OC and CA showing two different things

[danelleo]

I am looking at my credit reports and the OC of an account is reporting that the balance was charged off as bad debt. Then the CA is showing the account is paid. Shouldn't the OC have to change it too? Why/how can they both report the same debt?

[Trish]

They can both report the debt but only one can report a balance.
The OC should be reporting a $0 balance and that the debt was transferred or sold. I don't believe they have to report the debt as paid UNLESS the CA was only assigned the debt.....and collecting on behalf of the OC.

It sounds like the debt was sold to the CA. If that's the case, then all they have to report is that is was charged off/written off. Not paid.

Hope that makes sense.