topic Re: Charge off but balance due keeps going up in Rebuilding Your Credit

Charge off but balance due keeps going up

Anonymous — Mon, 22 Feb 2010 00:23:24 GMT

I'm helping my wife repair her credit, and we're confused about an account on her report. It's from World Finance, one of those payday loan companies. The Dofd was 08/2004, and the balance is $354. On her EX cr from 2/2009 in the status it says: Account charged off/past due. $354 written off, $880 past due as of Jan 2009.

Today on her EQ and EX cr it says the same thing, but it says $1,005 past due. So, when an account is charged off, the co can continue to charge more fees?

Also, she sent a DV to Afni last month, received no response, but on her cr today it says the Afni account disputed by consumer, meets requirements of th FCRA. Just to make sure, she should send the green card and proof that Afni updated her report without validating the debt to the cra. Is that correct?

Re: Charge off but balance due keeps going up

elaine829 — Mon, 22 Feb 2010 02:05:37 GMT

I had a capital one charge off that continue to charge interest and capital one would report every month and my balance would go up. The capital one was charged off in 03 and by the time it was deleted off credit report this month the balance got up to 3100. When the account was charge off for 500 dollars. I also got a ca ASSET ACCEPTANCE on my report which they continue to keep on adding interest, I have dv them they have not responded and I have written them several times and they keep on verifying with cras so I guess I'm going have to wait till 2011. That's when it drops off. This is not even my account but it seems like you can't do anything about it. I sent the green stickers to the cras and only equifax deleted. transunion and experian still have it on my report so i hope you have better luck than i did.

Message Edited by elaine829 on 02-21-2010 06:05 PM

Re: Charge off but balance due keeps going up

Anonymous — Mon, 22 Feb 2010 02:26:50 GMT

As far as I know charged off accounts should not still show a balance. You might want to send a letter to World Finance making them awar of this. I would say despute with the CRA but it might just come back as verified. so If i were you i would just send the OC a letter to correct that or delete for inaccurate information,.

Re: Charge off but balance due keeps going up

Anonymous — Mon, 22 Feb 2010 03:38:35 GMT

Really.....charge offs should not show a balance? I have a couple charge offs that show a balance. One shows past due and balance. Should I write them?

Re: Charge off but balance due keeps going up

Anonymous — Mon, 22 Feb 2010 04:20:38 GMT

The only time a CO won't show a balance with the OC is if they sold the account. It would then show a 0 balance and the CA collecting would show the amount of the CO.

If the CO was only assigned to a CA, both of them can show a balance.

Re: Charge off but balance due keeps going up

Anonymous — Mon, 22 Feb 2010 04:42:21 GMT

+1 If the charge off hasn't been paid off, interest and fees can still be added, and they are allowed to update the new balance with the CRA's. As far as the no response to DV goes, send this letter to the CRA's along with copies of your DV letter to the creditor and the green card. Good luck!

Your nameAddressCity,StateZzip

CRA NameAddressCity,State Zip
Date RE: Account #_________/Original Creditor’s Name Dear CRA:: This is a request for deletion of a disputed item. I have attempted to have this alleged debt verified by the alleged creditor and collection agency to no avail. I am respectfully requesting that “collection agency” do what is legally mandated by the FCRA and FDCPA, and delete the account listing. Name of Creditor/collection agency, Account #_________ On XX XX 09, "Collection agency" received a demand for validation from me. Attached is a copy of that letter along with the U.S. Post Office return receipt showing they did indeed receive the request. As of today, XX XX,09 they have failed to provide any proof or respond in any way. On XX XX,09, I sent a second letter. Again,I have received no response. Attached is a copy of the letter and U.S.post office showing they did receive that letter. The FDCPA states they Must cease collection activity until they produce verification of the alleged debt if so requested. As per the FTC, this includes reporting to the credit bureaus, which they obviously have done illegally. It is quite evident that no such proof of this alleged debt exists or they would have provided it in the previous XX months since it was requested. As per the FCRA, if no proof of debt exists, it may not be reported to the credit bureaus.The FCRA also states that the credit reporting agencies must receive written proof from the debtor. Therefore, I am not asking for an investigation to be done, I am requesting that the entry be deleted in its entirety as there is no proof of its existence as evidenced by my attached documented proof. Sincerely,

Re: Charge off but balance due keeps going up

RobertEG — Mon, 22 Feb 2010 09:01:22 GMT

Sending a letter to a CRA that alleges failure to respond to a DV request under FDCPA 809(b) as a basis for dispute is a total non-starter.

They will ignore it. FDCPA 809(b) sets no period whatsoever for response to a DV letter. It is a statute directed at collection activities after a DV letter. The CRAs dont give one whit about whether a CA has or has not responded to a DV letter, and whether the CA is now entitiled to pursue further, active collection activities. Sure, if a CA makes an illegal post or any other actiive collection activity after you DV, then you can dispute that. But failure to respond to a DV is not, in the first instance, any violation of the FCRA
They are concerned with compliance with the FCRA.

Message Edited by RobertEG on 02-22-2010 01:01 AM

Re: Charge off but balance due keeps going up

Anonymous — Mon, 22 Feb 2010 18:54:50 GMT

Although there isn't a time period during which they must respond to a DV letter, they do have to cease any collection activities until they provide verification, and reporting to the CRA's is considered collection activity.

It can't hurt, anyway, to send the dispute letter to the CRA's. Crossing my fingers for you that they delete!