Help me to delete Charge Off with Chase

[Anonymous]

Hi,
I had a charge off with a Chase credit card. This debt was cancelled and declared insolvent by Chase in 2008. I paid applicable taxes for this debt to the IRS since this was reportable income.
This charge off is still on my credit reports and I would like to settle with Chase to have this deleted from them. Does anyone have contact info for Chase at the executive level so that I can send a GW proposal?
I have seen several posts by members who have had success with this.
You can PM the information. Thanks for your help!

[Anonymous]

The CO can remain as a 0 balance owed.  Legally they cannot accept money from you if they submitted a 1099-C and you paid taxes on it.

[Anonymous]

The full balance of the charge off is still reflected with all 3 bureaus. Should it be a zero balance since I received a 1099-c? If so, how can I dispute this?
Thanks

[Anonymous]

I would send the creditor a direct dispute under FCRA 623(a)(8) disputing the fact they issued and you paid taxes on forgiven/cancelled debt.

[Anonymous]

I would start with a dispute and let them get supporting documentation to support them reporting it.  If they can not find it they will remove it.  However, I would gather supporting documentation stating it has been paid, if after their investigation they do not delete the item, you want to send that to the bureaus to make sure it does get updated to report as paid.  Don't send the your docs first, let them do the leg work.

[Anonymous]

Thanks! Does anyone have the appropriate mailing address where I can send this dispute to Chase? I hope there is another address aside from the general correspondence address where a manager can review my dispute letter?

[RobertEG]

Is the reporting at issue regarding the CO that it shows a current debt balance, or that it still shows the amount they charged-off?

The amount charged-off is a sticky code that is not updated based on later discharge of the debt, be it by way of payment or cancellation of the debt.

Ultimate status of the debt does not require any deletion of the reporting of the fact that they took a prior CO on the debt.

Until they sent the 1099c, the full debt remained due to them, but once they dischargedt the debt, updating of the debt balance was required to be promptily submitted under FCRA 623(a)(2).

If the reporting is of a current balance, that is inaccurate.

However, if it simply continues to show the amount they charged-off, that is accurate.

If the account inaccurately shows a debt balance, I would file a direct dispute.  However, the OC always has the option to simply correct any inaccurate reporfting, so resolution of the disptue in your favor wont require deletion of the reported CO itself.

You would need to obtain a GW deletion from them to adress the separate issue of the continued showing of the CO in your report.  Fiiling a prior dispute may not promote GW on their parrt, so I would suggest sending a GW request prior to pursuing a dispute.