Therefore, if you don't mind, I will ask several questions: 1) Part A: When a consumer (such as myself) stopped paying a credit card account....i.e.
Bank of America..it is 3 months past-due, am I correct that at that point, it sits in the internal collections department of Bof A?
Part C: Since a Charge-Off is a Write-Off (and in this question - Bof A), usually doesn't the bank, Bof A write the ENTIRE amount off their books as uncollectable debt and get covered by FDIC for the entire amount, and if so - how then can they sell the debt to a collection company if they already got paid..do they only sell 10% of it for (i.e.
- 10 cents on the dollar for the entire amount) and get covered for the other 90%?
(I had this happen to me, but not sure if this is correct).
Part B: After this account was Charged-Off, did Bof A sell the debt or did it assign the debt, and how would I know?
Part B: (Sort of mimics part A, but slightly different) When it says "Collection" on the report, not "Charge Off", does that mean this is a newly created collection item after the sale, after the Charge-Off occurred by the original bank, or did this collection report, while this was with the original creditor?She was preceded in death by her parents, Ray and Vivian Watson, her sister Kitty Hollifield, grandson Jayson Moore, and nephew Dakota Wood.Survivors include her daughter Brandy (Tim) Thatcher of Hubbard, Dawn Moore of Missoula, and son James Piel of Malone; sister, Donnice Sorrell of West, Texas; sister Sherry (Cliff) Wood of West, Texas; and brother Don Watson of St.Teresa Gail Watson Lenart, age 61, of West, Texas, died surrounded by family on Friday, January 12, 2018, at Hillcrest Hospital in Waco, Texas. While in Montana, she attended college and graduated with honors to become a licensed addiction counselor for the state of Montana, and while in Glasgow, helped a lot of people.An “Independence Day Baby”, Teresa was born July 4th, 1956 to Ray and Vivian Watson in San Diego, California. A straight shooter, she was loved and adored by her co-workers and clients.