AMEX Charge Off GW Letter

[roxy72]

Hi

I recently just paid off an AMEX charged off account and wanted to know if anyone dealt with Amex to have it removed from their reports.  I disputed with Equifax and Credit Karma said it has been removed but it still remains on my reports.  Or am I stuck with this for the next 7 years?  FYI, I was recently approved for the Amex BCP with a SL of $2000 requested increase after I recvd card and got another $2000.  

[Bcunniff9]

Why did you dispute the CO?

[roxy72]

It was having a negative effect on my accounts.  Should I have not?

[Anonymous]

No, you shouldn't have. The point of disputing information on your credit report is for inaccuracies. If you indeed had a charge off, then it was accurately reported.

[roxy72]

Whether it was inaccurate or not you do have the right to dispute whatever is on your credit reports.  I paid a debt off and wanted to clean up my credit and it's at the discretion of the credit to remove it or not.  

[Anonymous]

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@roxy72 wrote:

Whether it was inaccurate or not you do have the right to dispute whatever is on your credit reports.  I paid a debt off and wanted to clean up my credit and it's at the discretion of the credit to remove it or not.  

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Whoever told you this is wrong, wrong, wrong. The reason this system is in place is to protect consumers from erroneous information appearing on their reports. When consumers knowingly falsely dispute accurate, but unfavorable information, it corrupts the integrity of the system. It can have unintended results, and damage your relationships with creditors and the credit bureaus. On top of that, it is perjury. When you access your credit report, you swear that the information you are providing is truthful to your knowledge. This is a sworn statement agreeing that you are being honest under oath. You are using a law that protects consumers to your own benefit, knowingly providing false information. 

CreditKarma said it was removed because Equifax doesn't count items that are under re-investigation in its scoring model and CK views that as a removal (YMMV).

[Anonymous]

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@roxy72 wrote:

Whether it was inaccurate or not you do have the right to dispute whatever is on your credit reports.  I paid a debt off and wanted to clean up my credit and it's at the discretion of the credit to remove it or not.  

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As others have pointed, disputes are supposed to be used for the purpose of removing and/or correcting inaccurate information.  Additionally, there are guidelines for MyFICO regarding this.  Specifically this:

The only credit repair discussions allowed in FICO Forums are ones that exchange information on how to correct or remove real errors from your credit report – not accurate information that you want to get rid of because it may be negatively affecting your credit score.

http://ficoforums.myfico.com/t5/User-Guidelines-General/FICO-FORUMS-CREDIT-REPAIR-DISCUSSION-GUIDELI...

Thank tou you for your understanding and cooperation.

[RobertEG]

Any dispute that does not identify a specific, asserted inaccuracy can be dismissed without any investigation of the dispute or reinvestigation by the CRA as being "frivolous or irrelevant."  Absent an asserted inaccuracy, there is nothing to investigate. 

A dispute that lacks an asserted inaccuracy creates work on the part of the CRA and/or the creditor, does not require any investigation, and can create ill rather than good-will.

It can harm subsequent requests for good-will deletion, which is the proper process.

As for sending a GW to any given creditor, I would simply send and not be concerned with prior experiences of others.

Good-will is discretionary, and you wont know until you try.