Confused?

[Anonymous]

Hi all,

longtime lurker here. long story short, my car was stolen in september of 2016. there was a mixup with insurance paying it off which led to a charge off with the lender. It’s still on my report as open and derogatory. How do i get this off my report?

i believe it’s hurting my score.

[Moneyklutz]

It def is hurting your score. Charge offs are a derogatory mark that hurts your score bigtime. 

If the insurance company paid off the lender in full, I'd call them and ask for the date of when it happened. If it was before the charge off date then you'd have a case to argue with the lender. If not then I'd still call the lender and at least ask them to correctly report the account as closed but paid in full. 

Open accounts that report as past due will continue to hurt you every month.

[RobertEG]

A charge-off is the moving of a delinquent debt from the receivable assets column of a business accounting ledger to a non-asset, bad debt column.  If it is later shown that a debt was not, in fact, delinquent, then the charge-off was in error, and must be removed from the consumer's credit report.

Did the "mixup" ultimately reach the determination that the debt was never, in fact, delinquent, or only that it became delinquent, but was subsequently paid?