FPB C/O

[Anonymous]

So long story short I have 2 charge offs from a misguided attempt to rebuild my credit with not much info.

So I have an opportunity to settle the debt and move it from charge off which keeps reporting with a balance to closed.

If I were to take this route can I go to the CRB and dispute the accounts? Would FPB respond to a disputed from the bureaus if they got their money? Also would the 7 year clock restart?

Even if I settle and it stays I feel it may help my one score as it is still showing as revolving debt well over the limit.

Sorry about the duplicate questions...just need some answers to get rolling.

[RobertEG]

A dispute is limited to the accuracy of the specific information that is disputed.

What is the asserted inaccuracy that would comprise your dispute?

As for exclusion date, charge-offs are excluded based only on the DOFD on the OC account.

Nothing else under the account would affect its utlimate exclusion date.

[Anonymous]

Any thoughts on this?

[Anonymous]

Robert thanks for the response! So since first premier has not sold the account and still reports it open and charged off settling this would remove that reporting. I would then go the route of GW letters which don't seem to work often with what I have seen on here.

I guess ultimately as I work towards getting a mortgage I will need these in a paid/settled status anyway. And I can't wait another three years for exclusion.

[RobertEG]

If the debt has been charged-off, the account is no longer Open.

Creditors dont permit consumers to continue to add new charges to a charged-off account.

They have simply neglected to update their reporting to show closed.  If you tried to use the card, it would almost assuredly be declined.

You can always, if so inclined, file a dispute and get the status changed to closed. 

The balance on an account continues to be included in your % util regardless of whether the account is open or closed.

Paying will result in removal of a balance from your % util (along with its CL), not the change of status from open to closed.

[RonM21]

And with that, you could still pay it, showing that it wasn't just left alone. At least a lender would see you made an attempt to clean it up.

[Anonymous]

Yea I feel like my best option is to at least clear them up to settled at the least.

It appears noone has had much success but I guess I could just overload them with GW letters after the fact.