Regular Contributor
Posts: 244
Registered: ‎04-16-2007
Re: Late payments after charge-off
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.