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If credit card debt was sold to another company do you still owe to the original credit card company or the one it was sold to?
Wiki User
∙ 14y ago
If the original debt has been "assigned" to a second organisation then you owe the second organisation (e.g. a debt collection agency that buys defaulted debt ... for about 14p in the pound)
If the original debt has not been "assigned" then you owe the original creditor (i.e. the credit card company)
It is a question that many credit card companies and the debt collectors they appoint from time to time are very cagey about. Ask them whether or not it has been assigned as you have the right to know this and also ask for a copy of the deed of assignment.
Wiki User
∙ 14y ago
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What happens if one of your credit cards is sold or transferred to another credit card company?
you are still liable to pay what you owe
Your credit report has two creditors with the same credit card number?
usually this is because the original lender sold the account to a new lender which takes on the loan/debt, but the paper trail is still left on a persons credit report. If a company goes out of business they also liquidate their assets/accounts to another creditor. It also can be because the person did not pay on the account and it was sold to another creditor or a collection company. The most rare case would be that there is a mistake on a persons credit file and should contact the credit report company.
How does working with a credit card settlement company affect your credit score?
It is recommended that you pay an old debt through the original creditor. Credit settlement companies are out to make a profit and they will negotiate terms that are not true. Also, it is possible that you can pay the settlement company but still owe the original creditor. It has happened to me. The negative information reported by the credit card settlement company will affect your score negatively.
If you pay off an enormous credit debt within a year will it be completely off your credit report once it is paid off?
Every credit company and lender is required to repost to the credit bureaus monthly so it will show a zero balance within a month of paying it off but it will not be completely off you credit report. It will still show the company and original balance of the loan but it will show that the balance is at zero and when it was paid off.
Does an assumed loan show up on the original borrowers credit report?
If the borrower formally assumes the note, another words the bank gives the ok to the new borrower, the bank can notify credit bureaus to delete that entry in credit report. If new buyer takes title "subject to" without the banks permission the original borrower will still show up in their credit report. because as far as the bank is concerned you are still responsible, no matter who pays the note.
What happens if one of your credit cards is sold or transferred to another credit card company?
you are still liable to pay what you owe
Your credit report has two creditors with the same credit card number?
usually this is because the original lender sold the account to a new lender which takes on the loan/debt, but the paper trail is still left on a persons credit report. If a company goes out of business they also liquidate their assets/accounts to another creditor. It also can be because the person did not pay on the account and it was sold to another creditor or a collection company. The most rare case would be that there is a mistake on a persons credit file and should contact the credit report company.
How does working with a credit card settlement company affect your credit score?
It is recommended that you pay an old debt through the original creditor. Credit settlement companies are out to make a profit and they will negotiate terms that are not true. Also, it is possible that you can pay the settlement company but still owe the original creditor. It has happened to me. The negative information reported by the credit card settlement company will affect your score negatively.
If you are given a blank check from a loan company for a vehicle purchase and instead are granted credit through a dealership can you still use the blank check at another dealer for another purchase?
no
If you pay off an enormous credit debt within a year will it be completely off your credit report once it is paid off?
Every credit company and lender is required to repost to the credit bureaus monthly so it will show a zero balance within a month of paying it off but it will not be completely off you credit report. It will still show the company and original balance of the loan but it will show that the balance is at zero and when it was paid off.
Does an assumed loan show up on the original borrowers credit report?
If the borrower formally assumes the note, another words the bank gives the ok to the new borrower, the bank can notify credit bureaus to delete that entry in credit report. If new buyer takes title "subject to" without the banks permission the original borrower will still show up in their credit report. because as far as the bank is concerned you are still responsible, no matter who pays the note.
If a credit card company says you owe them money but it is not on your credit report do you have to pay?
If it isn't on your credit report, the credit card company still has hopes of you paying it off. When they see that isn't going to happen, you can bet your butt that it WILL be on your credit report.
Which manufacturing company makes the strongest Fentanyl patch?
The original company is still the best: Janssen Pharmaceuticals.
How do you get credit card with bad credit?
If you have a bad credit history, you can still avail of credit card applications. It depends on the company. Sometimes, you have to fix your credit card history before you can apply for a new one.
Can you send credit from someone to someone else?
No, you can not give credit that you have to someone else. You can loan someone money or your credit card, but you are still responsible for paying the credit card company back.
A paid collection is still on my credit report it was not turned over a s a last resort they never gave you a chance to make payment arrangements from the time it was due?
go to another company.
What happened to clubpenguin?
Its still there! But disney bought it a while ago from the original company!
