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Dexter7877

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Charge-off now reported as collection and my score dropped
Have an account from Verizon that has been reported as a charge-off for two years on my credit report. Today I see that it was removed from the charge-off and placed for collection after two years. In addition, the collection company has given it a date of just this month when its two years old. My score dropped quite a bit. It's the same two-yr-old debt and now it looks as if it's just a month old. Can they do that?

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Unfortunately the original creditors can and do sell or transfer/refer the debt to collection agency. The collection agency's "open" date is when they received the collection authority on that debt, and that date bears no relevance to the removal date or the Date Of First Delinquency.

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