Old Charge-off - Not sure if ever paid, strategy?

[Grape]

Again, thanks to everybody for the advice on here. Thanks to this forum and its members, I have devised a strategy to lower my Util %, determined whether or not to try and get rid of an old 30-day late, and had a CA delete the collection from my credit report! Now, I am ready to tackly my final derogatory item.

I have an account with a southern california utility company that went delinquent and it is reporting slightly differently to the different CRA.

For my TU report, the account indicates "Payment after Charge Off/Collection" and the description is "Paid Profit and Loss". There is no late payment date noted on the account. 

In my Equifax report, the account indicates a 90 day late in Jan of 2004 and the current status is noted as "Bad Debt/Collection" and the description is "Paid Charge off".The worst late payment is noted as a 120-late in February of 2004. (Odd that the 120 day is not noted in the Seven Year Payment history, but is noted as my worst delinquency.)

In my Experian report, it is noted as "Paid, was a charge off" and in my 24-month payment history the status is a Key Derogatory from March '04 through October '04 and then is noted as "Ok" in Nov. 04. 

The "Date Open" on all reports is noted as 5/2001.

This account, if I recall, never went to collections and the Utility is the one reporting on my CR. To be honest, I can not recall if I ever paid this account or not (the balance when it went delinquent was likely something along the lines of $75). This is one of 2 lates showing on my CR. My question is, should I contact the utility and offer a PFD first (any chance they charge interest on this and therefore will hit me with a multi-hundred dollar bill?) or should I write a GW letter? Or should I essentially write both stating I can not recall if this debt was ever paid and if it was not would like to PFD and if it was GW them?

Thanks for the advice, and I hope I was clear enough.

Message Edited by Grape on 03-23-2009 11:28 AM

[Anonymous]

When was the last reported/updated date of the account?

ETA: Also, when did this account go delinquent? Look for a DOFD on your EQ report or a removal date on your EX or TU report.  Only shows on reports directly from the CRA.

Message Edited by sidewinder on 03-24-2009 09:17 AM

[Grape]

I obtained my Experian report directly from Experian but do not see the date you mention. The only data on the account is as follows:

Account Name: SO CALIF EDISON COMPAN 

Account Number: XXXXXXXXX (Xd out for privacy reasons by me)

Acct Type: Unknown - Credit Extension, Review, Or Collection 

Acct Status: Closed 

Monthly Payment:  

Date Open: 5/1/2001 

Balance:  

Terms:Unknown 

High Balance:  

Limit:  

Past Due:  

Payment Status: Paid, was a charge-off 

Comments:  

Then, it shows the 24-month history and shows a  Key Derogatory marking in March of 2004 and June of 2004 and then an "Ok" status in November of 2004. There is no removal date noted. Can I call into Experian customer service to get this date or should I be seeing this on my report? Thanks for the help.

On my TU report I got through myFico, the same account is noted as closed in January 2004 and Date Paid out as November 2004, if that helps at all. 

Message Edited by Grape on 03-24-2009 09:16 AM

[Grape]

Bump.

I also pulled my TU report directly from the Transunion site and there is nothing on this report about fall-off dates or date of first delinquency for this account or my single collection account (which I GWd and they wrote me back 2 days ago that they will delete it from my credit reports...hope that happens soon but that is a different item). Is it odd that my reports do not show these dates??

Message Edited by Grape on 03-24-2009 03:10 PM

[Grape]

Update:

I called TU and was able to get the dates (although they do not appear on my printed report):

the DOFD was 1/2004 and the estimated removal date is 12/2010. 

[Grape]

Bump

[Anonymous]

My wife had an experience with TU (now TXU in Texas).

We were successful in a PFD.  But if your situation is all ready paid, then you will likely have to try the GW letter.  If they don't go for the GW, then you can ask for "investigation" directly with TU.

You can also write a letter to TU and ask for an "investigation of account."  We did this and they sent back printed computer statements.  You need to state that you don't recall this account and are trying to verify the information and determine the status and details.

Then compare the statements to the CRA's so you know which are not correct.  Once you find errors on the CR's, you can dispute the inaccurate information.  This can go three ways.  1.  TU may not respond and correct the info and the CRA will delete after 30 days for no response.  2.  TU will update and correct the listing.  3.  TU will verify the info as is and your remarks will say "Consumer disputes information - Meets FCRA"

If they fail to verify and correct mistakes, the tradeline must be deleted.  If they correct, you will have an updated "DATE REPORTED" which will be more recent and could impact your score if FICO picks up the derog related to more recent reported date.

If the item were UNPAID, then I could give you our Accord and Satisfaction example which TU Electric (now TXU here) accepted and deleted from my wife's CR.

[Grape]

Thanks txjohn.

So far this week:

(1) I have had my one and only collection account deleted from my CRs due to a GW (saw today it has been deleted and my score dropped 8 points, but I am guessing that is because I have been rebucketed, so in the long run is better).

(2) Today i disupted with the 2 CRAs the AU account we discussed in another thread. My AAoA will take a minor hit, but getting this negative off my reports I think is worth it.

(3) This utility charge-off is my final negative item. I pulled my Equifax report today directly from Equifax and the account is noted as a Closed Account under the Installment section of the report. The Current Status is noted as "Charge-Off" and the Activity Description is: Paid. Although, the Actual Payment section is noted as: $0 alhtough it does have Date of Last Payment noted as: 11/2004.

Is it worth trying to contact the Utility Company directly first to try and figure out the status of this account or is it best to go through the CRAs? I dont want a dispute that does not go my way showing on my credit report. 

As for the age of this account, the date opened is noted as 5/2001, so if I am successful in getting this deleted I would have no negatives on my report, but my AAoAs would drop by about 6 months and bring me to about 4.6 years. I am not so much worried about the variations between reports, but the "cleanest" way of getting this removed (if I should in fact try and get it removed). 

Would you reccomend writing the Utility company directly and asking them if this was ever paid, and if it was include the GW route in the letter and if it was not offer in the same letter a PFD (the Accord and Satisfaction you mentioned?)

Message Edited by Grape on 03-26-2009 04:27 PM

Message Edited by Grape on 03-26-2009 04:28 PM

[Anonymous]

Can you PIF? Is this beyond SOL?

If the answer to either of those is yes, since this is reporting paid, I would just send a normal GW letter.

If they respond that it isn't paid, then offer PFD.

[Grape]

Sidewinder...I am sure I could PIF, assuming they have not charged 5+ years of interest on this account. I am assuming it is past SOL.

However, I did a search on these forums for others' dealings with SCE (the utility co in question), and I am considering not touching this CO at all. 

Here are the other threads:

http://ficoforums.myfico.com/fico/board/message?board.id=rebuildingcredit&message.id=4487&query.id=2...

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&message.id=43233&query.id=241...

http://ficoforums.myfico.com/fico/board/message?board.id=rebuildingcredit&message.id=11147&query.id=...

As I noted above, this CO is set to fall off in 12/2010. So, because it is not clear whether this is paid and based on others' experiences, it appears any GW would likely not have any positive affect and if I contact them and it was never paid and I pay (odds of PFD look slim to none as well), then I run the risk of this staying on my report for another 7+ years. Am I thinking correctly on all this? Do people agree that I should just stick it out for the next 20 months and let this CO sit? How bad will this single and only negative item affect me? Any ideas on a max score possibillity? (I have 6 positive revolving accounts, and currently paying down my Util % with goal to reach 50% in 4-5 months).

Thanks again for all your advice.