Experian Paid Collections / Charge Off Question

[Anonymous]

Hi.  I'm Steph and I am new here.  After getting advise from these forms for 6 months (just reading), I have finally started to rebuild my credit.  But I need help with a collection account that I have already paid which I think is reporting as recent late payment / charge-off.  Experian customer service nor the collections agency has any clue what I am talking about.

Situation: I recently found out that an old student loan was bought from Navient (which I guess use to be Sally Mae) and then sold to ECMC which went on my report in 2016.  Upon finding out that ECMC had put me in collections, I called them and paid the loan off completely on December 18th 2018.  ECMC claimed the loan was closed and paid in full and that they send the status to credit agencies every first Sunday of the month (that was suppose to be Jan 5, 2019).  

My ECMC loan in my Experian account is showing as 2 charge-offs.  Both November and December showing as "N".  My Experian file says my last recent late payment was 1 month ago.  This is not possible for any other account since everything has been paid on time.  But the payment history on my ECMC account shows 100%.  All the information in it not only confusing but contradictory.  What is going on here? I just need someone to make sense of it and if someone has experience with this?

Thank you to anyone who can help!

-Step

[Anonymous]

A collection and a charge off or two totally different things. A charge off happens when the original creditor basically takes the amount out of their assets column and bookkeeping. Afterwords they can sell the debt to a debt collector or hire one to collect from you.

The charge off happens on the original tradeline. A collection is a totally separate entry.

You need to do a goodwill campaign to get the charge-offs off of the original tradeline if they are there.

If you pay the collection you should’ve tried to pay for delete. You may still be able to talk to them and get them to delete it. You would have to search the creditor in the forums and see if anyone has experience with them.

[FireMedic1]

I'll ping @Anonymousi and see what she says as our in house student loan expert. It seems a CFPB compalint should be filed. But I'm no SL expert.

[sjt]

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@Anonymous wrote:

Hi.  I'm Steph and I am new here.  After getting advise from these forms for 6 months (just reading), I have finally started to rebuild my credit.  But I need help with a collection account that I have already paid which I think is reporting as recent late payment / charge-off.  Experian customer service nor the collections agency has any clue what I am talking about.

Situation: I recently found out that an old student loan was bought from Navient (which I guess use to be Sally Mae) and then sold to ECMC which went on my report in 2016.  Upon finding out that ECMC had put me in collections, I called them and paid the loan off completely on December 18th 2018.  ECMC claimed the loan was closed and paid in full and that they send the status to credit agencies every first Sunday of the month (that was suppose to be Jan 5, 2019).  

My ECMC loan in my Experian account is showing as 2 charge-offs.  Both November and December showing as "N".  My Experian file says my last recent late payment was 1 month ago.  This is not possible for any other account since everything has been paid on time.  But the payment history on my ECMC account shows 100%.  All the information in it not only confusing but contradictory.  What is going on here? I just need someone to make sense of it and if someone has experience with this?

Thank you to anyone who can help!

-Step

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If you paid this account in full back in December 2018, the account should show it as a "Charge Off" with a notation in the memo section stating "payment in full after charge off", and a zero balance. The monthly reporting should have stopped back in January 2019. 

Do you see any indication that the account was paid and a zero balance? Are you looking at the right account?

[Anonymous]

Yes, the account shows closed and paid with a $0 balance but my concern is that it's showing November and December as late or "N" for negative. And my Experian report states that my last late payment was 30 days ago.

Nothing else could have triggered it.

I'm trying to post an image / screenshot here but seems like I can't.

[Anonymous]

If you paid it in full in December and it was delinquent at that time, then your last late would be one month ago, because it was delinquent last month until you paid it.

The letter N could be referring to not reported/No data.

Is this the collection showing or the original tradeline? Or both?

[sjt]

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@Anonymous wrote:
If you paid it in full in December and it was delinquent at that time, then your last late would be one month ago, because it was delinquent last month until you paid it.

The letter in could be referring to not reported.

Is this the collection showing or the original tradeline? Or both?

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Op paid it off in December 2018.

[Anonymous]

I called Experian and opened a dispute and the error has been corrected. Now it just shows as a paid collection account that will still be on my report for a while but the bad payments are gone.

Thanks for everyone who took the time to reply.

[Anonymous]

Congratulations! Shame you could not have done a pay for delete on the collection. What the heck it can’t even hurt to ask the CA to remove the collection.

Edited: I misunderstood the timeline.

@sjt Yes, I know it was paid in December that’s why it would’ve been delinquent until then, I’m assuming without more information. And since OP referenced both charge off and collection, I was seeking clarification as to which was the problem or both.

[satio]

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@Anonymous wrote:
Yes, the account shows closed and paid with a $0 balance but my concern is that it's showing November and December as late or "N" for negative. And my Experian report states that my last late payment was 30 days ago.

Nothing else could have triggered it.

I'm trying to post an image / screenshot here but seems like I can't.

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<Response Deleted> as I replied before reading further down that you had basically already done what I was suggesting.