CHARGE OFF

[Anonymous]

I have a charge off on my Experian credit report from 2012 from Chacon Autos.. but it doesnt chow an amount or anything of that nature. I was wondering if I could get this removed or what would be the steps to rectify the charge off. Any ideas?

[Anonymous]

Do you owe them money?  If so, first step is to find out how much the charge off is for.  Check the other two bureaus and see if they show an amount.  Once all that's determined you can go from there, possibly with a PFD.

[RobertEG]

Identify what you consider to be inaccurate, and send a direct dispute to the creditor.

They then have 30 days to conclude an investigation, and either verify the accuracy as reported, correct the inaccuracy, or deete the item of information.

If you do not dspute the fact of the CO itself, but only the accuracy of information pertaining to the CO, there is no requirment to delete the CO as an outcome of the dispute.

If the CO is correct, it might be better to offer a pay for delete (PFD) before it goes to a debt collector, which would get the debt satisfied, avoid the additional reporting of a collection,and removve the charge-off.  

In my opinion, a dispute might be viewed as avoidance of payment of the debt, and thus referral for collection.  Particularly if any inaccuracy can simply be corrected.

[Anonymous]

I have called Chacon to try to get the amount...they have no info on the amount of the charge off or what even happened to the car. What is the next step to go?

[gdale6]

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@Anonymous wrote:

I have called Chacon to try to get the amount...they have no info on the amount of the charge off or what even happened to the car. What is the next step to go?

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I would be writing a letter to them demanding immediate removal of the CO.

[Anonymous]

Thats why i am completely lost. The car was totaled and at the time i did have insurance with State Farm. I called again, to find out if they had any information and was asked again "what happened to the car"... to "explain the scenario". I am lost as to how they don't know what happened. And they still have no information. Now I am just getting the run around

So would this be a 623 dispute? or how should i go about deleting this.

[Anonymous]

Did you owe more than the car was worth at the time of the accident?  If the amount paid by the insurance company was under what you owed than you still would have a balance that could be charged off.

[gdale6]

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@Anonymous wrote:

Thats why i am completely lost. The car was totaled and at the time i did have insurance with State Farm. I called again, to find out if they had any information and was asked again "what happened to the car"... to "explain the scenario". I am lost as to how they don't know what happened. And they still have no information. Now I am just getting the run around

So would this be a 623 dispute? or how should i go about deleting this.

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On second thought I would be sending them an ITS (Intent to sue) letter, What you will be putting in that letter is demand for immediate deletion from any and all CRAs or you will file suit for violations of the FCRA  Sec 623 (a) (1) (A & B)  and remind them of the penalties stated under Sec 616 (a)   Examples of this letter can be Googled.

[Anonymous]

@rising I asked them if there were any charges that the insurance did not cover..is that why it is charged off. The Rep said " Once again I have no info on your account at this moment ... Could we please give you a callback."

This is my third time calling and hearing the same thing. What could be the reason for why they have no record of it?

@gdale okay so a 623 letter is what i thought would be appropriate thanks!

[Anonymous]

So what is my basis for dispute at the moment . I saw that i needed to add that but don't know where to begin