Credit Card Charge Off?

Question

I contacted 2 of my creditors that listed my 2 charge cards as chargeoffs on my credit report and I requested that since they had been paid in full, could they be deleted from my report. I was told by them that they could not because they were reported as charged off, I can't believe that. Can anyone tell me if this is true?

I had 5 cards in all--2 from each of these companies. They were listed as charged off, but I went back and paid them all in full. I was told by the companies that they would be removed and they haven't been. 1 even told me that I had settled when I know for a fact that I paid in full because I had the full funds at the time--the 2 balances left are $46 and $61, I asked them did it make sense that I would pay 2 balances totaling about $1700 and not pay them off completely. Someone please help.

Is it 7 years from when I paid them or 7 years from when the last activity on the account was?

Answer 1

The reporting period would be 7 years from the time you first became 30 days late and never brought the account current leading to the charge off. Not at payoff, not at last activity (last activity can include the charge off dates which is not activity that "you" had done)

The reporting SOL cannot be re-aged.

Order your paid report from each CRA (credit reporting agency) Do not use tri-merge reports or the free FACT-ACT reports.
Tri-merge reports can carry inaccurate information that is not reported on your "real" reports. The free reports gives the CRA's an extra 15 days to investigate any dispute you make, which could mean an inaccurate trade line remaining instead of being deleted.

If you don't know the dates of the first times you became 30 days late and never brought the accounts current, contact the CRA's and request the obsolescence dates. If you contact them by phone, request that they send you the dates in writing.

Look over your reports for "anything" that is inaccurate. If there is inaccuracies, dispute them with the CRA's.

You might click on my profile and do some reading in the links I have listed - to the FCRA etc.
Learn what constitutes violations.

Answer 2

Follow these simple rules to adopt while attempting to prevent a charge-off that hasn't taken place yet.

Do not allow the pre-charge-off collection tactics to scare or cow you. Remain calm and do not take it personally when collectors attempt to irritate you.

Contact your creditor to check out the minimum payment needed to prevent the charge-off, and next lot of payments to keep the account updated. Don't agree to make this payment and further payments unless you are certain you can honor them.

Bargain with the creditor to make a lump-sum settlement of at most 50%, if you can afford, or chalk out a plan to make monthly payments that you can easily afford.

Do not accept the bill collectors’ suggestion that you can give post-dated checks, or submitting your checking account details telephonically. Always pay through cashier's check or money order.

Don’t pay simply on the basis verbal agreement. Ask for the agreement in writing and signed by a creditor representative, with capacity of authorizing the workout plan.

If you do not have money to prevent the account from being charged off or if it has already been charged off by the lender, you can save yourself by taking the following steps:

Do not panic.

Answer 3

Were they charged off or did you pay them?

If you paid them, then dispute those items on your credit report. You'll probably need proof that you paid them.

If they were a settlement payment and they charged off a portion of the bill, e.g., you owed $3000 but they agreed to accept $2,000 as payment, then they did indeed charge off a portion of the bill so the report is correct.

If you paid the whole thing, the dispute them on your credit report.

Additional info -- Dispute them with the credit reporting bureaus. If it's been 7 years, they should drop off your report anyway but I'd still dispute them since you paid them in full.

Answer 4

Sounds like you paid it after it went into collection.

If that is the case they are right. However, all is not lost. You can keep sending letters to equifax, transunion and experian saying it is not reporting correctly. It will take time but it may come off.

In the future though when paying collections make sure you get it in writing that they will remove the derogatory marks from your credit when you pay your debt in full. Make sure you have it in writing.

Answer 5

You need to contact the reporting bureaus that reflect those chargeoffs and challenge their accuracy. The creditors will need to prove in writing to the bureau that the information is correct, or else the bureau will have to remove the negative information.

Answer 6

If they were charge-offs, meaning you did not pay your bill, then they will not be removed. All negative information stays on your report for 7 years even if you pay what you owe.

If they erroneously reported them as charged-off, then you do need to dispute that to have them corrected.

Answer 7

hi

Answer 8

You needed to negotiate "settlement with deletion". This may be able to be fixed, go to www.genesiscreditgroup.com and see if they can help you. That is what they do.

Answer 9

Credit Card Charge Off?

T.R.Y
T.H.I.S.
S.I.T.E
W.H.E.R.E
Y.O.U
C.A.N
F.I.N.D
T.H.E
B.E.S.T
S.O.L.U.T.I.O.N
F.O.R
Y.O.U

Answer 10

yep its true