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06-03-2009 05:38 PM - edited 06-03-2009 05:42 PM
I have an old Bank of America account listed on my CR with a $6500 balance, shown as a charge off/collection.
Status as of [?] Mar, 2006 Date opened [?] Apr, 2001 Date of last activity [?] Jan, 2005
On my other CR it has a zero balance. If I dispute with the CRA that the balance should indicate a 0 balance, do I have anything to gain? do I risk a point drop?
ALSO, on EQ, i have several accounts with a zero balance, but it indicaites a status of 120 past due. Will disputing help? How can a zero balance be past due?
06-03-2009 05:50 PM
Disputing can cause score changes. Sometimes it is an increase, sometimes a decrease. Really depends. The change can occur during the dispute and then another change once the dispute is over.
Never dispute anything that is accurate.
06-03-2009 05:54 PM
06-03-2009 05:55 PM
Is it the current status that is showing 120 past due? If so, that should be changed to reflect paid/paying as agreed.
06-03-2009 06:28 PM - edited 06-03-2009 06:30 PM
Yes, it is a legit status. When the OC did a CO or referred to a CA, the account was closed, with debt due.
Their account reporting in your CR still shows the debt due when charged off.
A CO is only an internal accounting writeoff by the OC.
That does not erase the debt, just the forum for collection.
Was the $6500 debt with the OC ever paid? If not, eitther the OC, their internal collection department, or the CA can report and collect.
06-03-2009 06:45 PM
06-03-2009 09:06 PM
yes, its the current status, but its a charged off account, so its isnt paid/paying as agreed. Is that a legit status?
If it is a paid charge off, current status should be "paid after charge off" or something like that.
Is the account factoring into your util? You can tell by looking at reports from myFICO. If it has been a long time since it was reported, it may not be anymore.