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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.
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.
@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.
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.
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.
@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.
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.
@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.