItsSham22

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Helpful to 0 out of 1 people

Thank you for your help, Unitynliberty! I appreciate it. 

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