cancel
Showing results for 
Search instead for 
Did you mean: 

Barclay Credit Card....Paid CA, now what?

tag
Anonymous
Not applicable

Barclay Credit Card....Paid CA, now what?

I had a creditcard with Barclay that I let get sent to a collections agency due to me being irresponsible with the card. However, I settled with the CA by paying ~$1500 of the original $1800+ balance (before I found this site). Since it's been paid, the balance has updated to $0, but there's still the payment status of "Collection/charge off". Is there any way for me to get this changed to just "paid" and have the bad charge off comments removed? I'm trying to rebuild and I was told getting this fixed would improve my score.

 

Any advice?

 

Message 1 of 4
3 REPLIES 3
Anonymous
Not applicable

Re: Barclay Credit Card....Paid CA, now what?

You need to do a campaign of "good will" letters.  Read about them on the board.  Basically ask Barclay to remove the negative information (or the tradeline altogether) as an act of good will and acknowledgement of the mistake of getting it to charge off.  I'm in the same boat with Wells Fargo Dealer Services.  It's by no means a guarantee but it's the best chance we've got until it falls off.

 

Curious, how long ago was the chargeoff and how long ago was it paid?

Message 2 of 4
Anonymous
Not applicable

Re: Barclay Credit Card....Paid CA, now what?

I'm not sure 100% which item to look for. I'm still relatively new to credit terms and am using CK as a baseline reference. According to CK, the account was closed in Feb 2013, DOLP was June 2014, and then it was last reported June 2015 (when I assume it was sold to the CA). 

 

My last payment with the CA was May 2016, where I paid the last of my balance.

 

Also, thanks for the response!  

Message 3 of 4
Anonymous
Not applicable

Re: Barclay Credit Card....Paid CA, now what?

The date of chwrge off woyld be the date of first delinquency (DOFD), and you won't find that on the credit karma reports. If you havent pulled your free annual reports from the credit agencies yet, go to annualcreditreport.com and pull a credit report to find the date.

Without the derog removed early, it will not fall off the report until sometime between 7 and 7.5 years from that date.

However, the older the derog ages, and the more positive credit you build over time, the less impact the derog will have on your score. However, it will always hurt you until it falls off or is removed. Just don't let that discourage you. Many people, myself included have been in your shoes or even a lot worse at one point or another
Message 4 of 4
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.