Account still showing as charge off?!

[bhenken08]

I recently paid a collection agency $381.00 for a charged of Credit card thru my local CU, 

The collection agency is reporting the account as paid but the CU still shows as charged off.

I called the CU and they said they received 224 from the collection agency but i still need to pay them $350.00 to have the account shown as paid.

Does this sound right? 

[2NE1]

Welcome to the forums!
The CC account is the OC, therefore whether you pay or not, their charge-off status TL is not going to change. The balance should be the ONLY change and reflect $0 upon payment. After the OC updates, it'll say something like this: "Account Paid in Full; was a Charge-off"

[bhenken08]

Sorry I'm still confused...

OC charges off my account......Sells it to a collection agency......I pay the collection agency.....But I still owe the OC? 

Thanks for the reply! 

Any advise on how to speed up the repair process? 

I started with a score in the mid 400's now my equifax is 614 TU is still 575

[2NE1]

OC charges off my account (YES)......Sells it to a collection agency (YES)......I pay the collection agency (YES, you should've offered a PFD (pay-for-delete) .....But I still owe the OC? (NO)... you're only responsible of paying one party. You could've also offered to PFD the OC in exchange of removing the negative charge-off TL (tradeline). Now in order to speed up your repair process you have to send GW (goodwill) letters to both accounts.

[llecs]

OP, what was the reported balance owed by the OC (not the CA)?

Did you get a settlement letter from the CA, or anything in writing before paying it?

[bhenken08]

The OC is showing $318.00 on my report. (still showing charged off) I did contact them and they said I owe them $300.00 they said they received 225 from the CA.

I'm going to my local CU tomorrow and will have them call the OC for me. 

I paid the CA 380. ( the CA is showing as Paid and closed on my report) 

I got no settlement offer/ anything in writing... Stupid move on my part but I was really exited at the time that my current bank approved me for a loan with a 560 credit score (they called all my creditors on my behalf and cut them a check for me)

[RobertEG]

The charge-off issue is really, at this point, immaterial to the subsequent payment of the debt.

The charge-off was an accounting measure taken by the OC, and subsequent status of the debt does not alter the CO.  It remains.

If the OC is still asserting that a portion of the debt remains unpaid, the issue is whether the payment to their agent, the debt collector, was clearly represented as satisfaction of the debt.  If so, the OC is bound by agreements you reached with their legal agent.

What specifically did the debt collector represent upon payment of the debt? 

Leave the issue of the charge-off out of the matter.  It is unrelated, unless you challenge their actual charge-off as having been improper at the time it was done.