Charge Off

[TryingVeryHard]

Can an OC report "collection/charge-off" month after month, or should they be able to report it only ONCE which is good for 7 yrs?

How is this charge-off affecting my credit score. This Credit card company sold my account to a collector, which agreed to be paid in exchange for deleted.

Thanks

[LuvsRetro]

That is a good question to get an answer to. 

Cap 1 has been reporting multiple charge offs for years to nearly everyone that defaults.  Maybe someone should write a letter for clarification on that subject to the FTC.  I think that's the department.  

Maybe Barry has the info. 

Check your myFico page:  How a lender looks at you.  Look for info that says how old the chargeoff is/happened. 

Message Edited by teamfico on 12-08-2007 02:06 PM

[Anonymous]

Hi Trying,

Is the ca for this Cap One Chargeoff  Portfolio Recovery Associates?

[LuvsRetro]

Trying:  Sorry, it is in the "Understanding Your Score Section!!!

Message Edited by teamfico on 12-08-2007 02:09 PM