Reply
New Visitor
Posts: 2
Registered: ‎04-18-2007
0

How can one loan get settled twice?

I have a credit card account that says it was charged off. I then made a settlement with them to show that it was paid in full. Two years afterwards it stated that it was charged off again? How is this possible? I disputed this to the credit bureaus stating that it was already charged off, but they did not do anything. This was about a year ago. Is there anything else I can do? Eric
Moderator Emeritus
Posts: 5,436
Registered: ‎03-10-2007
0

Re: How can one loan get settled twice?



eric92106 wrote:
I have a credit card account that says it was charged off. I then made a settlement with them to show that it was paid in full. Two years afterwards it stated that it was charged off again? How is this possible? I disputed this to the credit bureaus stating that it was already charged off, but they did not do anything. This was about a year ago. Is there anything else I can do? Eric

 
Settlement does not negate thefact that it was charged off.  Does it say 'settlement accepted on this account' in the notes?  If not I would dispute it with the CBs stating that the account has been paid and settled 

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.