Hallie Posted May 5, 2007 Report Share Posted May 5, 2007 Hi,I disputed many of my negatives on my CR. Two of them were erased (yea!) but one of the came back and the company (Zales) changed my report from "paid in settlement" to "charged off". Is there anything that can be done about this. Doesn't "charged off" mean that they sold it to a CA because that never happened!Thanks in advance for the help! Link to comment Share on other sites More sharing options...
gypsie Posted May 5, 2007 Report Share Posted May 5, 2007 No, "charged off" does not mean it was sold to a CA.Charge off is simply an "accounting" term. It means the creditor writes off the account balance as a "bad debt." It usually happens around six months of non-payment. After that, they no longer count it on their books as an asset.If you paid in a settlement- then the account probably was in a "charged off" state, but it should now have a zero balance Link to comment Share on other sites More sharing options...
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