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On a payment plan - continued to be marked late


fried
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Hello!

 

In 2009, we were sued over a large credit card debt by the issuer's in house legal team.

 

We negotiated a payment plan and made timely payments for two years, and then made a lump sum settlement payment.

 

We just noticed that our account was reported late for the two years we were making the payments, and only stopped once we settled.

 

Does that sound correct? Can they show the account as late even though it had been charged off and we were making payments? The payments were all on time, and for the agreed upon amount.

 

Thank you in advance for any assitance you can provide.

 

Fried

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  • 2 weeks later...

@fried

 

I agree with @lionhunter.  See what happens with the dispute she recommended. 

 

However, it's possible that reporting the payments as "late" is NOT a violation.    The reason is because a charged-off account cannot be brought back to a current status even if there's a settlement.  

 

Timely payments are based on an account that is current and not charged off.   A charged-off account is not current.  Your payments may be timely in regard to the settlement, but they're not timely based on when the account was still current, not charged off and the money was actually due.

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