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Is it legal for a CCC to report five months late?

New Contributor

Is it legal for a CCC to report five months late?

I have a charge off that was paid 3/19/09 and it is reporting a charge off as of Sep 09.

 

I understand it is a charge off but can they report it being charged off in Sep (6months) later instead of the regular chage off date?

 

Thanks in advance.


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Re: Is it legal for a CCC to report five months late?


krzyvern wrote:

I have a charge off that was paid 3/19/09 and it is reporting a charge off as of Sep 09.

 

I understand it is a charge off but can they report it being charged off in Sep (6months) later instead of the regular chage off date?

 

Thanks in advance.


No it's not illegal.  It takes 180 days before a bank declares an account uncollectible. 

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