topic Re: Charge off in Rebuilding Your Credit

Charge off

MOMO30 — Mon, 21 Jan 2013 15:57:47 GMT

Hello I have a charge off from First Premier account charged on in 2010 yet they continue to update late on my credit report

Can they do that? Even though the account is charged off?

Re: Charge off

fishbjc — Mon, 21 Jan 2013 16:00:59 GMT

I have not had that happen with any of mine. It's charged off and goes to a CA. Do you also have a collection?

Re: Charge off

MOMO30 — Mon, 21 Jan 2013 16:03:18 GMT

Yes its in collections Arm collection agency

Re: Charge off

guiness56 — Mon, 21 Jan 2013 19:13:13 GMT

MOMO30 wrote:
Hello I have a charge off from First Premier account charged on in 2010 yet they continue to update late on my credit report
Can they do that? Even though the account is charged off?

Do they still own the debt? Are they reporting a balance due?

If they own the debt, even though it is charged off, yes, they can report as late until it is paid in full.

Just because an OC COs a debt does not mean it goes to a CA. Not all creditors rely on a CA to collect COs.

Re: Charge off

RobertEG — Mon, 21 Jan 2013 20:00:38 GMT

While an account must, of course, be delinquent in order for a creditor to hold it uncollectible and thus do their accounting magic by moving it on their ledger as an unreceivable, that is not an additional delinquency status. The status of delinquency marches on, and the full debt is still due and collectible.