topic Paid AMEX Charge Off in Rebuilding Your Credit

Paid AMEX Charge Off

Anonymous — Mon, 05 Jan 2009 20:57:56 GMT

I am a newbie any help will be appreciated.

I had an AMEX card for 10 yrs. went 120 days late due to medical problems paid in full directly to them

reporting as a charge off anything i can do?

Re: Paid AMEX Charge Off

Anonymous — Mon, 05 Jan 2009 23:53:17 GMT

Most likely AMEX will ask you to re-apply. Before they used to be very forgiving and offered the optima for rehab.

Re: Paid AMEX Charge Off

Anonymous — Tue, 06 Jan 2009 17:20:15 GMT

You can send a GW letter.

Re: Paid AMEX Charge Off

Anonymous — Tue, 06 Jan 2009 17:23:36 GMT

I don't understand. If he paid it in full, why are they reporting it as a charge off? Doesn't that mean that they DIDN'T get paid?

Re: Paid AMEX Charge Off

Anonymous — Tue, 06 Jan 2009 17:45:38 GMT

It should say something like "paid/chargeoff" or "payment after chargeoff" or "paid/was charge off".

Even if paid, it doesn't mean it wasn't a CO. CO just means it was so late that they decided it was uncollectable and wrote it off on their taxes, now that it has been paid, they have to report it back on their taxes.

CO is really a term used for accounting purposes.