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Can Charge Off date be changed?


dwarfess
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I'm cleaning up my daughter's credit file and HSBC is the last one on the list. Sep, Oct, Nov & Dec EQ, EX & MYFICO reports show May 2007 as CO date. January '08 reports show CO date as Jan 2008 with 8 additional 90+ days late pays added for Jun 07 through Jan 08. No payments have ever been made. Can they do that? Since account was disputed last month, could this be pay-back?

No DV response received from OC. This was for a Rapid Tax Refund from H&R Block in Jan '06. The refund was sent/deposited directly with HSBC by IRS. After the fact, HSBC claims an additional $241 in fees. No idea what the fees are for.

SEP-DEC '07 Reports:

Date Opened = Jan'06

Date Reported = May '07

DOFD = Apr '06

DOLA = Apr '06

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2007 CO CO CO *

2006 * * * * 30 60 90 120 150 CA CA CA

Jan '08 Reports:

Date Opened = Jan'06

Date Reported = Jan '08

DOFD = Apr '06

DOLA = N/A

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2007 150 150 150 150 150 150 150 150 150 150 150 150

2006 * * * * 30 60 90 120 150 150 120 150

Son-in-laws reports show CO date was changed on his reports as well.

For example - Experian shows the following:

Dec 07 report:

Account History:

Charge Off as of May 2007

180 days as of Oct 2006

150 days as of Dec 2006 to Apr 2007, Sep 2006

120 days as of Nov 2006, Aug 2006

90 days as of Jul 2006

60 days as of Jun 2006

30 days as of May 2006

Jan 08 report:

Account History:

Charge Off as of Jan 2008

180 days as of Oct 2006

150 days as of Dec 2006 to Dec 2007, Sep 2006

120 days as of Nov 2006, Aug 2006

90 days as of Jul 2006

60 days as of Jun 2006

30 days as of May 2006

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For the most part "charge off" is a non-event as far as the debtor is concerned. It only means charge against income for profit and loss purposes. They still own it, you still owe it, they can still charge penalty and interest, and they can still try to collect it.

And, the "90 day late" thing is only a status...NOT an event. Think of it as the color of stale bread....once it turns green and moldy, it stays green and moldy...it doesn't get more moldy.

And, DV the OC doesn't work. You need to ask them for an explanation of charges per the FCRA.

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  • 1 month later...
I was just wondering, how can intrest be charged on a charge off/ collection account?

Sounds like they made a reversing entry on their ledger, added back the interest from 5/07 & 01/08 and CO'd again. Had your daughter maybe gone thru their rehab dept and worked out payment arrangements?

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"...how can interest be charged on a charge off/collection..."

Just like any other debt. The contract or account agreement you sign with the lender has that provision included in it. Makes sense. Any lender worth their salt is going to charge additional fees to someone who doesn't pay according to terms, especially if they have to wait to get paid.

For the consumer, charge off = collection. To quote willing...'they still own it, you still owe it". That statement says it all. The CO part is just what they do, on their books, to comply with gov't regulations.

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