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Hey everyone!
So Im looking at my 3 reports and notice that for my Credit One account has a different status for each one. Is this worth disputing with them to fix? Does the status effect your score?
This account was a charge off. Here is what each one says for the status:
Ex - Closed. $283 written off.
TU- Account Paid In Full; Was A Charge Off
EQ- Charge Off
I'm in the same situation,i would like to see what others with more experience share with us
I was experiencing this, but two of mine showed Pays as Agrees, but Transunion showed charged-off as bad debt,
I disputed with TU and it ended up making me lose 4 points on EQ, as they updated all of them so say charge-off, paid.
Thats what im afraid of
Per FICO, and in the eyes of a lender, all 3 are scored the same as a CO. I wouldn't do anything.
@golo wrote:
Hey llecs,but what If the tradeline is included in your utilization? Wouldnt that help your score if you pay it down? Thanks in advance.
In most cases, absolutely if a CO'd CC. I was focused on OP's comments which indicated it was PIF.
I dont see anything inconsistent in the statements. What I see are general statements that do not identify the code upon which the statements are based.
Once a charge-off is reported, the fact of later payment has no effect on the fact of having been charged-off. It remains in the payment history profile.
When an account is paid, the current status is updated to paid. Current status is just a snapshot, and once paid, the prior current status of CO is overwritten. But it is retained under other codes.
If the status prior to payment was a CO, the CO is retained under the code Payment Rating as the highest prior level of delinquency, and of course is still retained under your payment history profile. Current status simply does not give historical information. Current status in your case should read paid, current balance should be $0, and payment rating code should be a CO.
None of the statements provided clearly identify the specific status upon which the statement is based. None are clearly inaccurate.
To dispute, it would be necessary to know what specific status code is inaccurate. I dont believe your CR gives you that information.
Provided you can identify a clear reporting error, sure, it is advisable to get your CR updated. However, a dispute never requires the furnisher of the information to delete the disputed information if they can correct it so as to make it accurate. So I would not expect a dispute to result in any deletions.
A dispute will result in a dispute flag, temporarily affecting your score. If you pursue the issue, I would not start with a dispute. I would contact the creditor and try to get it corrected informally.