07-13-2012 03:44 PM
I disputed and account and now they are reporting the account as colletion instead of a charge-off. This account shows last activity was in 2006. How can I go about getting this settled . And can they do that?
07-13-2012 03:51 PM
What specific information did you dispute, and how was the dispute resolved?
Their subsequent reporting depends upon the issues under dispute, and whether they verified the accuracy, or agreed to some inaccuracy.
Reporting of a collection is not an "instead of" the prior reporting of a charge-off. They are separate. The charge-off pertains to how they have treated the debt in their accounting ledger, while a collection relates to additional efforts to continue collection of the debt. Yes, both can be reported.
07-13-2012 03:59 PM
I disputed the the debt becuase it is not mine it belongs to my wife, but we were seperated at the time. I was stationed in Irag and she did a pay day loan in my name and I have tried to explain this to them but noones cares. I ask them to list it on her credit alone and take it off of mine. And now they have changed it to collection instead of charge-off and my score dropped 18 points.