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Question By
worrygal

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why my charged off accts shown as open now?it said that it was bought by another lender.What to do?

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Top Contributor
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Pay your bills.

They are charged off (and reported as a bad debt) because your weren't making payments and you were not responding to their collection attempts.  To get back some of the mon ey they have lost due to your not following through on your promise to pay, they have sold the debt to a collection agency that will make more vigorous attempts to collect.  The account has not been cancelled and the original creditor did not receive what you owed them so the full amount is what the the agency is trying to collect and the account remains open until paid or otherwise legally discharged.

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