Credit report question....?

Question

I am in the process of fixing the accounts on my credit report. It is not bad but it is not good either. My question is how do I get Experian to update an account that was a paid chargeoff? I have disputed it, sent letters, talked to the original company and they sent letters also to Experian and none of this worked. Is this one of those things that will stay for seven years even though it is paid?

Answer 1

It will remain on your reports for the original 7 years, it cannot be re-aged and remain 7 years from the time it was paid.

Keep in mind that a paid negative is no better than an unpaid negative.

Stay off of the phone. All of your disputes and requests should be done by mail, sent certified return receipt - papertrail.

If they continue to report inaccurate information and you have the papertrail proving that you have tried to have it corrected - both with the credit reporting agencies (CRA's) and the original creditor/collection agency then start filing complaints.

I don't know if you are dealing with the original creditor or collection agency or if the CRA's are claiming the data furnisher is verifying the tradeline or if the CRA is claiming your disputes are frivolous/previously investigated and are refusing to investigate.

If you spoke with the original creditor/collection agency by phone and they verbally "claimed" to you that they had sent letters to the CRA's without sending you a copy of their letters, then thats all it is - a claim.

File complaints with the BBB, FTC, your states AG and the original creditor/collection agency's AG.

Then re-dispute with the CRA's and include copies of your complaints.

If the CRA's continue to report inaccurately - sue them. If the data furnisher is verifying the information to be correct - sue them.
(that's where your papertrail comes in very handy)

Answer 2

1st they are required by law to show the payment if the company reported it to them.

2nd the HISTORY, however will remain for awhile.

3rd You can submit copies of the payment and the letter you have sent to all 3 credit reporting agencies, Experian, TransUnion and Equifax and ask that they be included in your credit file....[this is the law also - they MUST do that]

Ask for return written verification of such..[provide a self addressed stamped envelope]

If you do not receive satisfaction within one month, contact an attorney ASAP

Answer 3

it WILL stay there for 7 years. i own a credit restoration company and i know once you call the creditor that gives them more evidence that the item actually IS yours. when you are disputing an item you are saying it is fraud and it ISN'T yours. makes it very difficult to get experian transunion and equifax to delete these items.

unless how ever, if you know the fair credit reporting act inside and out like myself and you know exactly how do dispute the account.

i've gotten bankruptcies collections tax leins judgements foreclosures repossessions late payments off so it shouldn't be too hard!

Answer 4

Yes the charge off will remain on your credit report for the next seven years, even though it was paid.