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Re: thanks


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Posted by JKelly (151.197.123.138) on June 29, 2004 at 21:27:46:

In Reply to: thanks posted by anon on June 29, 2004 at 21:21:08:

There are in-house collectors who work directly for the creditor. They are the people who call when you get a little behind, send little reminders. Of course, they can be quite nasty when the account goes unpaid for awhile. After charge off, the account can be either sold or assigned to a collection agency. If assigned, the original creditor still gets paid, but the CA gets a percentage of anything they collect. If they can't collect it goes back to the original creditor who will then sell it. Accounts can be sold from CA to CA, the older the debt is, the less they pay for it. Once out of SOL, it is pretty much worthless, but will still be sold, and these bottom of the barrel CAs are the worst. Nasty Nasty people. And I think they have a special reservation in hell.
Your CR will tell you if an account has been charged off. Seperate snail mail accounts are best. 3 in 1 accounts are worthless. Not enough info.


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