Charge off: did they delete it or was it never there?

[bigmistake22]

I have a question about credit reporting. I know I can't remove a charge off but just trying to understand what happened before I pulled my report.

Is there a way to get a copy of older credit reports?

Brief summary (willing to give more details, just don't want to bore anyone with specifics)

 

Synchrony bank/Care Credit card was charged off for $8200 in 2019 (DOFD in 2018)

It was sold to a JDB, Credit Corp Solutions and they used Stillman law to sue me. 

It was a terrible time, I couldn't pay/panicked so I ignored everything until March 2022 (big lesson learned). 

I paid Stillman law for less than full balance early March 2022.  They told me they do not "report to any bureaus but they do inform Credit Corp solutions that the account was paid".

I was worried about what my report would show so I waited until the payment cleared and pulled my credit report on March 31, 2022.

At that time, there was no reference to Synchrony Bank/Care Credit OR Credit Corp Solutions/Stillman Law on my credit report. 

I thought the reference to Synchrony/CC or credit Corp Solutions was removed but, after reading the board here, it seems like maybe it was never on my account?

There's no way that Synchrony removed the charge off from my credit report in just a few weeks, right?

Now that I know more, I'd love to see what my report looked like before I paid the balance.

I ask asking this b/c I have a different charge off w/ Comenity/Crown Asset Management/D&A Services. It's for a measly  $350. I'm willing to PIF but am trying to figure out if that's the right move, esp if comenity doesn't remove it.

I guess I'm being hopeful that for some reason Synchrony removed the charge off and that might happen w/ the comenity one too. 

 

Thanks in advance...feel free to write and tell me I'm a fool

 

 

[Clydesmom]

2 hours ago, bigmistake22 said:

There's no way that Synchrony removed the charge off from my credit report in just a few weeks, right?

Wrong.  Depending on the method of notification and timing it can occur in as little as 24 hours and as long as 30-60 days.  Be happy if it was the shorter one.

2 hours ago, bigmistake22 said:

I thought the reference to Synchrony/CC or credit Corp Solutions was removed but, after reading the board here, it seems like maybe it was never on my account?

It may have been removed when the account was sold.  Often times a requirement of the purchase is that the original creditor remove their trade line so that there are no counter claims when they sue the consumer.  It is possible that the JDB never reported but more likely they also didn't report while the suit was active.

2 hours ago, bigmistake22 said:

Now that I know more, I'd love to see what my report looked like before I paid the balance.

There is no way to retroactively request old credit reports.

2 hours ago, bigmistake22 said:

I guess I'm being hopeful that for some reason Synchrony removed the charge off and that might happen w/ the comenity one too. 

If you successfully negotiate a pay for delete, yes they will remove it.

[bigmistake22]

1 hour ago, Clydesmom said:

Wrong.  Depending on the method of notification and timing it can occur in as little as 24 hours and as long as 30-60 days.  Be happy if it was the shorter one.

It may have been removed when the account was sold.  Often times a requirement of the purchase is that the original creditor remove their trade line so that there are no counter claims when they sue the consumer.  It is possible that the JDB never reported but more likely they also didn't report while the suit was active.

There is no way to retroactively request old credit reports.

 

If you successfully negotiate a pay for delete, yes they will remove it.

Thank you, @Clydesmom - You always have great advice and guidance!

I was just reading on a different website that a few people inquired about this to Synchrony and they have been told that it is policy to remove the CO from the CR once it is sold, just as you suggested. That's pretty wonderful. Someone reported that they waited for Synchrony to sell the debt then they spoke to new creditor and did a PFD. No record of it on their report. Pretty cool. It seems like that is a bit like what probably happened with me, although mine was completely unintentional! If only Comenity/Crown Asset worked like that. I can't believe this $350 is going to hang on my CR for the next 4-5 years (DOFD was 2019). So frustrating!

 

Thank you for confirming there is no way to retroactively access an old credit report. I didn't think so but wasn't' sure if there was some weird loophole I was missing. 

Thank you, again. You are so helpful!

 

 

[bigmistake22]

@Clydesmom

If you have a moment, I would love to ask your opinion on how to proceed. If you don't have time, that's ok. No pressure!

I don't want to re-post and repeat much of what I have already written. Just curious on next steps.

