Got title but says "charged off"

[Anonymous]

I had an old auto loan from 2011; the SUV was repo'd and I recovered it and paid the past due. When I got my bonus from work a month later, I paid the entire balance off and they mailed me the title.

My credit report initially showed that it was "charged off". I disputed and it was updated to paid, charged off. On one credit report it is reporting $66 was charged off.  I called Wells Fargo and asked how could they send me the title if I still owed $66? I actually called them to get my pay-off amount before actually paying it off! When I called, she said I paid it after it was charged off, though I do not know how that was possible because I wasn't behind after I recovered it. I paid it off October 2011 in full.

Anyway, I disputed again and the credit bureaus refuse to remove this as a charge off? Any suggestions? Would they really give me the title if I still owed them money? Is this legit? I was thinking about sending the CRA's my title with another dispute.
Thanks for you input.

I should add that it does not show as a repo on my CR since I recovered it and paid it off, but still showing as a charge off.

[SunriseEarth]

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@785FICOLOVE wrote:

I had an old auto loan from 2011; the SUV was repo'd and I recovered it and paid the past due. When I got my bonus from work a month later, I paid the entire balance off and they mailed me the title.

My credit report initially showed that it was "charged off". I disputed and it was updated to paid, charged off. On one credit report it is reporting $66 was charged off.  I called Wells Fargo and asked how could they send me the title if I still owed $66? I actually called them to get my pay-off amount before actually paying it off! When I called, she said I paid it after it was charged off, though I do not know how that was possible because I wasn't behind after I recovered it. I paid it off October 2011 in full.

Anyway, I disputed again and the credit bureaus refuse to remove this as a charge off? Any suggestions? Would they really give me the title if I still owed them money? Is this legit? I was thinking about sending the CRA's my title with another dispute.
Thanks for you input.

I should add that it does not show as a repo on my CR since I recovered it and paid it off, but still showing as a charge off.

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As long as the balance shows $0, since it was paid, it could still report as "charged-off."   Settling didn't remove the late payment history, unfortunately.  "Charge-off" just means that the bill was late for more than 180 days.

I'd recommend sending GW letters to see if they'll remove the CO information.   

[Anonymous]

That is why I am confused. It was never settled. I paid the entire obligation on the loan. I called for the pay off amount and then paid the exact amount. It's showing $66 charged off. I understand now how a charge off could continue on your report, but it just doesn't make sense in this scenario. It should have never had any charge off amount. I think I'm going to send my title in and try to get it correctly updating. 

I wish I would have caught this back in 2011, but unfortunately just pulled my credit report recently and just now dealing with it.

[SunriseEarth]

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@785FICOLOVE wrote:

That is why I am confused. It was never settled. I paid the entire obligation on the loan. I called for the pay off amount and then paid the exact amount. It's showing $66 charged off. I understand now how a charge off could continue on your report, but it just doesn't make sense in this scenario. It should have never had any charge off amount. I think I'm going to send my title in and try to get it correctly updating. 

I wish I would have caught this back in 2011, but unfortunately just pulled my credit report recently and just now dealing with it.

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Well, that just means that $66 was over 180 days late.   I still thing GW is worth the effort in this case.   It seems like a small amount of money to give you a serious derog over.