09-27-2013 08:16 PM
Welcome to the forums!
I'd suggest reading the following:
Credit Scoring 101 - great for knowing what is in your credit score and to see how your score is impacted.
What Steps Do I Take - great for learning the repair process.
and Example letters - PFDs, GWs, DVs, etc.
Send a GW letter.
09-27-2013 08:18 PM
Ugh! I did the same thing with Citi...settled on a reduced amount and they promised to change the status from "Charge Off" to "Satisfied."
That never happened. Then, about a year later, the whole debt was off all three CRAs. Weird.
Good luck with them. They were tough,
09-28-2013 02:59 AM - edited 09-28-2013 03:01 AM
Prior reporting of a charge-off is their reporting of a business decision they made at that time.
The ultimate payment or non-payment of the debt does not negate their having taken that action, or its accuracy.
Thus, the charge-off can remain after the debt is satisified.
Changing the current status to paid is required, and updates the balance of debt now due, not the charge-off itslef. You dont "pay a charge-off," you pay the debt that happened to have been charged-off.
The proper route would be to ask for their good-will deletion.
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