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2 charge offs listed per closed account

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Anonymous
Not applicable

2 charge offs listed per closed account

Long time reader, first time poster.

 

I have 4 closed accounts with NFCU that were charged off (personal loans).   I just set up a payment plan with them last week.  On my Experian report each of the 4 accounts says:

 

Navy Federal Credit Union

$.....

closed

2 charge offs

 

 

But when I expand them it just shows late payments and date of status update.  Should I dispute this? Can the same loan be charged off twice by the original creditor? Do my 4 charge offs look like 8???

 

Thank you for your time in advance 🙂

 

 

 

Edit: Still w NFCU, not delinquent 

Under closed accounts: 

https://flic.kr/p/2jvWbBD 

 

Message 1 of 4
3 REPLIES 3
Anonymous
Not applicable

Re: 2 charge offs listed per closed account

@Anonymous you should include a picture/ screenshot within your post, I have charge-off accounts and they are only listed once on my credit reports. The only time I see the name again is if they have been picked up by a collections company whereas it would show the name of the company that it is in reference to. Hope that helps at least a little bit. Smiley Happy  

Message 2 of 4
Anonymous
Not applicable

Re: 2 charge offs listed per closed account

Yeah a picture would be helpful, but you can have the charge off designation from the date of chargeoff once every month until it drops.
Message 3 of 4
RobertEG
Legendary Contributor

Re: 2 charge offs listed per closed account

While the charging of a debt to profit and loss is a one-time accounting event, the CRA reporting manual used by the big-3 CRAs permits a creditor to also use charge-off as either the current delinquency status and as the status of prior months in the payment history profile.

They thus have the option of either reporting as, for example, 150-late or 180-late, OR simply as CO.

 

That is not the reporting of multiple charge=offs.  It is the reporting of prior and current delinquency status as both being delinquent and having, at some prior time, been charged-off.

Message 4 of 4
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