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Can an OC sue after a charge off


Gracie
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If the account was charged off in 01, and I am paying the CA a few bucks a month, will the negative item still fall off in 7 years?

Also, how should my report read? Should the OC report it as a charge off with a 0 balance? Also, shouldn't the current payment activity be "no history for the month" with the Charge off being the actual date of the charge off?

The reason I am asking is because I believe the way the OC is reporting the payment history is incorrect.

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If the account was charged off in 01, and I am paying the CA a few bucks a month, will the negative item still fall off in 7 years?

Yes...b/c those small payments will not bring the account current (since the account was CO & closed).

Also, how should my report read? Should the OC report it as a charge off with a 0 balance?

Only if it was sold. If not, then you still owe the balance.

Also, shouldn't the current payment activity be "no history for the month" with the Charge off being the actual date of the charge off?

They can report "CO" for the STATUS of that particular month (but they can't have the account CO in April, in Good Standing in May, and then CO again in June). The actual CO month would be the first time the CO is reported. If it keeps reporting CO, then they are just reporting the status. My EX report is like that, which is accurate b/c the account is STILL CO. That's just like late pays being reported in your history. @ that time, that particular month, your account (for example) is 30 days late.

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