Chase charge off

[Anonymous]

I have a Chase charge-off for around $10,000. At the beginning of 2014 they sent me a 1099-C and I paid the taxes on the debt. what is the next step I need to take in order to either get it removed or to get the account with a zero balance. I know it is not likely to get the account removed so what is the best thing to do in order to get the balance to show zero? They have not updated on my credit report for about a year now but it is still on my credit report as a negative account and I need to get it showing a zero balance. I have already disputed with equifax and they have verified the account. The debt is out of the SOL. I live in Texas.

[RobertEG]

I am presuming that the 1099c was for the full amount of the debt.....

They have cancelled the debt.  Thus, there is no more debt.

They were required under FCRA 623(a)(2) to promptly update any prior reporting so as to maintain its current accuracy.

Once they cancelled the debt by sending the 1099c, they were thus required to have promplty updated the account balance to $0.

Send them a direct dispute under FCRA 623(a)(8), with the issue under dispute being the accuracy of the current account balance based on their requirment to have updated under FCRA 623(a)(2) promptly after the debt was cancelled.

[Anonymous]

Thank you for your response. Do I send the direct dispute to chase or the credit bureaus?