Recap:

OC is Comenity.

Currently: debt is owned by Crown Asset Management. D&A is the debt collector (I think I have the terminology right. Crown Asset wants me to only deal with D&A)

3B CRAs all report: Comenity Charge off for ~$350. $0 balance. DOFD: ~Dec 2018

No CRA report have anything from Crown Asset/D&A. 

As far as I see it, my options are only to: 

a: pay in full to D&A. They inform Crown Asset the bill is paid. According to D&A, Crown will take 45-60 days to report to Credit bureaus (although they are not on my CR, so not sure if this means they will update the CO to say "paid", they wouldn't tell me on the phone)

b: settle for les than full to D&A: same as above. They inform Crown and, at some point, the CO would be updated to say "settled for less than full" and "paid"

Either way, the CO is still on my account. I know it's almost impossible to get a CO removed but I guess I was hoping for a workaround b/c of what happened with Synchrony. I don't know if I'm missing something (or just naïve).

 

On the phone, D&A said Crown will not do "Pay for Delete". I've researched and found mixed info so the jury is still out on that one.

I guess my question is: is PFD even an option if I'm dealing with Crown Asset (who bought the debt)?

Thanks in advance for helping me understand this wonky path. I know it's easy for some but it's a steep learning curve. Each issue is a new mountain of terminology to understand. My other issue is do I pay this in full or my $650 in collections from 2016? I'll be researching that next. Which is more damaging to the credit report - open collections from 2016 or a charge off from 2019? I can do them both this month. Baby stepping it when I want to sprint

 

 

 

[Bulldoger]

Wow, I never notice but your right.  

my Synchrony with paypal was removed I was sued by JDB settled and nothing on this account now shows on credit reports:

My QVC Synchrony is not on reports only the MCM collection SOL 9/21/2022 hopefully they sue me soon before then. 

My TJ-MAX Synchrony is not on reports only the MRA collection SOL 7/28/2022 hopefully they sue me soon before then. 

the SOL dates include the 126 days tolling because of COVID.  But not sure JDB attorneys know this because PSC sue me right 3 years of my last payment.    

[Clydesmom]

18 hours ago, bigmistake22 said:

I guess my question is: is PFD even an option if I'm dealing with Crown Asset (who bought the debt)?

Any settlement offer I made Crown would be that neither they nor D&A start reporting after the account is settled otherwise no deal.  PFD is possible with ANY creditor as long as they are willing to do it.  Some are very willing others not at all. All you can do is try.

ANY settlement you make with the JDB who bought the debt or their representative has NO effect on the CO tradeline from Comenity.  Two separate issues.  Crown cannot agree to delete Comenity's trade line.  You will have to take that up with them on your own.  

[bigmistake22]

On 5/12/2022 at 10:34 AM, Clydesmom said:

Any settlement offer I made Crown would be that neither they nor D&A start reporting after the account is settled otherwise no deal.  PFD is possible with ANY creditor as long as they are willing to do it.  Some are very willing others not at all. All you can do is try.

ANY settlement you make with the JDB who bought the debt or their representative has NO effect on the CO tradeline from Comenity.  Two separate issues.  Crown cannot agree to delete Comenity's trade line.  You will have to take that up with them on your own.  

I know this is a few days old but I wanted to reply and say thank you. I was having a hard time responding from my phone (where I read the comment) and finally logged into a computer. You input has been so helpful these past few months and I greatly appreciate it. It's hard to natigate all the new terminology and understand the path to take on this journey. Fixing my credit is like Mt. Everest and you (and myfico) are my sherpa

I appreciate the explanation about who can delete the trade lines. When speaking to Crown/D&A, they are obviously working from a script and say just the right thing to make you think that when they report to the credit agency that the bill is paid, that Comenity will also report that. Sneaky! If paying D&A in full isn't going to change anything on my CR (they are not on my report but the Charge Off w/ Comenity is), then I'm going to try and settle with them. It's only $350 but I could use some of that money towards a medical collection I need to pay ASAP/

Once again, I appreciate your help!

 

[BV80]

59 minutes ago, bigmistake22 said:

I appreciate the explanation about who can delete the trade lines. When speaking to Crown/D&A, they are obviously working from a script and say just the right thing to make you think that when they report to the credit agency that the bill is paid, that Comenity will also report that. Sneaky!

