Rebuilding Your Credit

[MOMO30]

Hello I have a charge off from First Premier account charged on in 2010 yet they continue to update late on my credit report

Can they do that? Even though the account is charged off?

[fishbjc]

I have not had that happen with any of mine.  It's charged off and goes to a CA.  Do you also have a collection? 

[MOMO30]

Yes its in collections Arm collection agency 

[guiness56]

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MOMO30 wrote:

Hello I have a charge off from First Premier account charged on in 2010 yet they continue to update late on my credit report

Can they do that? Even though the account is charged off?

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Do they still own the debt?  Are they reporting a balance due?

If they own the debt, even though it is charged off, yes, they can report as late until it is paid in full.

Just because an OC COs a debt does not mean it goes to a CA.  Not all creditors rely on a CA to collect COs.

[RobertEG]

+1

While an account must, of course, be delinquent in order for a creditor to hold it uncollectible and thus do their accounting magic by moving it on their ledger as an unreceivable, that is not an additional delinquency status.  The status of delinquency marches on, and the full debt is still due and collectible.