6.5 year old charge off reported as recent late payment

[jgbkabkab]

I have a charge off from SCE&G that has been reporting CO every month since 10/2013. Last month I got a notification of a score change and my EQ dropped 26 points for a “recent missed payment your most recent missed payment happened 0 months.” TU and EX were unchanged and show most recent late payments as 4 years 8 months and 3 years 5 months, respectively. I haven’t had a true late payment since 4/2016 so I’m assuming that the SCE&G account is the culprit. I scoured my three reports and see no difference in them reporting to either bureau. Any idea why this may have happened? 

[Anonymous]

Same situation here. My scores were high 500s/low 600s until I paid off a CO (I settled for 40%) and they stop reporting monthly. I’m now in the 700s. You can wait and see once the CRA remove it as obsolete or try and dispute as obsolete since it’s so close to falling off and some CRAs will do early exclusions. Some other members can help with the specifics on that.

[Anonymous]

OP is still a ways out for EE. It’s available on this schedule:

TU - 6 months early
EX - 3 months early
EQ - 30 days early, but don’t do it. The likelihood that they screw it up is through the roof. Just wait the month for it to age away naturally.

[RobertEG]

If the debt remained delinquent, the updated reporting of the current status to show CO is an accurate current status.

Additionally, the payment history profile could be updated to show a delinquency for each prior month that the debt remained unpaid.

After a debt has been charged-off, a creditor can choose to report a delinquency status either as CO or as, for example, 180+ late.

Either is an acceptable delinquency status under the CRA credit reporting manual, and represents a major monthly delinquency status.

The updated reporting of CO status extends the total period of the delinquency from date of first delinqency up to the date of the update, and thus has a negative scoring impact.  That is proper and common.

[jgbkabkab]

Right, and they reported CO (charged off) every month since 2013 that would ding my score about 2-4 points monthly depending on the bureau after it was reported. The issue came last month when it took a 26 point hit and reset my most recent delinquency to 0 months ago from 3 years and 2 months ago.

I think I see the problem from another post. I disputed this account with TU and when they updated the account, EQ somehow reset the delinquency date for some odd reason. It also updated with TU and EX but the dates of the most recent delinquency remained the same on those reports.

[jgbkabkab]

Just an update...I disputed this item and it was updated and Equifax added my 26 points back.

Just because an account is charged off doesn’t mean that it should report as a recent late payment just because it has been disputed unless it’s truly a late payment.

[FireMedic1]

Congrats!!!!!!!!!