It may not actually be sneaky.  It could very well be that the collection agency reps don’t know that paying the debt will have no effect on Comenity’s entry.  They may not understand the difference between a collection agency collecting for an OC and a debt buyer collecting for itself.

[bigmistake22]

Good point, @BV80 - They really were just telling me what they were told to say. It makes more sense they, as you suggested, just didn't know. I am just on alert for any scam b/c they are a CA

 

[Thisisntfun]

I am late to this topic but wanted to share my experience as a point of reference since I, too, have a Synchrony account that was sold to Credit Corp. When it was sold, Synchrony took it off my credit reports (so I think it is their policy to remove the account when it's sold). I also have never had Credit Corp report the collection to the bureaus. It's like the entire account just vanished. That's not to say that Credit Corp won't ever report it, but for now, it's still not showing up and it's been over a year since they acquired the account. There is another year before the SOL runs out so maybe it's their policy to not report in case of a future lawsuit? I don't know. We'll see if they file suit.

As for Comenity, 3 accounts with them & it is a mixed bag. All 3 sold to the same JDB around the same time and being reported as collections. But only 2 still showing under the OC in charge-off/sold status. The one account that was removed by Comenity happens to be the largest amount, over $5K. The other 2 are much smaller amounts. Don't know if that means anything but it is strange to have some still showing & one removed. Not sure what their policy is.

 

 

[shadow99]

50 minutes ago, Thisisntfun said:

never had Credit Corp report the collection to the bureaus.

I have two accounts left that are Synchrony sold to Credit Corp. Credit Corp only sent me a few letters the first year or so that they had the accounts.  If they called, I don't know about it.

They have sued me on one and put the other one on my credit report.

The interesting thing is that I think the one on my credit report will exceed the SOL in a few months - 3 years in Virginia if they can't produce a signature. The other one is Care Credit and they have signatures all over the place. That means it would fall into the 5 year category.

While I don't understand their logic, I think it's to my advantage they sue now on the one with the longer SOL and might allow the other one to expire?

[BV80]

7 minutes ago, shadow99 said:

I have two accounts left that are Synchrony sold to Credit Corp. Credit Corp only sent me a few letters the first year or so that they had the accounts.  If they called, I don't know about it.

They have sued me on one and put the other one on my credit report.

The interesting thing is that I think the one on my credit report will exceed the SOL in a few months - 3 years in Virginia if they can't produce a signature. The other one is Care Credit and they have signatures all over the place. That means it would fall into the 5 year category.

While I don't understand their logic, I think it's to my advantage they sue now on the one with the longer SOL and might allow the other one to expire?

If they want both to be paid, they’ll sue on the 3-year debt soon because they still have plenty of time to sue on the 5-year debt.  

[shadow99]

57 minutes ago, BV80 said:

If they want both to be paid, they’ll sue on the 3-year debt soon because they still have plenty of time to sue on the 5-year debt.  

That's what doesn't make sense.  They've already sued on the 5-year debt with the 3-year debt aging out.  The 5-year debt is just over $8K and the 3-year just under $6K.  Of course, they still have time to slip in a suit for the 3-year one before it's too late.

I only have 4 accounts left.  One has had the first court date and I've already submitted to JAMS.

The 5-year SOL debt has a the first court date in September.

The 3-year SOL debt also with Credit Corp is just sitting there.

Then, the last one is a very small debt that's with Midland.  I know how to settle with them, so not worrying about that one.

I'm seeing the light at the end of the tunnel and feeling anxious to finish these up.  I've had 5 other accounts go to court, I've settled without a court date on about 10 (when I had the money & was offered <50% to settle since I'm apparently the world's worst negotiator), and brought 3 current. 

I did call and try to settle the one with the 5-year SOL.  I was prepared to offer 25-30% lump sum after explaining the contract had an arbitration clause.  We didn't even get that far.  Anything under 100% and they wanted full financial disclosure.  I'm not doing that.

 

[alwayswinning36]

IF, you the OP are on Credit Karma, you may be able to review older credit reports. They aren't good at reviewing for your scores, but they will show things that were on your reports previously. That is only if you are on there, far as I know. I know I can review a lot of older reports of mine, but I have been using Credit Karma for years.