Brammy, if this were only true: "It can no longer be updated monthly, keeping its ugly head in your credit report." I've been battling a particular bank for years regarding a paid charge off. They continue to update and everytime they do, I lose, and nevermind that this was a 10 year home improvement loan taken out in 1987! When our son was born (the disabled child, in 1997) our finances suffered, as I couldn't return to work, and thusly, we fell behind in everything. There was a balance of just under $900 left, of $10,000 on the loan. In 2003, and just to do the right thing, I paid it off, in full, which reset the clock, I suppose, because the bank has been updating/reporting, at will, every since, and state they can continue to do so for the next 3 years. Most recently (just last month and prior to the two collections regarding Medicaid) the information they reported indicated that I had made recent, on time payments, for the past 11 months and then was charged off at $10,000, not the $892. I'm still waiting to recover from that, and live in fear of the next time they update/report their bogus "new" information on a 20 year old debt that reads, on my report, "Bad debt. Charge off. Balance 0" with no DOFD or N/A in its place. I pray Equifax is patient with me, as every time the bank reports/updates, I dispute. What else can you do? I guess the answer to that is, continue to do the right thing regardless of the fact that in real life, you may not see a reward for your efforts, but what price can one put on a clear conscience, huh?
me
I think I've addressed this issue before, but any insight into this would be greatly appreciated.