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Settled Citicard But Showing Balance Minus Settled Amount

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ATLOMM
Valued Member

Settled Citicard But Showing Balance Minus Settled Amount

Can anyone please give me advice on how to get this issue resolved.  My Citi card was charged off and when i called to pay they gave me a collections number.  We agreed on a settlement and I paid it, however, when I look on my MyFico Report it only shows that the account was charged off, and instead of reporting a zero balance it reports the remaining amount that I didn't pay in the settlement as my balance. Is there anything I can do to resolve this.  The other accounts I settled show a balance $0 settled for less than full amount. 

Message 1 of 3
2 REPLIES 2
Anonymous
Not applicable

Re: Settled Citicard But Showing Balance Minus Settled Amount

When did you pay the CO? Typically it takes 60 days for it to go to its final reporting status once it's been settled. They will report first the balance owed, then usually next update they change to the difference of what's left of the settlement and then the following month should update to $0. Have patience if it has been a short time. 

Message 2 of 3
Remi1
Contributor

Re: Settled Citicard But Showing Balance Minus Settled Amount

Agree with @Anonymous, it will probably just need some more time. That seems to be how it goes, where they report the leftover balance after whatever they were paid, then they fully update it to $0. I know the waiting is hard, but try to wait it out the 60 days to give it time to go through the process and update. It should be to 0 by that time. I also sometimes see the question along the lines of "if I dispute it will it make it show 0 sooner?", and it's usually advised not to as it could instead slow everything down and take longer.

Message 3 of 3
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