Paid charge off reported incorrectly???

[Red1Blue]

OP,  Thank you very much for sharing your experience with us. Please let us know how you make out and how the reporting by NFCU works. I am in the process of paying off 3 COs with them and I want to get better understanding how NFCU is updating.

[Anonymous]

Thank you for your guidance. I hope that’s what they’ll do. The two reps made it seem the opposite but I guess I’ll wait.

Sorry about the cross post. I posted their initially and then realized this was the proper forum. I couldn’t figure out how to delete

Thanks again

[Anonymous]

Of course. I will definitely update. I guess the one thing for you to be careful of is what the reps tell you. I trusted them so I didn’t wait to get the settlement letter to make the payment. It doesn’t appear to be a problem but will all this it has me a little worried as st the moment I have no proof of settlement.

[Red1Blue]

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@Anonymous wrote:
Of course. I will definitely update. I guess the one thing for you to be careful of is what the reps tell you. I trusted them so I didn’t wait to get the settlement letter to make the payment. It doesn’t appear to be a problem but will all this it has me a little worried as st the moment I have no proof of settlement.

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So they sent you a settlement letter either before or after you made the payment stating the account is settled in full ?

[Anonymous]

So they confirmed the letter was sent but I haven’t received yet. They advised it takes up to 30 days to write up and mail. And with all the holidays recently I understand. I just settled on December 31st.

I’m just advising that you should maybe get the letter prior to you making the payment to protect yourself. Based on the other replies it seems this is just the first update and the next should resolve everything. But just in case I wish I had that proof of the letter already.

[OmarGB9]

you live and learn. now you know for next time. but of course hopefully there won't be a next time.

[Red1Blue]

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@Anonymous wrote:
So they confirmed the letter was sent but I haven’t received yet. They advised it takes up to 30 days to write up and mail. And with all the holidays recently I understand. I just settled on December 31st.

I’m just advising that you should maybe get the letter prior to you making the payment to protect yourself. Based on the other replies it seems this is just the first update and the next should resolve everything. But just in case I wish I had that proof of the letter already.

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I am trying to confirm the verbage in the letter and also their practice. The letter I have says "settlement". ( I am not sure if there is any difference between settlement and settlement in full ). I'll call the rep on Monday and confirm that they will report it as $0 after the payment is made.