BTO429 Posted December 2, 2011 Report Share Posted December 2, 2011 41053079XXXX Status: CHARGE-OFF Account Owner: Individual Account. High Credit: Type of Account An installment loan has a fixed number of payments and the same payment due each month, such as a car loan or student loan.: Installment Credit Limit: Term Duration: 36 Months Terms Frequency: Monthly (due every month) Date Opened: 04/2007 Balance: $0 Date Reported: 06/2007 Amount Past Due: Date of Last Payment: 06/2007 Actual Payment Amount: $1,500 Scheduled Payment Amount: Date of Last Activity: N/ADate Major Delinquency First Reported: 06/2007 Months Reviewed: 2 Creditor Classification: Activity Designator: N/A Charge Off Amount: $153 Deferred Payment Start Date: Balloon Payment Amount: Balloon Payment Date: Date Closed: Type of Loan: Secured Date of First Delinquency: 05/2007 Comments: Charged off account Charged off for 153 dollars but a zero balance? I paid this back in 07. Link to comment Share on other sites More sharing options...
Torden Posted December 3, 2011 Report Share Posted December 3, 2011 Charged off for 153 dollars but a zero balance? I paid this back in 07.Isn't that what your keep your own records for? I hope you have the canceled check or bank statement from back then. It sounds like a case of cashed the check and didn't apply it to the (proper) account (which I caught AT&T Credit Card doing to me twice many years ago).I'm guessing the balance is zero because they charged off the amount to collection. I hate this confusing accounting practice. Link to comment Share on other sites More sharing options...
willingtocope Posted December 3, 2011 Report Share Posted December 3, 2011 Charge off is both an event and a status. Once an account is CO'd, its status remains CO until it falls off your report. (You may be able to dispute this into "Paid in full" (assuming you did) or "Paid as agreed" if you settled it). Link to comment Share on other sites More sharing options...
BTO429 Posted December 4, 2011 Author Report Share Posted December 4, 2011 I called the bank and of course they have no records of it. And since they have no records they say they just can't go by what I say and they have no means to correct it. So they say. Link to comment Share on other sites More sharing options...
inthesticks Posted December 4, 2011 Report Share Posted December 4, 2011 Did you dispute this with the CRA? Because the bank just told you they have no record of this so how could they possibly verify it to the CRA? Link to comment Share on other sites More sharing options...
BTO429 Posted December 4, 2011 Author Report Share Posted December 4, 2011 I am going to use that approach tomorrow and see what happens Link to comment Share on other sites More sharing options...
Recommended Posts