Charged Off, Closed Account - FP

[Anonymous]

Disc has Closed my account, Charged Off. But noticed they are reporting every month on my report as "FP" (failed to pay on experian). I still have few months to go complete SOL period.

I have same situation with AE, but they continued reporting till i made last payment, then after i see is Blank (Data unavailable) since last 5 years. Any specific reason or can Disc do this and hurt my score?

[Anonymous]

If you didn't pay it, then they can report that.

[rmduhon]

Yes, they can report that every month until the credit reporting exclusion period which is 7.5 years from the Date of First Delinquency

[RobertEG]

Closing the card means you can no longer make additional charges.  It does not end reporting of delinquency status.

Taking of a charge-off does not effect the consumer's continued obligation for the entire debt, or prevent continued reporting of further delinquencies.

Some creditors will disconintue reporting of delinquencies after reporting a charge-off, but are not required to do so.

The period of delinquency continues and gets longer.

Increased delinquency level or period is an acceptable scoring factor.