Charge-Off vs Paid Charge Off

[Anonymous]

I had a Charge-Off account that was paid, and it has been reported as Paid-Charge-Off. Now out of nowhere they reported it as just Charge-Off. I called them and they claim that PAID-CHARGE-OFF  is same thing as CHARGE-OFF with zero balance. Is it? Somehow I don't think so.

[BungalowMo]

Yeah....as long as the balance says $0, you're good.

But....at least now you can start the GW process!    That is when a paid CO is better than an unpaid!  Who's reporting?  Maybe we know if they're GW friendly! 

[Anonymous]

Interestingly, this change was prompted by my GW letter. Where they have read that this was what I was requesting - beats me. And what's sad is, I paid the account 6 days after the CO was placed

It's Mazda American Credit.

[BungalowMo]

Boo....seems this is a recent baddie.  Maybe you can search for a high level exec name...then email them.  I tried looking & wasn't having much luck.

Was this loan backed by a certain bank, or simply through Mazda?

[Anonymous]

It's actually from Dec 2006, so it's not too recent. It was directly from Mazda. I am going to try more GW letters and look for some of the higher-ups.