topic Re: Charge off question in Rebuilding Your Credit

Charge off question

jjamm7667 — Wed, 26 May 2010 18:49:11 GMT

Hello everyone and thanks for all the help so far... I had an overpayment for the GI bill last year. I recieved the money during spring term of 2009 and was told of the overpayment during the summer. The account is showing on my credit report as being opened 08/09 closed 11/09 and 120 days late. My taxes were offset and it shows paid $0 balance 03/10.

Does this seem right?

Re: Charge off question

Anonymous — Wed, 26 May 2010 20:03:09 GMT

You know the government does not beat around the bush getting their money.

It is paid and closed, which is what matters. The closed date is before the actual payment date but has no impact on your score.

Re: Charge off question

RobertEG — Thu, 27 May 2010 02:28:38 GMT

If I get your scenario correctly, they notified you of overpayment in the spring of 2009, thus establishing your indebtness to them to repay. They set a period for due date, and you went 30. 60. and then 90 days late in satisfyng the debt. I dont see anything improper in this scenario.

I dont understand, from what you have said, how a "charge off" entered into the picture?

Re: Charge off question

jjamm7667 — Thu, 27 May 2010 13:16:07 GMT

Thanks guys for helping.. I did'nt know a charge off could come so quickly. I called to see if it could be removed and the guy on the phone said to request it in writing but so far I have not gotten a response to any of my GW letters.

Re: Charge off question

jjamm7667 — Tue, 01 Jun 2010 23:26:46 GMT

Hello Guys... I have some new info I need help with. I was browsing around the VA website today and decided to see exactly when I recieved my GI Bill payment. I called the 1 800 and found that I was paid on June 26th, 2009 (only payment received). The account was reported to the CRA's as 120+ late and a Charge Off in August 2009 (about 6 weeks later).

How is this possible?

Re: Charge off question

Anonymous — Wed, 02 Jun 2010 15:04:28 GMT

Its not. I would be contacting them to have them fix it.

Re: Charge off question

jjamm7667 — Thu, 03 Jun 2010 16:36:06 GMT

This is from my TU report. ... Should I dispute?

Re: Charge off question

Anonymous — Thu, 03 Jun 2010 17:19:28 GMT

I would not dispute it. Call the VA and find out what is going on. Ask them to correct it or remove it.

Re: Charge off question

jjamm7667 — Sat, 26 Jun 2010 03:34:42 GMT

Hello.... I just got this in the mail today... Thanks for the advice again guys...

I got this because of this site ... I can't say thanks enough

Re: Charge off question

llecs — Sat, 26 Jun 2010 03:46:56 GMT

Congrats!

Re: Charge off question

Anonymous — Sat, 26 Jun 2010 17:28:28 GMT

Good job!

Re: Charge off question

jjamm7667 — Tue, 20 Jul 2010 14:03:44 GMT

And my score went up 33 points!!!!

Re: Charge off question

britishbooklady — Sun, 05 Dec 2010 10:10:35 GMT

@jjamm7667 wrote:
Hello.... I just got this in the mail today... Thanks for the advice again guys...

I got this because of this site ... I can't say thanks enough

OMG...this is exactly what I have been looking for!! First of all, congrats to you, jjamm7667...and thank you so much for posting this!

I have this very old TL from them (VA) that is only reporting on EQ...for a GIBILL overpayment that was paid off when my federal student loan was offset a couple of years ago. I have tried several times to call them and have never been able to get through...which has been very frustrating. The problem is that the TL shouldn't even be reporting at all because it's from 2002!! I even have an old EX CR that shows the correct dates on it. For some crazy reason, they entered the dates wrong on EQ as 2005!

Whew...ok, I'm done. I just got so excited when I found this (trust me, doing a search for "VA" is very tedious...especially if you aren't looking for info on a VA loan). So, I thought I'd bump this back up to the top, just in case anyone else is looking for this same information.

Cheers!

Re: Charge off question

Anonymous — Mon, 12 Aug 2013 16:05:54 GMT

Jjamm,

I'm in the same boat as you reference the GI Bill overpayment. How did you get this resolve?

Re: Charge off question

DaBears — Mon, 12 Aug 2013 16:22:38 GMT

Hi elvys and welcome to the forms!!!! The OP has not signed on since 02/2012. I suggest starting a new thread so your post can be noticed more quickly.

Community Leader,

DaBears

Re: Charge off question

Anonymous — Mon, 12 Aug 2013 16:43:28 GMT

Thank you for the info