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I have a Cap1 account which was charged off. Through an attorney, the full balance was collected; satisfied judgement. It appears the Cap1 account updated to either a "0" balance or a " - " balance on May 5 depending on how it is presented.
Also on May 5, the status for the month of May was updated to FP or CO, as it had been for the prior 10 months.
Two questions:
1) Is FP accurate, or should I be requesting that May be reported differently?
2) Should I just be waiting for next month to see that there is no status reported for June.
Date Opened | Jan 2015 |
Account Status | Closed |
Payment Status | Charge-off |
Status Updated | Feb 2018 |
Usage | - |
Balance | - |
Balance Updated | May 5, 2019 |
Since it was just resolved this month a FP would be accurate. As you stated next month it should show no payment status. This is what will allow the account to start aging. I still have 2 charge-off's on my CR which I paid about 18 months ago.
Both show a status of 'Paid-was a charge-off' but have had no further payment reporting since I paid them.
So yes I'd wait until next month and see how it looks
There should be no further updates as long as you do not dispute it and leave it be. Per CRA rules paid accounts (closed) with 0 balance are to cease monthly reporting.