04-13-2012 10:32 AM
I has 2 FP cards that charged off in 2009. I paid them both off in February of this year directly to First Premier. I just checked my reports using Wells Fargo Enhanced Identity Theft service and under the 24 month payment history for both accounts they show in charge off status until December of 2010, then they show No Data until January 2012, they show Charge Off in February 2012 and March they go back to No Data. Experian is the only one reporting this way and just happens to be my lowest score. Is there anything I can do about this or should I leave it alone?
04-13-2012 12:48 PM
I don't know the full answer to this question: a charge off is still a charge off. No Data just means there was no activity on the account for a given month.
Is the account showing as paid / satisified / whatever? What does EQ/TU have to say about the record?
04-13-2012 02:38 PM
I've read quite a few posts in the Rebuilding forum that talk about someone paying off an old charge off and the account updating to show a recent CO as the date they made the final payment. Not sure if it's right or not or how to go about getting it corrected. Maybe a mod can move this to the rebuilding forum and more people could offer some suggestions.
04-13-2012 02:41 PM
No data means that, for any reason, the creditor did not report any information under that code.
With no data reported, the prior information remains as its current status. It really means nothing of significance unless they should have updated to accurately reflect a change in information, and have not yet done so.
If you paid the charge-off, they should have updated the Current Status to Paid, and the debt balance to $0. That is the important reporting in your situation, as it is how those reading your CR know that you have satisfied the debt. They are required to timely update so as to maintain accuracy. A delay of a month or two would most likely be considered timely, and not worth sending a dispute.
Change in current status does not erase the charge-off from your credit file or report.
The fact of the CO is retained in your current Payment Rating Code as the level of derog status prior to its current status, and the CO status is additionally reflected in your Payment History Profile for each month it remained as your Current status.
04-14-2012 08:32 PM
It is showing a zero balance, paid and closed. It say the same for both EQ and TU but they don't show any payment history.