charge offs

[Anonymous]

is it legal or fair for a credit charge co to keep charging interest AFTER they have charge off the balance?  Also,  can they report payments as currently being late even AFTER the charge off?

[Tuscani]

Yes and Yes

[Anonymous]

OK, I've also got a question about charge-offs...apologies if this has been covered elsewhere in the various Forums...

I have an auto loan listed on my credit report as a "paid charge-off."

In 2003, my car was reposessed. However, as soon as that happened, I begged and borrowed from loved ones and I DID repay the auto loan directly to the creditor's collections department and in full. I got the car back the next day and a couple weeks later I received a letter from from the original loan creditor stating my account was paid in full, along with the title to the car. I do rightfully acknowledge my failure to repay the car loan on time (and am willing to take an appropriate dent to the credit), but if the original creditor acknowledges receiving payment in full (on their company letterhead), can I assume that the debt was never really charged off? Am I in denial to think I could dispute this with the creditor and with the credit agencies as a "Paid" account (albeit with the negative payment history listed)?

Thanks for any help!

[Anonymous]

I would most certainly dispute with the CRA's especially if you have proof it is paid in full and that you have the title to the car.  I would fax over the paperwork to them or I would call the creditor first and ask why is it showing charged off when it is paid in full and if they could remove it.

Eve

[Anonymous]

Many thanks! —Phoenix