Why Chat, Anyone?-Please help with paid charge off & credit report
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Posted by Mary
(166.44.195.72) on May 20, 2003 at 13:59:56:
I'm sorry this is so long but I need someone's advice....I live in MA and my fiance and I voluntarily surrendered a vehicle in Jan 2002 because the vehicle was defective, (should have fought but had no fight left in me). Anyway, contacted by a new CA (their last attempt) to settle with me in January this year. Total charge off was around $9,000, settled for 1/3 of that. I got all the terms in writing and asked that my credit be updated to a paid or paid in full status and not shown as a charged-off account. I don't have the letters in front of me so I can't give you the exact details at the moment. We paid on 1/31/03 and was told it would take 90 days to update our credit. I pulled a 3 in 1 credit report today for myself and I show as having 1 derogatory account in the summary details for each of the reporting agencies. In the actual line item, Experian and TransUnion both list this account 'Condition' as Closed (Paid) but also show the 'Pay Status' as Collection/Chargeoff. Equifax lists this account 'Condition' as Derogatory with a 'Pay Status' as Collection/Chargeoff. Experian remarks:
Account legally paid in full for less than the full balance. Unpaid balance reported as a loss by credit grantor. Account legally paid in full for less than the full balance. TransUnion remarks:
Charged off as bad debt. Settled-less than full balance. Equifax remarks:
Charged off account Can I fight this, send a letter of dispute to the 3 agencies with the documents from the CA to have this removed or fixed in some way? Should I go to the CA directly? Unfortunately I can't give you the exact details and terms of the settlement until I get the file with the documenation. Please advise.
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