Can They Do This- NEW

[Anonymous]

lost car shortly after Hurricane Katrina (Jan 2006). Got it back & caught up payments & still paying on time. up until june '08, this wasn't reporting in any negative way - it was Current, Pays as Agreed.
Now it's reporting as a "charge Off" - Can they do this after two years of reporting positively

Aslo, is there a huge difference in gaining points in credit score between a "charge off" and a "repo"?

[Guardian]

seems odd that they would suddenly report an item as charge off when reported positively for two years. you sure nothing has changed?

[Anonymous]

nothing happened - it changed when requested an investigation concerning paid off debt with other creditors

[Guardian]

that sucks. in my personal experience, I have never had them change the status of another creditor just because I disputed something. unless for some bizarre reason they have requested an update from each and every creditor on your report which seems odd again since I have not seen that happen either.

have you considered talk to them creditor and straight up asking them why they are reporting it as charged off when it has been in good standing for two years? see what they say and at the very least you might be able to get a failure to respond from them which might allow you to get it removed directly from the CRA.

[Anonymous]

     I second the thought that you should call them to find out what is going on.  After two years of good pay I cant figure why that would change, but they should be able to explain it to you.  Good Luck Vicki