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You can go back to the original creditor, but they may not offer you a line of credit. Usually they will not extend any more credit after it is charged off, but this is an individual company or individual decision.

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Q: Can you ever go back to the original creditor if the debt has been charged off?
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What do you do if an account was turned over to a collection agency but the original creditor accepted your payment in full?

Contact the original creditor. Provide proof of your payment. They need to retract the account from the collection agency. The account could have been sold to the collection agency or simply assigned to them. For your purposes, it does not matter which situation applies. You paid the original creditor and your credit report needs to reflect this. After they do what they need to do to get the account back; you then dispute the entries with all three credit bureaus. The original account should show as a paid collection and the other collection account should be removed from your credit report entirely.


Can a credit card company still continue to charge interest if the debt has been charged off?

Yes, a "charge off" does not indicate that the debt is no longer valid. The creditor has several options on how to collect monies owed after the account has been charged off.


If you have about 50000 of credit card debt that is 10 years old and you have not filed for bankruptcy does the debt still have to be repaid?

It depends on if the debt has been charged-off. Typicall after a debt is charged-off the original creditor has a specific time period depending on the state in which the debtor reside to file suit to obtain a judgment in order to force the repayment of the debt. If the time period mentioned above elaspes without the creditor filing suit then typically the answer would be that the debt does not need to be repaid. However, if you made partial payments to the creditor after the charge-off date you have started the clock over on that time period and the creditor get another chance. The best thing to do is contact a bankruptcy attorney for all the detail concerning the specifics of you particular situation.


How long after a charge off can a creditor sue?

Charging off the debt has not impact on the creditor's ability to sue. Charging off is simply a write-off for tax purposes. A creditor can sue any time prior to the expiration of the statute of limitation regarding of whether or not the debt has been charged off. The applicable time deadline will vary from state to state and depending on the type of debt.


What is the difference between 'paid' and 'closed' on a credit report?

The general rule is "paid" means the account has been, well, "paid." Closed means the account has been closed or written off by the original creditor. This could mean they gave it up as being uncollectable or they have sent it to a collection agency or sold it to a third party creditor.

Related questions

If a creditor sends your payment back to you do you still owe the debt?

Yes. Once a contract has been defaulted on, the creditor has no legal obligation to accept any payment other than that which was agreed on in the original contract or subsequent agreement.


What is does it mean for an original creditor to recall their collection?

Recall of a debt by a creditor is when the original creditor asks for the debt to be returned to them after they have sold it, often to a collection agency. This may occur if the debt has not been collected for a certain amount of time, and the debt will be sold to another agency to collect, or if the debtor offers the original creditor a settlement.


If your debt with a judgment against you has been sold can the judgment still be on your credit report from the original creditor effecting your credit report twice?

No, it's the same account and the new creditor is simply taking over the same rights as the original creditor.


If a bankruptcy was discharged on an account that was sold to another lender and the original creditor is marking it as a charge off should it be marked as bankruptcy by the original creditor?

Yes, this debt should have been marked as a bankruptcy by the original creditor. It cannot be changed from a bankruptcy to a discharge unless the bankruptcy did not go through.


If a creditor has written off your debt can a collection agency then come after you for the amount?

If the debt has been cancelled, no; if the debt has been charged off, yes.


What are charge offs?

Charge offs are accounts that have been written off by the creditor as uncollectable. The debt owed is still valid and can be collected on either by the original creditor or by a collection agency. You can only erase charge offs by disputing them to the credit bureaus or negotiating the removal by the original creditor.


What do you do if an account was turned over to a collection agency but the original creditor accepted your payment in full?

Contact the original creditor. Provide proof of your payment. They need to retract the account from the collection agency. The account could have been sold to the collection agency or simply assigned to them. For your purposes, it does not matter which situation applies. You paid the original creditor and your credit report needs to reflect this. After they do what they need to do to get the account back; you then dispute the entries with all three credit bureaus. The original account should show as a paid collection and the other collection account should be removed from your credit report entirely.


How can you find out if a debt has been written off?

The term "written off" does not mean the debt has been cancelled/forgiven. The term indicates that the original creditor will no longer continue to collect the debt in the usual manner. The debtor will receive a notice from the original creditor of whatever further action will be taken with the account.


You had a credit card account which they charged off and sold to a collection agency ca Now you have that charge off which carries a balance and a CA collecting on the same debt What could you do?

It is unlikely that the account was "sold" to a collection agency. Rather, the agency was contracted to recover the debt. The "charge off" of the account only affects the original creditor, and represents a loss reported against the company's taxes. If the collection agency has attempted to recover the debt and has been unable to, the original creditor will likely pull back the account and refer it to another agency in hopes of greater success.


Can a credit card company still continue to charge interest if the debt has been charged off?

Yes, a "charge off" does not indicate that the debt is no longer valid. The creditor has several options on how to collect monies owed after the account has been charged off.


Can a creditor be awarded double payment on a loan default that was signed by two people?

No the creditor only gets the original amount that was loaned (plus interest) regardless of how may co-signers there may have been.


If something has been sent to collection can the collection agency charge you interest?

If the original creditor charged interest then the collection agency will continue to accrue interest at either your states legal rate or whatever you agreed to in the original contract until the debt is either paid or sold to another collection agency or placed with an attorneys firm for legal litigation.