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Capital Bank CC Account Still Reporting C/O After Payment

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uphill_slipnslide
Valued Member

Am I Crazy??? - OpenSky Reporting Activity After Paid ChargeOff

I have posted this before and it still bothers me.  I feel that OpenSky is still reporting activity on my credit report on the months after I paid them off.  I understand it will still show as a chargeoff until it comes off the report.  That I am not disputing.  I am disputing the fact that for July and August of 2021 (1 year after paying the debt), they posted activity on the account.  With doing my rebuild process, I am watching these accounts like a hawk and anything fishy gives me cause for alarm.  Knowing that this may be keeping my score down, because of unwarranted activity from them, is not good.

 

Please tell me if I am crazy, not looking at it right or something.  Below is a capture from the Transunion annual credit report.  I don't want to start a dispute with them, but will if it means that there is inaccuracies.

 

My assumption is that after paying off the debt in August 2020, the reporting should have stopped.  There should not be entries from September 2020 to August 2021.

 

The PPL is Paid Profit & Loss.  The PRL is Profit Write Off or something like that.

 

Untitled.jpg

In Order of Acquirement:



Goal Cards:



Total Credit Limit: $22,000

Loans:



FICO 8 - 8/2021
EQ - 697; TU - 678; EX - 685
FICO 8 - 11/2021
EQ - 706; TU - 705; EX - 693

GOAL - End of 2021 - 700+ across FICO 8
Message 11 of 17
FireMedic1
Community Leader
Mega Contributor

Re: Am I Crazy??? - OpenSky Reporting Activity After Paid ChargeOff

Since the above was moved here, same responce. It will say CO with a $0 balance until fall off date 11/2024. Having them both at $0 balance it will no longer affect your aggregate (overall) util %'s any longer. Thats a good thing.


Message 12 of 17
CH-7-Mission-Accomplished
Valued Contributor

Re: Am I Crazy??? - OpenSky Reporting Activity After Paid ChargeOff


@uphill_slipnslide wrote:

I have posted this before and it still bothers me.  I feel that OpenSky is still reporting activity on my credit report on the months after I paid them off.  I understand it will still show as a chargeoff until it comes off the report.  That I am not disputing.  I am disputing the fact that for July and August of 2021 (1 year after paying the debt), they posted activity on the account.  With doing my rebuild process, I am watching these accounts like a hawk and anything fishy gives me cause for alarm.  Knowing that this may be keeping my score down, because of unwarranted activity from them, is not good.

 

Please tell me if I am crazy, not looking at it right or something.  Below is a capture from the Transunion annual credit report.  I don't want to start a dispute with them, but will if it means that there is inaccuracies.

 

My assumption is that after paying off the debt in August 2020, the reporting should have stopped.  There should not be entries from September 2020 to August 2021.

 

The PPL is Paid Profit & Loss.  The PRL is Profit Write Off or something like that.

 

Untitled.jpg


It's my understanding that when creditors keep updating your account every month after the item has been paid/settled, they are just being jerks and punishing you.    

Each month when they update, FICO sees it as a new or recent derog, and hammers your score.  

They don't have to report anything after the settled date.  

FWIW, I stared with this card and I paid it on time, never late, and closed it after two years.   They continued to report positive payment history for me for another two or three years.   At least it will help my AAoA for three years longer.   I think what's happening might just be a little bug in their reporting system.   They are not a very sophisticated operation.   I totally get your frustration and they do not have to keep updating this derog every month for seven years.   That's the whole reason to settle charge-offs, to get them to stop updating.

Message 13 of 17
uphill_slipnslide
Valued Member

Re: Am I Crazy??? - OpenSky Reporting Activity After Paid ChargeOff

I agree.  I know it will stay charged off and will continue to do so until it falls off.  BUT.....If I already settled the account, the reporting SHOULD stop at the month or next month after payment.  My big irk is that it looks and appears that they are reporting additional information a year after it was paid.  So the "recent derogatory or missed payments" category keeps getting refreshed because of the updated reporting.

 

Again, this may be all for naught.  It may appear this way, but FICO knows what to do.  I'll leave it be for now.

In Order of Acquirement:



Goal Cards:



Total Credit Limit: $22,000

Loans:



FICO 8 - 8/2021
EQ - 697; TU - 678; EX - 685
FICO 8 - 11/2021
EQ - 706; TU - 705; EX - 693

GOAL - End of 2021 - 700+ across FICO 8
Message 14 of 17
FireMedic1
Community Leader
Mega Contributor

Re: Am I Crazy??? - OpenSky Reporting Activity After Paid ChargeOff

@CH-7-Mission-Accomplished @uphill_slipnslide It will report CO each month until the 7 yrs is up. It wont say paid as agreed until the CO hits 7yrs, falls off, and the account if it stays on the report after that time frame. If you look at the report again. The last update was 08/2021. That's what hits the scores if that date is updated. That is why we say dont dispute. Comes back verified and a score hit occurres from a new date as an update. It just needs to die a slow death.


Message 15 of 17
AndySoCal
Valued Contributor

Re: Am I Crazy??? - OpenSky Reporting Activity After Paid ChargeOff

Keep in mind if you dispute this it will cause the account to re-report the results of the dispute.  In other words the date reported will move forwards in time. It is obvious from the payment grid and the date shown it was paid in 08/2020.  I would not dispute this account yes the account should not have re-reported based on the data shown but their might a data change not shown.  I prefer to leave a derog account alone.

FICO Scores XPN v8 802 V2 831 (SDFCU) TUC 803 v8 EFX 807 (10/2023)
Discover 09/90 19,000, JCPenney 10/2008 4,700 US Bank Cash+ 12,000 Citibank Custom Cash 5/2015 11,100 C State Dept. FCU 15,000 06/2023 , 02/2024 Redstone FCU Signature VISA 10,000 Banking: Ally Bank Credit Unions: Lafayette FCU Quorum FCU State Department FCU State Department FCU Pelican State CU Redstone FCU

Message 16 of 17
Phana24
Regular Contributor

Re: Capital Bank CC Account Still Reporting C/O After Payment


@uphill_slipnslide wrote:

I'm disputing the fact that I paid the charge off in full back in 8/2020 and it should have stopped reporting monthly after that.  But as can be seen in the picture, they have still been reporting since then to this month with a charge off status.  The paid in full should have marked that account as closed and the reporting stopped.

 

Maybe I am not seeing something and they have stopped reporting.  But again, straight from Transunion, they are still reporting.


When I rebuilt my credit, I had one Capital One CO that stopped reporting once paid off, but my wife had one(also Cap One) that continued to report even after payoff.  I did have to request they be eliminated after 5 yrs(about the only benefit of living in NY).  Apparently, you lost the reporting lottery, it makes no sense.

Message 17 of 17
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