Can chase still report a balance after sending 1099-c

[Anonymous]

Hello, I have a charge off from chase from 2011. They sent me a 1099-c last year but yet are still reporting a $7000 balance. I disputed once with each credit agency but none changed the balance. I just want to know for sure if they have to update to a $0 balance after sending a 1099-c and if so what actions I can take to get it fixed. Thanks in advance.

[Anonymous]

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@jmortensen1 wrote:

Hello, I have a charge off from chase from 2011. They sent me a 1099-c last year but yet are still reporting a $7000 balance. I disputed once with each credit agency but none changed the balance. I just want to know for sure if they have to update to a $0 balance after sending a 1099-c and if so what actions I can take to get it fixed. Thanks in advance.

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In your dispute did you send a copy of the 1099C?

[Anonymous]

Yes I did but all 3 CA just left the balance the same and said updated or remains and nothing was changed.

[Anonymous]

Mine shows a balance as well, even after the 1099c

[Anonymous]

I have had the same thing happen, at this point I am waiting for it to just age off.   It seems to be a grey area legally. 

[RobertEG]

You could, if you wish to pursue, file a formal complaint with the CFPB asserting the CRA determination in your dispute was improper.

I have seen several prior posts relating to this issue, and have never seen an update wherein the CFPB decided to make any ruling on this issue.

They are apparently not willing to take a position, and leaving it to the courts for any resolution.

Thus, I would not anticipate any assistance from the CFPB.......

[Anonymous]

Thanks for everyone's feedback. Sort of what I figured from my reading that it depends on who you ask weather it will show $0 or not so good I'll probably just wait for it to fall off, only a little over a year anyways left.