I got my CR today. I have never bothered to look one even back when I was every CC's dearest darling.
I noticed something interesting. The cc's have charged off the debt with balance at ZERO. Naturally they factored the accounts to collection agency. The interesting thing is, the agencies have been compounding the interest charges. I found my 22k to MBNA has become zero at MBNA(B of A now), but ballooned to 45k at the collection agency they sold the account to.
So, how much do I owe now? The original 22k or the 45 k? Oh yeah. This is just one of the many cc's. I only use just this one for example. The rest of the cc's have the same circumstance, ie charged off as loss, with balance at the original creditors at zero, but practically doubled on the book at the collection agencies.
From the CR, I can see that eventhough it has been 4 yrs, they have continued to scan my CR for activities ever since. The vultures are still circling... Can't say I blame them. I would have done the same. It is just business.
I noticed something interesting. The cc's have charged off the debt with balance at ZERO. Naturally they factored the accounts to collection agency. The interesting thing is, the agencies have been compounding the interest charges. I found my 22k to MBNA has become zero at MBNA(B of A now), but ballooned to 45k at the collection agency they sold the account to.
So, how much do I owe now? The original 22k or the 45 k? Oh yeah. This is just one of the many cc's. I only use just this one for example. The rest of the cc's have the same circumstance, ie charged off as loss, with balance at the original creditors at zero, but practically doubled on the book at the collection agencies.
From the CR, I can see that eventhough it has been 4 yrs, they have continued to scan my CR for activities ever since. The vultures are still circling... Can't say I blame them. I would have done the same. It is just business.