@steppy wrote:My husband has a charge off with Chase, but the dates were wrong so I disputed the information. So it was updated on the credit report to fall off Sept.2015. The thing is it was showing 0 balance with 8500. charge off balance, now it is showing 16000 balance with a 8500. charge off. His score dropped 40 points on CK due to this. Is there anything I can do. Please help, I hope I have not really messed up.
The score drop is due to the CO updating to the current date it looks new to Fico & other Fakos. I think I would now send a direct dispute to Chase to compel them to report the correct information, the damage to score is done and they only way to get those points back is to have the TL removed or time for it to age, in any case it cant report more than 7.5 yrs from the DoFD that led to the CO.
@steppy wrote:What would I dispute if it's reporting the right dates now.
You stated it was reporting 0 bal with 8500 CO and it went to 16K bal with 8500 CO, there is something wrong there....
@steppy wrote:I thought maybe they updated with interest or some other fees. I will write a dispute letter tonight. And send certified mail tomorrow. Do you have any suggestions what I should include in the letter. I am learning so much from your post. I was really making progress until this.
Here is the info thread on the Section 623 Direct Dispute with the OC
http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Direct-dispute/td-p/2309095
Oh, one thing I forgot to mention is to make sure this debt is past your states SOL, you dont want to poke them if they can still successfully sue you for the debt. The SOL time clock starts from the DoFD that leads to the CO.