Charge Off Removal Update

[Anonymous]

I currently had a charge-off for just $16 with my closed Target Store Card from 2016. I am in the process of trying to secure a mortgage and my FICO 2 is 658. I need a 660 to be approved. Just two points. I was able to call Target last week and they agreed to reverse and remove the charge off and update all the negative months of reporting to current back to 2016. This card has been reporting negative every month for years and I am hoping that this update will give me the points that I need. However, I need the update to happen sooner as I already have a contract on a house. Target is stating that they won't update the CBs until 7/19. Should I file a dispute to speed up the process or do you all recommend I just wait? Do you think that will piss them off if I file a dispute to have this updated quicker? 

Charge-off of $16 reported in November 2016 and has been reported every month up to July 2021. Status on account states Derrogatory Charge-off. Account was never sent to collections because balance is less then $25. I have no other collections or charge-offs. Need 2 points!!

[Joobie]

---

@Anonymous wrote:

I currently had a charge-off for just $16 with my closed Target Store Card from 2016. I am in the process of trying to secure a mortgage and my FICO 2 is 658. I need a 660 to be approved. Just two points. I was able to call Target last week and they agreed to reverse and remove the charge off and update all the negative months of reporting to current back to 2016. This card has been reporting negative every month for years and I am hoping that this update will give me the points that I need. However, I need the update to happen sooner as I already have a contract on a house. Target is stating that they won't update the CBs until 7/19. Should I file a dispute to speed up the process or do you all recommend I just wait? Do you think that will piss them off if I file a dispute to have this updated quicker? 

Charge-off of $16 reported in November 2016 and has been reported every month up to July 2021. Status on account states Derrogatory Charge-off. Account was never sent to collections because balance is less then $25. I have no other collections or charge-offs. Need 2 points!!

---

Do you mean 8/19? Also, disputing could take up to 30 days for the bureaus to complete so I would just wait. You don't want any new remarks on your accounts and that's what disputing will do.

---

[Anonymous]

Yes, I meant 8/19. I think I will just wait. Thank you!

[FireMedic1]

Lay low. You dont want an update of a dispute and it would be more than 2 points short after a update then. Silence is golden. Congrats on the home.

[Anonymous]

Disputes can take up to 30 days, you're better off waiting. I currently have a dispute with a charge-off I had with Discover 2 years ago and it's already been 2 weeks with no response. Experian is esitmating 8/19 (30 days after submitted) for the dispute to finish for me. If target says it'll be complete by the 19th, I'd wait.

[FireMedic1]

---

@Anonymous wrote:

Disputes can take up to 30 days, you're better off waiting. I currently have a dispute with a charge-off I had with Discover 2 years ago and it's already been 2 weeks with no response. Experian is esitmating 8/19 (30 days after submitted) for the dispute to finish for me. If target says it'll be complete by the 19th, I'd wait.

---

Not to hijack the thread @Anonymous . Why are you disputing a CO? Disputing accurate info will come back updated and drop your scores. If your trying to get the CO removed. It really isnt going to go anywhere with Discover. Dispute inaccurate info yes. Accurate not the best thing to do. Just a heads up.

[Anonymous]

@FireMedic1 I'm disputing due to incorrect information. My credit file reported an extra 180 late the month that the account was actually CO, N/A for most of my charge off period, and it reported CO an extra cycle after I had PIF. Optimally, I'd like the tradeline either removed or all the payment history deleted. But even if that doesn't happen, the information is still not correct and it needs to be resolved.

[Anonymous]

You can try to get a written letter from target and then have your lender do a rapid rescore. Depends on what the letter ultimately says, if they are willing to write one. Check with the lender to make sure they can do rapids. 

[Phana24]

---

@Anonymous wrote:

@FireMedic1 I'm disputing due to incorrect information. My credit file reported an extra 180 late the month that the account was actually CO, N/A for most of my charge off period, and it reported CO an extra cycle after I had PIF. Optimally, I'd like the tradeline either removed or all the payment history deleted. But even if that doesn't happen, the information is still not correct and it needs to be resolved.

---

The minutia of your negative report is irrelevant.  Once you get it removed, all will be gone.  Target is willing to work with you.  The dispute will involve the CRA and it simply be Target's computer speaking to the CRA's computer, and that will take longer than simply letting what you've negotiated play out.  @Anonymous suggestion is the only option I know of that might work.  Disputing will not help you in the time frame necessary and just might make it worse.  Take it from someone who more than once ignored advice, only to live to regret it.  Good luck.

[Anonymous]

Thank you. I have already decided I am going to wait. I actually just got my middle score to where I needed it to be already for mortgage app to and this removal will be icing on the cake. Just need to wait 3 more weeks and let it play out. Thanks for all the advice!