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Is this legal? (Small picture included)


hanales
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This is on my credit report. I guess I'm confused. Why can they report a charge-off again and again? It was charged off in october of 2001 in Ohio (where I lived at the time).

wfnnb.jpg

It seems like they shouldn't be able to report multiple charge-offs AND multiple late payments. And especially not for several years.

Any help would be appreciated.

--H

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The reporting is correct. They are reporting that it IS a charge off and has been since at least Dec of 05. Before charge-off it was at least 120 days late and that is also just the STATUS of the account.

They are NOT reporting a NEW charge-off every month, the status simply has not changed since Dec 05.

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The reporting is correct. They are reporting that it IS a charge off and has been since at least Dec of 05. Before charge-off it was at least 120 days late and that is also just the STATUS of the account.

They are NOT reporting a NEW charge-off every month, the status simply has not changed since Dec 05.

So then the status of the equifax report should change to CO then in the next month or two correct?

The reason I'm confused is I called the company and they told me that it had been charged off in 2001.

Sorry for all the questions. I'm trying to wrap my mind around this whole thing.

While working on restoring my credit, I'm paying off the things I owe (done with several, thank god) and not paying things that have already been paid (this is one of them).

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A chargeoff legally means the debt is uncollectable.

If you pay it, it's no longer uncollectable.

That's why the CDIA (consumer data industry association) has a different code for "paid, was chargeoff." The status that is current must be reported and, after it has been collected, chargeoff is no longer correct.

Get what I'm saying?

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