Question about Charge-Offs

[nativenyer]

I have a charge off with Sychrony Bank for a Rooms to Go account.  The account was sent to collections, CACH LLC who eventually handed it over to Financial Recovery Services, which is under Cach's umbrella.  Anyway, the account was paid off and shows a zero balance.

The charge off and the collection are both reporting on my credit report.  I thought I might have read somewhere that if the charge off is deleted then the collection agency should also delete.  Is this true or would I have request deletion from both parties?

Thanks!

[Anonymous]

NOt as far as I know. Charge offs and collections have to be GW separately. Has Sinchrony Bank agreed to PFD? Or did you pay it with the CA, My Bf has the same issue but it used to be under GE (Charge off) and Cach LLC (CA). Cach LLC agreed to PFD but as soon as it updates we will GW GE CAP. DOes this make sense?

[nativenyer]

Yes, it was GE initially and CACH had it.  I paid it in full to Financial Recovery Services, which is the CA.  Now, I'm trying to send GW letters out to both companies.

[Anonymous]

Time to prepare that deep GW letter that touches the heart of the CEO hehe, jk. Hopefully it turns out good. That's what sucks about a Charge off, you have 2 Companies to agree to delete. I have seen numerous success of GW to delete so you are on the right track.

[gdale6]

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@nativenyer wrote:

I have a charge off with Sychrony Bank for a Rooms to Go account.  The account was sent to collections, CACH LLC who eventually handed it over to Financial Recovery Services, which is under Cach's umbrella.  Anyway, the account was paid off and shows a zero balance.

The charge off and the collection are both reporting on my credit report.  I thought I might have read somewhere that if the charge off is deleted then the collection agency should also delete.  Is this true or would I have request deletion from both parties?

Thanks!

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Both have to delete when the max CRTP has been reached. GW letters to each one is the way to go to get them removed completely, if they wont start asking for early exclusion 6 months out for TU and 3 months EQ EX. Good luck

[RobertEG]

Deletion of the charge-off is unrelated to the collection, and would not require deletion of the collection.

Taking of the CO is an internal accounting measure that simply moves the debt from a receivable asset over to a non-receivable bad debt, reducing their tax obligation.

It in no way effects the continued ability to collect on the full debt, including use of a debt collector.

The debt collector is reporting that they were assigned collection authority.  That fact remains accurate regardless of whether the debt is paid or a charge-off was taken by the creditor.

You would separately request GW from each party for deletion of their own reporting.

[nativenyer]

Thanks for the help everyone!!

[Anonymous]

I have some that would be ready for early exclusion per those windows. Should I just search for early exclusion in the forums?