OLLO Card Account Closure - Master Thread

[Remedios]

Back to the topic please. 

Class action lawsuit isn't it. Fairly sure there has to be myClassAction forum somewhere, since that would be appropriate place for it. 

[CreditBruce]

Just thought I'd let everyone know my credit report was fixed and the account is showing open/never late again. Lets hope it never happens again. Ill keep the card open.

[AllZero]

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@CreditBruce wrote:

Just thought I'd let everyone know my credit report was fixed and the account is showing open/never late again. Lets hope it never happens again. Ill keep the card open.

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That's great news. Thank you for sharing the update. Hopefully, they will fix other members accounts relatively quickly.

[M_Smart007]

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@CreditBruce wrote:

Just thought I'd let everyone know my credit report was fixed and the account is showing open/never late again. Lets hope it never happens again. Ill keep the card open.

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Congrats on the resolution

[apache31405]

@apache31405  trying to offer a glimmer of hope here-- it doesn't have to take 30 days to correct this.  A month or so ago, USAA accidently mass reported accounts as closed.  Granted, no negative notations just closure, but they resolved and re-reported in about 3 or 4 days.  Hopefully Ollo gets their stuff together just as quickly. 

    Just wanted to report back sir. Thank you for the glimmer of hope. Every thing is back to normal this morning.   We can now add this to the list of positive outcomes of credit card company snafus. I don't believe it. 

Hope everyone's account is well.

[mich800]

Add me to the list.  I just got a notice from Experian that my account has been flagged for charge off.  It is not showing on my credit report as such but that must have recieved someting to trigger this alert.

[Anonymous]

Congrats to everyone that has gotten their accounts squared away. I got notification this morning from Experian that my account was flagged as an uncollectible bad debt. My score did not drop, and the account appears to still be open. I'm hoping this doesn't adversely impact my scores and that they correct this error. It would really suck if it sends things plummeting downward by no fault of my own.

[Anonymous]

FWIW as someone else reported my Experian report was fixed today. Only 1 day of score drop now no evidence anything had happened at all on report

[Anonymous]

This has been an unforgivable mistake from Ollo. Even if they manage to fix everyone's reports. 

[Anonymous]

The concern that many of us have is that we are aware that the consequencies of a negative report by either a credit card issuer or a credit reporting agency can cause substantial damage.  We all also know how difficult it is to have negative information removed from an account, and so we are quite naturally alarmed when that negative information is blatantly false.  To Ollo's minor credit, they did send out information emails about the situation, and eventually corrected it, but at that point, the error was self-contained at Ollo.  Now that it has been reported to Experian, there is skepticism by many (and certainly by me), that the error will be quickly resolved by Experian.  When you compound this apprehension for whether the error will be corrected with a general distrust of card companie and credit agencies to begin with, many of us here are understandbly not willing to just sit back and wait for them to take action. Perhaps all will be resolved soon, but too many of us just plain don't trust the business.