How to dispute Applied Bank Business Visa Card

[Anonymous]

Help!!!!!!!!!!!!!!!!!!! I paid these scum bags on 04/05/12 $ 500 which included the past due and late fee's. I haven't heard anything from them since expect for on my credit report(which is schedule to come off 05/22) which they're claiming that i owe them $1200. How do I get rid of them! I believe that they weren't in compliance with The Credit Card Act of 2009! That's why they were shut down

[rmduhon]

When was the Date of First Delinquency (DoFD)? I'm asking because the dates don't add up. If you paid it in 2012, was that just to get it current or was that the amount of the charge off? A fall off date in 2022 indicates a DoFD of 2015, not 2012.

[RobertEG]

You appear to have two separate issues.

One is the continued reporting of  debt balance on an account that you consider to have been paid.

The other is the exclusion date of any reported derogs.

As for item one, they may consider the amount you paid to have not been adequate to cover the full debt.

What proof do you have, such as billing statements, that support your assertion that the debt was paid in full?

As for item two, what are the specific delinquencies and/or charge-off derogs that have been reported on the account?

Each type of derog has its own credit report exclusion provision and date, with monthly delinquencies excluded no later than 7 years from their individual dates of occurence, and a reported charge-off being excluded based on DOFD.

If they considered the prior payment to have been insufficient to place the account in a paid status, then delinquencies after 2012 could still be proper......