Any updates in removing updating debt

[Fran27]

I paid the taxes on 1099-C several years ago. I am tired of seeing the balance being updated as late on my credit report each month. Has any laws been changed regarding this? This company has also been sold. 

[tnhomestead]

I assume your talking about a charge off still on your reports? Only choices are pay it, try for a pay for delete or wait the 7 years. Unlikely they would go for a goodwill letter with you still owing them. But as long as you owe them they can update it for 7 years.

[Fran27]

I paid the taxes on the debt 1099-C years ago. The company is no longer in business. The seven years are almost up. I guess I will wait another 4 months. 

[gdale6]

If they are still saying a balance due is owed then just dispute it as being settled thru 1099-c. If its at 0 balance send a letter to the CRA(s) and inform them its at 0 balance and per their own rules its to stop updating.

[Fran27]

Thank You! I really appreciate your advice.