Reverse charge off?

Question

I had an issue with a company that credited me for a return I made, but still had it as oustanding financially. After about a year of bickering with these people, they claimed to help me and never did and sent my shyt to collections. Apparently collections told me I was credited for the amount, and found out that even though I was credited the company still billed me for the amount. The debt collector is going to do a REVERSE CHARGE OFF for me and will send letters to my credit agencies doing so, as well as myself. Needless to say this made my credit drop.

Anyway, my question is; if reversing the charge off, will all the other items still show on my credit (i.e; the original charge off and claim), or will it show up as the account was paid in full and no derogatory items?

Also will my credit boost back up to the 700's like it was or will it mot make difference if they delete it.

I know im too lazy to do research, oh well...

Somebody answer!!!

Im giving away 10

by the way; the company was DELL...yes, THOSE clowns...

Smoovy loco is an idiot, and if I can give out -10 points I would. I said the issue was resolved my the collections department (whom Dell transferred the account over to)...Please read the question in its entirety before you just start SHOWING YOUR A.S.S...its not a good look!!

Answer 1

The truth is that there is really no way to know until you pull your credit report.

What is SUPPOSED to happen is the line item (the collection) is supposed to be removed from your credit report and your credit will be restored to its previous good standing (btw, congrats on the 700+ score, in my line of work it is a rare thing to see). However, with the credit reporting agencies, there is little to no oversight, so they may not remove the derogatory information unless you force them to do so. Please understand, the credit bureaus don't care about you or what is on your report, all they care about is the money they can make by selling your information.

I recommend that you take care of this situation asap. There is a very lucrative scam going on out there right now where the scam artist purchases your information from the credit reporting agencies and uses the guise of being a collection agency to try to get you to pay on your debt, whether it is legit or not. I have had several of my clients complain to me about this particular scam recently. This is one reason that I recommend credit restoration companies. They are specialists who can help you from falling victim to this type of scam.

So call the collection agency and see if they really did a reverse charge off. I will be surprised if they did. My philosophy on bill collectors is ALL BILL COLLECTORS LIE ALL THE TIME. But if they tell you they did, wait 30 days. If you receive a letter within that 30 day period it will tell you the status of the line item. It will say that the information was verified or removed. If it is verified, you will probably have to hire a credit restoration specialist to have it removed. With a credit score like yours, this would be a wise move.

If you don't receive a letter from the credit bureaus, then you will have to order your report to see if the item has been removed. Then re-read the paragraph above.

Best of luck to you.

If you have any questions regarding your credit issues, you may email me at [e-mail]

Answer 2

Well, from the sound of it, I wouldn't hold my breath to wait for DFS (Dell Financial) to help you out. What you can do is 2 things.

1. Dispute the charge-off yourself, you can google credit dispute letters and find a template that best suits your situation.

Or...

2. You can enlist the help of a professional firm (for example Lexington Law) http://www.lexingtonlaw.com and explain your situation to them. They offer other services that may be helpful to you. I use them myself, and I'm happy so far with the results.