Did I reset my charge off?

[Anonymous]

I have spent the past 6 months preparing to apply for a mortgage loan. On my credit report, I had a utility bill that was charged off in November 2015. I decided to pay the charge off in full in February of this year in an attempt to boost my credit. A week later, I was alerted that my TransUnion and Equifax scores went up. However, my Experian score plummeted 38 points. Upon investigating and comparing old credit reports to my newest one, I found that my charge off history was deleted. It now looks like the account was first reported this month instead of in November 2015. I believe this is why my credit dropped so much. I filed a dispute and provided them with copies of my old credit report showing my previous account history, along with other documentation. I'm still waiting to get the results of my dispute.

I'm just confused why this happened. Did I reset my charge off account by paying it? Do you think my dispute will correct my account to show the old history and bring my score back up 38 points?

[Brian_Earl_Spilner]

You took a score hit because the derogatory updated, which is normal, even when it goes to zero. Scores improve afterwards because the derogatory no longer updates and drags the score down. Can't say what happened on the other 2 without more info.

[Dmessina666]

Sounds like the other two CB's might have dropped the account all together. 

Sounds like OP def reignited that fire on Experian tho. Try and stay positive on that dispute, but my expectations wouldn't be high. I woke up Fingerhut from a 2015 CO and Equifax now tells me my most recent late payment/derogatory is 3 months. 

The other two morons, I mean bureaus, show my real on-time payment history of 49 months. 

[designated_knitter]

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@Dmessina666 wrote:

Sounds like the other two CB's might have dropped the account all together. 

Sounds like OP def reignited that fire on Experian tho. Try and stay positive on that dispute, but my expectations wouldn't be high. I woke up Fingerhut from a 2015 CO and Equifax now tells me my most recent late payment/derogatory is 3 months. 

The other two morons, I mean bureaus, show my real on-time payment history of 49 months. 

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I had a similar experience with Synchrony Care Credit.  I've learned "Don't Poke The Bear!"  It all started because I originally wanted to pay the CO and synchrony literally would not take my money!  So now I'm stuck dealing with it until it falls off in 2 years.

My experian score is about 30 points lower than my other 2.  REALLY annoying!

[RobertEG]

If the account previously reporting a charge-off continues to be delinquent, then each time the credtior updates the account, the period since initial delinquency is extended. 

When  the debt was ultimately paid, the payment mandated the creditor make updated reporting to show that, as of the date of reporting, the new current status was changed from delinqeunt to paid. 

That update thereafter prevents further increase in the total period of delinquency,but also extends and finalizes the total period as being the time between DOFD and date paid.

It is likely that the credtior had not been making any regular monthly updates for awhile, and thus the final total period of delinquency was updated substantially, resulting in a net score drop.  That is quite common.