@OmarGB9 wrote:
Yes they can keep reporting CO every month if they so choose. That doesn't mean you're accumulating multiple charge offs on the same account, it just means it remains charged off and unpaid. It's still only one charge off. However, if they're garnishing your wages, then they should also be updating the balance every month as well. If they're not, then that needs to be corrected. If you're looking into a mortgage soon, then you'll most likely have to take care of it anyway before they approve you.
+1 to the above.
Both me and my SO have accounts with as many CO as there are in a full reporting period for derogs (so upwards of 80+). It is absolutely possible and legit. If it a CO that hasnt been sold off and you haven't taken care of it, they can report CO until it naturally ages off.
To get a mortgage you are going to want to deal with it. I know you are being garnished,but that does not vhange it from being a CO to not. Not even when paid off. It will always be a CO. Once you are doing being garnished and your obligation is repaid, it will stop updating as CO every month and become "paid charge off".
My experience with being garnished is it can take quite a long time for your garnishment payments to be credited. I was garnished another couple months after I had the balance paid because they continue garnishing until the funds are accounted for and the excess will very slowly be returned to you. It was awful and I kever want to go thru that again. So it may be slow to update the payments and if it has been many months since you started being garnished, then the balance should have already been reflecting reduction in balance. Although, I cannot recall if they uodated the reduction in balance along the way when I was being garnished. It is possible it took until the money was accounted for at the conclusion of repaying via garnishment for it to finally be reflected on my CRs because the money goes to a 3rd party first.
