Can a charged off account show as open again?

[jbishop1001]

Money Recovery Nationwide has reported to 2 beaurus that the account was closed/never paid.

The 3rd report shows as open. My question is if I contact them offering 25% for a 5 year old debt in exchange for a PAY FOR DELETE (in writing, of course) - if they say no could they report the collection as open to the other 2?

[AndySoCal]

If the open is in the account type field it is not referring to the account being open or closed. Open as an account type means it is a single payment account. A single payment account is a charge card where the balance is due in full each month. A collection account falls into this catagory as well.  Basically thew creditor is saying the balance is due in full.

[jbishop1001]

No, I am looking at the "account status"

However, when it shows my "past due" it only shows an amount in 1 report - and it is in one that is "closed"

I am confused! I disputed them on all reports 1 year ago? Did they charge them off of 2 reports and leave 1 open?

[AndySoCal]

I asked if you were looking at the accout type field most of the time it will say revolving or installment.

[bichonmom]

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@jbishop1001 wrote:

Money Recovery Nationwide has reported to 2 beaurus that the account was closed/never paid.

The 3rd report shows as open. My question is if I contact them offering 25% for a 5 year old debt in exchange for a PAY FOR DELETE (in writing, of course) - if they say no could they report the collection as open to the other 2?

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I think they're actually reporting the same on all 3 CRAs. It just may show up differently depending on how that particular CRA does it. In general, CAs do NOT charge off balances. They may sell your acct to yet another CA, but will usually continue to report on your CR. 

Having this CA on your CR, regardless of whether it says open or closed/never paid, it's hurting your credit and FICO. Even PIF a CA doesn't really help your FICO until it comes off your CR. 

if you can pay 25% and get it off your CR - so all 3 won't show it at all - that's your best bet, assuming they'll agree to remove it. Your other option  is to wait another 2 yrs for it to drop off. It's up to you to decide if it's worth the amount you'd have to pay vs. the 2-yr wait. 

HTH!

[jbishop1001]

What if the SOL is up before the 7 years? I live in Michigan and the SOL is 6 years. (Which will be Jan 2015)

I know it's probably better to let it fall off the report, but I want to apply for a mortgage and an unsecured card so I want them gone asap.

[Shogun]

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@jbishop1001 wrote:

Money Recovery Nationwide has reported to 2 beaurus that the account was closed/never paid.

The 3rd report shows as open. My question is if I contact them offering 25% for a 5 year old debt in exchange for a PAY FOR DELETE (in writing, of course) - if they say no could they report the collection as open to the other 2?

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All collections are posted as open.  If it was closed, it would have to have a $0 balance.

[RobertEG]

You must look at the OC and debt collector reporting separately.

Many credit reports merge information derived from each, creating confusion.

The OC account status of open or closed is separate from the collection.  When a debt has been charged-off, it is seriously delinqent, and the OC account is invariably closed.

Credittors dont permit consumers to continue to use credit on a seriously delinquent account, particularly if they have reproted that it is not going to be paid, which is what the reporting of a CO states.

All collectins have an Open status until the debt collector's authority is terminated, or the debt is paid.

Reporting of Open by a debt collector has nothing to do with the status of the OC account.

As stated in prior posts, if the debt collector has reported their collection as closed and the debt has not been paid, they must also report $0 currently under their collection.

If they still have active collection authority and you dispute the status, then yes, it would most likely result in correction of their reporting to show the collection remains Open.

I would suggest letting that issue rest.