Charge Off reporting as Account in Good Standing?

[Anonymous]

So I charged off an account with Wells Fargo in 2012 DOFD was 09/2011.

I've disputed it about 5 times in recent year every time coming back verified. But I did again in March of this year came back verified, but it said "dispute resolution consumer agrees". And with that all the negative payment history was deleted it only showed the account and no payment history after that dispute.

Last week I ordered a full copy of my EX report mailed to me and I was looking at it today and it shows this account as an account in good standing, not a negative or derogatory account, it doesn't ago any payment history or lates either.

What are your thoughts on this? It says will be removed 08/2018 but in the meantime...

[Anonymous]

If it doesn't show up in a derog list then you've scored.

[RobertEG]

While it is not common for an account that has been charged-off to later return to an account in good standing, it is possible.

Once reported, the fact that a CO was taken remains in the credit file.  Normally, a creditor does not re-open an account that has reached the stage of being charged-off, but if the consumer thereafter pays the debt and the creditor decides to keep the account open, it could be returned to an open account in good standing.

Current status is only a snapshot of status as of last reporting, and reflects no historiical payment history information or prior status.

Thus, an account can be both a derogatory account for scoring purposes and be a current account in good-standing.

Is the account currently open for your use, and pays as agreed?

[Anonymous]

RobertEG - No the account closed in 2011 they sent the account to collections. No status showing pays as agreed. That's what's puzzling.

[RobertEG]

Does it still show reporting of the charge-off?

[Anonymous]

It says "Payment Status - Credit Line Closed"
Then "Account Type - Credit Card - Revolving Terms".

This is taken from my EX report, not a 3rd party site.

Also, not sure if it's shown the same way in the other 2 Credit Reports from EQ and TU.

What do you think?

[Anonymous]

No mention of Charge Off on the EX report

[RobertEG]

It appears to now lack any reporting of adverse information.

Why they deleted is impossible to say.

They could choose to reinsert at any time provided they have not determined that it is clearly inaccurate.

[Anonymous]

Maybe they just got tired of dealing with it?

Since the comments they wrote were " Dispute Resolved Consumer Agrees"

But they didn't contact me or anything, never really agreed so maybe they assumed I'd agree since any negative info was removed.