Re: Late payments after charge-off
07-07-2007 06:03 AM
Yes, that would be technically true if a balance was still owing. However, if the balance is paid, then there is no balance owing and the account should read paid/closed. Status should not read derog as it makes the reader assume that the account is currently derog when in fact it could have been paid out 2-4 years prior. I have yet to figure out who places the derog status on the accounts, but I think it is the CRA's.