07-18-2010 07:10 PM - edited 07-18-2010 07:21 PM
I had a Chase account a couple of years ago that shows on my credit report as a charge-off. However, the credit report also shows that all payments were current each month prior to the charge-off and I also have bank statements that show payments were being made. How can an account become a charge-off with no reported late payments? And should I contact Chase prior to filing a dispute with the credit agengies?
07-18-2010 07:12 PM
Was it charged off?
Were you current?
07-18-2010 07:26 PM
Ok, so why did Chase charge off a current account? I am confused
Was it in default but you paid back to an official/unofficial payment program? And how long ago was this?
07-18-2010 07:36 PM
Lets try it this way:
I had a Chase account a couple of years ago that shows on my credit report as a charge-off (Was it a charge off). However, the credit report also shows that all payments were current each month prior to the charge-off and I also have bank statements that show payments were being made(were they they corect payments in accordance with your cardholder agreement, with your account never being past due, in default, charged off previously, handed to collections or having any adverse action done to it?). How can an account become a charge-off with no reported late payments? (if the payments were not being made to the card holder agreement) And should I contact Chase prior to filing a dispute with the credit agengies?
07-18-2010 07:48 PM
I'm just as confused as you are.
The payments were being made in accordance with the cardholder agreement. I paid the minimum amount due every, single month. And I was nowhere near my credit limit, so I'm baffled.
If the payments were not made as specified in the cardholder agreement, would it not show on my credit report that I had overdue payments?
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.