Charge off question

[jjamm7667]

Hello everyone and thanks for all the help so far... I had an overpayment for the GI bill last year. I recieved the money during spring term of 2009 and was told of the overpayment during the summer. The account is showing on my credit report as being opened 08/09 closed 11/09 and 120 days late. My taxes were offset and it shows paid $0 balance 03/10.

Does this seem right?

[Anonymous]

You know the government does not beat around the bush getting their money. 

It is paid and closed, which is what matters.  The closed date is before the actual payment date but has no impact on your score.

[RobertEG]

If I get your scenario correctly, they notified you of overpayment in the spring of 2009, thus establishing your indebtness to them to repay.  They set a period for due date, and you went 30. 60. and then 90 days late in satisfyng the debt.  I dont see anything improper in this scenario.

I dont understand, from what you have said, how a "charge off" entered into the picture?

[jjamm7667]

Thanks guys for helping.. I did'nt know a charge off could come so quickly. I called to see if it could be removed and the guy on the phone said to request it in writing but so far I have not gotten a response to any of my GW letters.

[jjamm7667]

Hello Guys... I have some new info I need help with. I was browsing around the VA website today and decided to see exactly when I recieved my GI Bill payment. I called the 1 800 and found that I was paid on June 26th, 2009 (only payment received). The account was reported to the CRA's  as 120+ late and a Charge Off in August 2009 (about 6 weeks later).

How is this possible?

[Anonymous]

Its not.  I would be contacting them to have them fix it.

[jjamm7667]

This is from my TU report. ... Should I dispute?

[Anonymous]

I would not dispute it.  Call the VA and find out what is going on.  Ask them to correct it or remove it.

[jjamm7667]

Hello.... I just got this in the mail today... Thanks for the advice again guys...

I got this because of this site ... I can't say thanks enough

[llecs]

Congrats!