Experian Status "Paid, was a charge-off"

[rburns515]

I have a Capital One Auto loan listed on my credit report as Status: "Paid, was a charge-off".  This does not seem to be correct reporting to me.   Can Experian report it this way?  If not any advice on how to deal with it to remove would be helpful.   The account is completely paid off.  

[BV80]

17 minutes ago, rburns515 said:

 

I have a Capital One Auto loan listed on my credit report as Status: "Paid, was a charge-off".  This does not seem to be correct reporting to me.   Can Experian report it this way?  If not any advice on how to deal with it to remove would be helpful.   The account is completely paid off.  

Was it paid after it was charged off?

[rburns515]

Yes it was.    About 2 months after it it makes any difference.

[BV80]

22 minutes ago, rburns515 said:

Yes it was.    About 2 months after it it makes any difference.

It does make a difference.  Since the account was charged off, it is correct to report that it was a charge-off.  Paying it does not change that fact.  

[rburns515]

I believe I didn't communicate clearly.  The charge off is paid already.   It was paid after it was listed as such.   I know it matters.   My question was about the status listed as "Paid Was s Charge-Off".   Is that an accurate name given the account now.   I am looking for ways to change or remove the "Was a Charge-Off".

[BV80]

8 minutes ago, rburns515 said:

I believe I didn't communicate clearly.  The charge off is paid already.   It was paid after it was listed as such.   I know it matters.   My question was about the status listed as "Paid Was s Charge-Off".   Is that an accurate name given the account now.   I am looking for ways to change or remove the "Was a Charge-Off".

That is the actual status of the account.  It shows the account was paid, but it was originally charged off.

It’s akin to a credit card account that was charged off and reflected as such.  Then, if the consumer settles, it will also show “paid in full” or “settled/paid” or “settled for less than full amount”.  But that won’t remove the “charge-off” notation because the account was, in fact, charged off.

[rburns515]

Thanks.  That helps.   Much appreciated.