Checking thru my credit report...I have numerous CC that are "charged off as bad debt". When looking closer, it says the balance is $0.00. Under description, it says "Purchased by another lender". Should I assume that means it was sold to a JDB?
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Yep, that would be my guess. I have a BOA account charged off and sold to JDB. The JDB never answered my DV request, nor did their attorney. They do report the account as disputed by consumer. BOA reports a $0 balance. I have a few others like that. The amazing thing is that my credit score bottomed out at about 500 even with all the chargeoffs, and slowly began to creep upwards. This seemed to coincide with the OC's accounts going from maxed-out balances to $0. I'm not entirely sure about this, but it did seem to be connected. Part of your cerdit score is based on how much you are using of your available balance. I guess once the charge-off occurs, there is nothing available LOL. Knowing that eventually I have to file a BK, I wish I would have stopped paying all unsecured at the same time. I have a couple of secured credit cards that I need to rent cars and travel for business and family emergencies. With the exception of these, my autos, and student loans, all but 2 of my original 20+ accounts have now charged off. Very few accounts have been sold to JDBs, but those that were sold show $0 balances with OC. -
Which credit report says that?
I have experian and equifax, they say purchased by another lender but the balance is still the same.
I called one of the CC's that said this on the CR and they gave me info on what CA now has the account. Not sure if they are a CA or JDB.Comment
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