I might have a "unique" charge off situation and was looking for a little advice.
Back earlier in the year when I lost my job, finances got tight and my checking account at the credit union went $896 negative. I contacted them and advised my situation and that I would take care of the situation when funds were available. They said that was okay and they automatically put these situations onto an "unsecured loan" payback feature.
I never had to go in and sign any papers, but late March we started paying them back $100/week. Basically I got $800 of it paid, hit some tough spots and hadn't paid in the last few weeks. When I pulled my credit reports the other night, I noticed the credit union took a charge off 12/2008 for the entire amount. They have not updated the reports with the monies paid. More disturbing is they charged it off without telling me and then taking my payments.
What can I do? Can I even PFD a charge off? If so, think they will bite for the measely $96 owed? Or am I at the mercy of them to GW the account?
