what does transferred to recovery mean on a credit report?

Stacy R asked:


I just got my hubbys credit report and alltel was in colection but it says transferred to recovery, we havent paid them a dime. what does this mean?

Marc

Tags: Alltel, Credit Report

This entry was posted on Tuesday, June 2nd, 2009 at 6:03 am and is filed under Credit Reports. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

4 Responses to “what does transferred to recovery mean on a credit report?”

1. Ted Says:
   June 5th, 2009 at 1:32 am

   Tim

   Some places have a recovery department which acts like a collection agency, but isn’t an outside company but an internal function within the company.

2. Tyre B Says:
   June 5th, 2009 at 7:16 pm

   Bill

   It means that because it has been a certain amount of time since the account has been past due (usually 45-60 days) and the creditor (Alltel) has hired a firm to recover the money that it owed to them.

3. mister ed Says:
   June 8th, 2009 at 7:15 am

   Michele

   it has went to collections!!!

4. Myra F Says:
   June 9th, 2009 at 5:25 am

   Virginia

   Take a look at this site.. They offer a free credit report so you can see exactly what’s going on with your credit.