How can this be! Fustrated! Help!

[Anonymous]

I settled on a charged off account back in Dec of 07 with WFNNB. Every month since I settled shows late payments up until May of 09 when it reflects the account as charged off when, in fact,it was charged off in Dec of 06. I called the bank and they informed me that because i did not pay off the full balance, the remaining $82 will reflect as owed and will continue to show late. Now here's the funny part,every representative i talk to states, at first, that it should not show up as late, after i am put on hold then they change the story and say that they are reporting correctly. I requested a letter stating, date of charge off and date of settlement. My CR's reflect settlement but two of the 3 (EQ reflected pd as agreedd up until i disputed, & Ep) alway reflected late payments after settlement) show the late payments after settlement, but TU shows paid as agreed after settlement date. Is this correct? Can they continue to post late payments after the account is settled? Help!

[JoeBJay20]

Did you get a letter from them stating that the account would be closed as settled after you made payment?

[Anonymous]

Hi ibelvhim!

First, stop disputing thorugh the CRAs. Did you get an agreement, in writing, to the settlement terms from the OC? If so, do you still have a copy of that agreeement?

[Anonymous]

No, I do not have the settlement agreement in writing. On 7/6/09 I requested proof of date of settlement.  Since my orginial request I call everyday to verify the request and that the letter has been mailed. In essence, I now am a collector and will continue to be until I receive written verification.To date I have not received it. Today, I called the OC and spoke with a superviso, he informed me that they sent an updated status to the CRA to change the payment history. The issue that I am coming up against is the date the settlement reflects on each CR. EQ does not show a settlement just date of last payment. Ex shows the date of settlement as 6/09 and TU reports correctly as 12/07 and no late payments.

[JoeBJay20]

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@Anonymous wrote:

No, I do not have the settlement agreement in writing. On 7/6/09 I requested proof of date of settlement.  Since my orginial request I call everyday to verify the request and that the letter has been mailed. In essence, I now am a collector and will continue to be until I receive written verification.To date I have not received it. Today, I called the OC and spoke with a superviso, he informed me that they sent an updated status to the CRA to change the payment history. The issue that I am coming up against is the date the settlement reflects on each CR. EQ does not show a settlement just date of last payment. Ex shows the date of settlement as 6/09 and TU reports correctly as 12/07 and no late payments.

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Unfortunately, if you don't have an agreement in writing, for all intents and purposes it doesn't exist.  While there are some creditors and CAs that will honor verbal agreements, it's not the case more often than not.