Are There Different Kinds of Charge-Offs?

[whatnext09]

What is the name of your state?What is the name of your state? California.
As I've said in earlier posts, I have paid off most of my debt, but have $25,000 remaining, and am trying to get it paid.

Here are my questions:

First, when a credit card has been charged off and sent to a collection agency, has the original credit card issuer actually sold that account, or just hired an agency? How can I tell if it was sold or just turned over to collections?

Second, I've dealt with a lot of collection agencies, and am surprised (and happy) to say that they have all treated me like I'm a human being. They were tough, but professional and polite.

Except one.

Which brings me to my bottom line question: This one credit card was charged off, sent to one collection agency for 3 months, and then transferred to another. This new agency's representative is nasty and not honest. How do I find out if the account has actually been sold, or if this new agency is representing the original credit card holder? AND ... can I go directly to the original credit card holder and pay them directly (if I find out the account was not sold). AND ... am I then liable to the collection agency for any money if I pay the original cardholder directly?

Head ... spinning.

P>S> One reason my head is spinning is that both the original, and now the second, collection companies, are BOTH calling me ... but I talked to the original credit card company today and they told me the collection agency to deal with.

Boy, I hope this makes sense. Any help will be really appreciated.

 

[Ladynred]

First, when a credit card has been charged off and sent to a collection agency, has the original credit card issuer actually sold that account, or just hired an agency? How can I tell if it was sold or just turned over to collections?

It can go either way. The only way to be certain is to see what it says on your credit reports. "Sold or tranferred" generally means they sold it to a junk debt buyer. If its been a while since it was charged-off, you can almost bet its been sold. Although, there are a few creditors, like Discover and Crap1, that tend to keep the accounts and just keep farming them out to collectors rather than sell them.

Second, I've dealt with a lot of collection agencies, and am surprised (and happy) to say that they have all treated me like I'm a human being. They were tough, but professional and polite

Lucky you. However, NOW you have met the REAL scum of the collection world, the law breaking, ego-tripping, nasty SOB who's only purpose is to make your life a living hell.

can I go directly to the original credit card holder and pay them directly (if I find out the account was not sold). AND ... am I then liable to the collection agency for any money if I pay the original cardholder directly?

If it has NOT been sold, you can try, but most of them won't talk to you, they will simply shunt you over to the collection agency. If you CAN pay the OC, you are NOT liable to the CA, that problem is between the creditor and their hired servants.