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How long does an OC hold on to a debt before selling it to a CA/JDB


brokebutnotdown
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I have a couple of charge offs that are 4.5 years old and the OC's still report a past due balance. I find it hard to believe that an OC would hold this debt on their books this long. I disputed with the CRA's and they both came back verified. The SOL in my state is 4 years. Has anyone experienced this? The two OC’s are USAA Bank and Discover.

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There is a legal time frame for charging off a debt for accounting purposes, but it has nothing to do with reporting or debt collection. An original creditor doesn't HAVE to sell of any debt. They can also report the debt for the entire seven year reporting period which is different than the statute of limitations for collecting a debt.

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