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Epic Contributor
Posts: 29,715
Registered: ‎03-19-2007
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Re: charged off change to paid in full

I did not mean there is no status, I was emphasizing that there is no THE status, as referred to in the original post.

The point being simply that there are many status codes that record different items, and the current status is but just one, a simple snapshot of today, with no reflection of any prior status.  Reliance on change in one status, particularly current status, does not alter the continued inclusion of prior derogatory reporting in one's file or credit report.


When current status is updated to reflect payment, it alone no longer reflects any prior delinquency status, and other status codes retain the recording of the path to that current snapshot status. 


Prior chargeoff status, once paid, is not reflected in current status, it is reflected in your prior payment rating and payment history status and codes.


Established Contributor
Posts: 909
Registered: ‎08-30-2007
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Re: charged off change to paid in full

djrez4 wrote:

I was just talking with Capital One's exec line yesterday about a similar topic.  My one baddie is a charge-off from them from 2007.  I paid $700 of the $1070 balance in 2009 and they considered it settled.  It's not reporting entirely correctly and I've been disputing it without luck.  I asked if they'd remove the trade line if I gave them the extra $370, but they refused.  I wonder if they'd be willing to update it to PIF and in good standing.

I have heard of some success with Cap1, but not a lot.  I had a paid charge-off for a little over $800 assigned to a CA who deleted, but Cap1 refused to delete the charge-off derog from reporting after I paid.  Of course, I didn't know then what I know now or I would have been much more aggressive knowing they were not going to budge even if I paid it.  The initial debt was less than $500, and I paid the entire $800+  promptly after I discovered the CO status.  It stayed on my report for about 6.5 years after the DOFD, dropping off the CRA's one at a time over a few months.  All of my letters came back with form letter responses.  I never got up to the exec level to my knowledge.

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