An alleged charge off is not showing up on CR?

[WallyxD]

I went into Wells Fargo to cash a check (I bank with PNC) but went to Wells Fargo because the issuer of my check uses Wells Fargo. A specialist tried getting me to sign up with Wells Fargo and I told them no because I owe them. He looked into it and gave me I guess a collections number to Wells Fargo and told me to try to take care of it cause I don't want it to get for so late that it'll show up on my credit report. So I called the number, the amount I owe is about 170$, I asked what I can do as of that moment so that it wouldn't affect my credit report, and the rep told me the amount was already charged off, (I think she said in the summer of 2011). Now for my question, I use CS and CK regularly so why do I not a charge off on my account? I also didn't see a charge off when I printed out my reports from ACR.com either. 

So has the charge off affected me? I've made arrangements with them to pay it off so that it's one less thing I have to worry about so regardless it'll be taken care of.

[llecs]

Was this a CC or loan, or was it a checking? 

[WallyxD]

It was a checking account.

[RobertEG]

Since its a checking account, I presume they have not reported anything to the CRA.

Some banks will report derogs once they occur, but they are not regularly reported "accounts."

Thus, they dont get reported as routine items akin to CCCs, who do regular monthly reporting on virtually all accounts.

A charge-off is an internal bookeeping measure, and if they have not reported, it is not affecting your score at all.  It's invisible to others.

The potential is that they may either report the OC, refer for collection, or even bring civil action, so it's great that it is being paid.

[WallyxD]

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@RobertEG wrote:

Since its a checking account, I presume they have not reported anything to the CRA.

Some banks will report derogs once they occur, but they are not regularly reported "accounts."

Thus, they dont get reported as routine items akin to CCCs, who do regular monthly reporting on virtually all accounts.

A charge-off is an internal bookeeping measure, and if they have not reported, it is not affecting your score at all.  It's invisible to others.

The potential is that they may either report the OC, refer for collection, or even bring civil action, so it's great that it is being paid.

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Thanks a lot for your answer man. Since my report is still "fresh" at only 9 months AAoA, I definitely was trying to avoid having either a charge off/collection on my report.  But at least I'm taking care of it so that I won't have to worry about it. Thanks again.

[llecs]

Banks (maybe all banks) don't report a checking CO. However if a CA were to get ahold if it they can report. It might also be on your Chexsystems report, or on other CRAs like Telecheck.

[WallyxD]

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@llecs wrote:

Banks (maybe all banks) don't report a checking CO. However if a CA were to get ahold if it they can report. It might also be on your Chexsystems report, or on other CRAs like Telecheck.

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Yepp it's on Chex. I requested a Chexsystems report after I was denied membership to a CU. Speaking of that, what can I do so that I won't have a problem opening an account with a CU again? Pay off what's on the report then call the bank and ask them to remove it?

[llecs]

I'd try for a PFD citing Chex. If after a few attempts they keep saying No, then I'd PIF and then GW later. I got a checking CO removed via paying it and then talking to my bank.

[WallyxD]

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@llecs wrote:

I'd try for a PFD citing Chex. If after a few attempts they keep saying No, then I'd PIF and then GW later. I got a checking CO removed via paying it and then talking to my bank.

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So should I call the bank before paying in full or just pay in full and use that as "ammo" when talking to them, hoping that they'll get rid of it?

[llecs]

No, I'd mail a PFD letter first. One oyu pay you lose leverage.