question on charge off account

[16paws]

Morning All...I'll try and explain this as best I can without causing a headache   

We have a GE account, which was settled back in March 2008.  The balance of that was sold to LVNV.  A few weeks ago, I disputed the LVNV as the settlement letter we rcvd back in 2008 from GE stated paid as agreed in full, no futher obligation on this matter.  I also disputed the lates that GE had on the account (which by the way is listed as Bad debt/charge off)  from April 2008 to December 2008 as there were no lates as the account was "paid in full".    LVNV was deleted from the credit report and the results for the other were that GE sold and/or transferred the account no further activity.  Score increased 8 points. yay!  Well, the NEXT day the EQ score dropped 22 points down to 595!  Reason?  The status on the GE account is now reading Repossession.   I called Equifax directly and asked them how is it that their dispute said no change and now states repossession (and mind you this is no car - it's a credit card).  I told the gentleman at EQ that I had thought possibly it was a keying error, as K = Repossession and L =  Charge off.  I don't think he was understanding my point.  At anyrate -  whether it was the CRA or GE that made the error - will we ever get back that 22 points when they change it back to the way it was? 

My second question is that if we don't see a change - will having the entire TL deleted help the score?  We settled for $507 less then the balance in 2008.  I have read on these boards about Paying for delete.  Would that possibly help, or harm us?   Any input would be so appreciated..

[16paws]

I forgot to mention that when I spoke with EQ on this - we created another dispute on this SAME thing.. I expressed to the EQ gentleman that I didn't want this to be noted as frivilous, but it is an error on someone's part...

[RobertEG]

If you have a valid settlement agrreement with GE, you paid the funds in fullfillment of that contract, and they cashed you funds, the legal game is over.

You have no more debt.  Thus, any further collection activity on a fulflled debt was clearly in error.

If they are now reporting a repo, and you had no propertty reposseed, then that was apparently in error.  Dont call them again. 

I would file a direct dispute with GE under the provisions of FCRA 623(a)(8) regarding the status of a paid debt on a CC as being reported as a piror repossession.

That requries a response from then with 30-days.

PFD is still an option.  To offer them the remainder of the difference between what you paid and what they asserted to be full payment may entice them to accept, under conditions of CR deletion.  I dont see how it could harm  you, because you now have legal proof of fulfilleent of debt to them, so no legal action could be taken.

In separate letters, I would advise you to dispute their current credit reporting under FCRA 623(a)(8), and also ask for deletion of their prior credit reporting under offer to pay the remaineder of the debt.

[16paws]

Thank you so much for the response..truly, I appreciate it, as I have posted this question before with no response!   I will draft a letter (I'm assuming I should send it CRRR?)  Additionally, the language for the FCRA can be found on here somewhere? (Or I'm sure somewhere on the internet)   - or should I just quote that particular part of the FCRA rather then verbatim of the actual language?  Now, in your opinion, what SHOULD the status say, and should they legally by FCRA remove those lates from April 2008-December 2008...because what's odd, is that from Jan 09-present, it lists "Ok" for the monthly fields...(go figure..although are those hurting anyway??)  You stated that they have 30 days to respond.  What should happen if they fail to respond in 30 days?  I