Chase Charge OFF

[Anonymous]

If Chase charged off one of my accounts from a couple years back, and sold it to a collection agency can chase still report the account even if they sold it?

[egaithe]

yes and they will.

[RobertEG]

Yes,

They must only upate the balance to $0.

The purchasing debt collector can additionally report a collection.

[Anonymous]

Damn, I decided to make the payment arrangement with collections. I paid half Friday and the rest next Friday. Balance at charge off 991. Originally 1500 CL

[Anonymous]

They have been reported the account 90 days late for a few months now. With a 991 balance. Going to fight to remove it once balance is paid.

[RobertEG]

Inaccuracies are not basis for requiring deletion.

They must invesitigate and either verify the accuracy as reported or correct so as to overcome the inaccuracy.

Deletion is only required if they dont do one or the other, and even then, deletion applies only to the specific information under dispute.

The fact the account was charged-off would not be deleted based on inaccuracites in other reported information.

[Anonymous]

Fair enough. That's why I'll just pay the balance and hope for the best.

[Anonymous]

So even if I pay the balance to zero, the collection will still negatively affect my score until its drop off date? Chase reports the account as 90 days late every month.

[RobertEG]

Yes, the collection will continue to affect scoring as long as it shows in your credit report.

However, after paying, both the debt collector and creditor will disconinue any updates to show that it remains unpaid, and thus their derog reportings will begin to age, with both the collection and charge-off becoming excluded no later than 7 years plus 180 days from the same DOFD on the OC account.

What is the date f first delinquency in the chain of delinquency that included the charge-off?

[Anonymous]

As far as i can see in the Credit report Jan 2014 was first delinquency. Ive had the account since August 2006. EQ and EX report the 90 days late every month since Jan 2014. TU reports no balance and no delinquency. Which is weird i think.