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Hi all,
My latest round of PFD and GW letters netted some serious success I wanted to share! I've seen about a 100 pt bump in TU score and 50 pts for EX and EF.
from getting a Military Star card charge-off removed from my report. I paid the charge-off in full, waited a few days, and then verified that the payment had posted. I then disputed the charge off entry in my credit report as paid in full (plus an incorrect balance was showing). I expected the charge-off to be updated as paid, but instead TU just deleted the entire tradeline!
Also had some luck with GW letters to Applied Bank (3 lates removed) and GM Financial (paid off account with old lates; lates removed).
Finally, PFD'd Harvest Associates and LCA. Both are gone from all three bureaus.
Patience, my friends, it will happen
Congrats on your success!
Currently sending PFDs to PRA and LVNV... is not looking good right now I may just have to PIF and then start the GW. I am also going to start GWing capital one for 1 30-day late payment, Wells Fargo (the reason for PRA), HSBC/BestBuy (the reason for LVNV).
Hoping to have similar luck!!!
Congrats, that is wonderful news!
Congrats!!! That is great success!!!
While you may have had success with a dispute after paying a debt that was previously charged-off, and others may wish to make the same attempt, it is technically not valid basis for a dispute, and thus not a procedure I would generally advocate.
In actuality, it should be handled as a GW request for deletion, not as a dispute of the accuracy of its reporting.
The taking of a charge-off is an internal accounting measure, and subsequent payment or non-payment of the debt does not alter the fact of the CO having been taken.
The consumer remains obligated for the full debt after a CO, and payment does not make the reporting of the CO inaccurate, and thus disputable.
Most likely, the CRA deleted because the creditor did not respond to the dispute. The CRA could have dismissed the dispute as frivolous or irrelevant without any referral to the creditor for their investigation. That could become your outcome if you use the dispute process.