Chargeoff reporting policy

[skinny]

I have two Chargeoffs on my credit file . One from Chase that simply reports a chargeoff and no current notations. However, my Discover CO reports a late payment each month - years after the chargeoff. Is that legal? If it wass been charged off can the OC still report it as late each month?

[willingtocope]

Charge off is just an accounting term that, for the most part, has no meaning to you. They still own it, you still owe it, they can still charge penalty and interest, and, they can still try to collect.

And...once the account obtains the status of "late"...it stays late until you bring it current.