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ameliapond

Item marked as both charge off and paid in full

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So hello to everyone. I have used a couple of different credit repair services in the past. Had great luck with the first one years ago, not so much luck with the last one. They didn't do much at all over the course of almost a year, so I cancelled. I've decided to do it myself this time. I have the time and I've done a TON of reading on credit repair thanks to credit info center. Now, I have a couple of things I can't find answers on and I'm hoping you can help me. The one I'm looking at now is a Charge off from Capital One on my Equifax CR. The odd part is, in the 81 month payment history, every month is marked "paid" or "paid as agreed" and the account is closed with a $0 balance, but the status is still marked as 'charge off". Activity designator is marked as: Transfer/sold..it's also got a date of first delinquency. 

 

I'm completely confused by this...how can it be marked as paid as agreed in the 81 month payment history and still be marked as negative credit as well? I don't even know what to request of the CRA at this point for this line item. 

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I'm sorry, I did forget to mention a couple of things...the date of first deliquency is set on a month that is marked as "paid as agreed" in the 81 month payment history. Lastly, in the comments it says: Consumer disputes after resolution, Charged off account. I can only assume the dispute was put in by my last credit repair agency. 

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I'm thinking the debt fixers you were working with did little more than confuse the situation...but...

 

The important part of what you have mentioned is...the trade line shows a $0 balance and the activity say "transferred/sold".  What that means is the Crap 1 has "written off" the account and sold it to a junk debt buyer.  All of the other stuff...lates, charge of, disputed...doesn't really matter.

 

What will happen now is you will be contacted by another collection agency trying to collect for the junk debt buyer and/or you'll be receiving a 1099c for the "found income" from Crap 1.

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Okay, so I am essentially waiting for the next debt collector to call on this one, which will add another line to my credit report? Also, what do I do about this one, dispute it with the CRA like I am the other negatives on my CR or just leave it alone?

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You can try disputing the sold account...might work...sometimes the OCs don't keep records for very long after they sell it.

 

And, the JDB who bought might decide it isn't worth pursuing...miracles do happen.

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Thank you for the advice and info. I'm going to go ahead and dispute it. I guess we will see what happens. Hopefully they no longer have the proper documents and I can get it taken off!

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