OC Charge off reporting question

[Anonymous]

I have a question about a charge off that has been reported on my credit report for months. The OC still shows the balance, my FICO scores have already taken a hit for this. I was just notified this morning by Truecredit that Experian shows a new derogatory account, and it is this same dell account. What will this do to my FICO score? It has always been on the report, it is not new.

Thanks for your help!

[Anonymous]

Is the new account that EX is showing being reported by a CA?

If so, and this is your only collection, I've seen members say they've lost up to 100 points having a collection report.

If it isn't your only one, the impact may not be as bad, but will likely still lower your score.

[Anonymous]

The thing is, it is not a new account. It is the exact same account, being reported by the exact same OC, not a CA. It is not different, just updated.

[Anonymous]

So, the account just updated?

Does it usually update monthly? Did anything change?

I am moving this to General Credit Issues, as those who regularly visit there know more about scoring and how this situation may affect scoring.(something I am not good at)

[Anonymous]

Thanks for moving this!

This is always on my report, reporting 120 days late, it hasn't updated the 120 days late since July. This is just an update to the same report. Will it gouge my fico score again?

[Anonymous]

I'm wrong, it reports CO every month, December 07 to June 08. Truecredit just alterted me that they have just updated it.

[Anonymous]

The OC can report it as a CO every month.  It should not hurt your scores.  You took the hit for that with the initial CO.

I had an account that was CO 7 years ago.  After the initial CO it showed paid as agreed every month for the next 6 1/2 years.  When I started repairing my credit, they started the COs every month.  My score never changed due to this.  It has since fallen off my report.

[Anonymous]

Thank You so much! I was in panic mode this morning because my loan officer just did a rapid rescore last week and I am waiting for her to repull my reports Monday I hope. When I got the alert that they refreshed the report I was worried.