Maikeru-sama Posted July 26, 2005 Report Share Posted July 26, 2005 If a Credit Card Company has a closed account's status as "Charge Off" on a person's Credit Report and the person paid it, even though it was CLOSED, does the Credit Card Company still have the right to have the status as "Charge Off"?- Mike G. Link to comment Share on other sites More sharing options...
Bjoeboo Posted July 27, 2005 Report Share Posted July 27, 2005 Yup! They sure do. Usually how it works is they put 30 days late then 60,90 etc. days late on your CR after about 180 days they write it off as a "charge off" and assign or sell it to a CA. A paid chargeoff hurts your CR same as an unpaid cargeoff. You could have tried a PFD but that usually doesn't work with CAs anyway. If I were you I'd just dispute it with the CRA and see if the CA or OC verifys the debt. Use the flowchart.http://www.creditinfocenter.com/rebuild/debt_validation_workflow.shtml Link to comment Share on other sites More sharing options...
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