Swiss Colony

[lauramg80]

I have a chargeoff from Swiss Colony from 2008. I would really like to pay it and get it out of the way but I am worried about how they will update my report. Has anyone had an experience with paying a chargeoff with them?

Thanks

[ptkdude]

Generally speaking, if you pay in full a charged off account, it should be updated as paid charge off with a zero balance. How is it reporting now? What concerns do you have about how they will update it?

[lauramg80]

I have read (on other forums) where people paid their chargeoff and rather than Swiss Colony updating to paid chargeoff they updated to all lates as if the account was still open. Making the lates look recent.

[mmb]

I'm actually dealing with Swiss Colony on something similar right now. They're pretty awful. I had an account that was opened in late '05, went to delinquent in late '06 and I ended up paying in full in Feb '07. They reported to all three credit agencies as a charge-off in September of '11. I've been disputing it since and all that's accomplishing is that now it looks like a more recent charge-off on my report! It's ridiculous.

[sorrella19]

I am dealing with the same thing....I paid the full amount to a collections company-too many many calls to them to even get a paid in full letter yet Swiss Colony is still reporting as charged off and delinquent.  Is it true that the account would still be reporting a balance of 296 if it was charged off AND sole to third party  AND paid by me?  I have disputed, sent the paid in full letter to all three bureaus and nothing works....any advice would be helpful!

[Burned2manybridgesB4]

OP, pull your credit reports, and find out how this CO is reporting.

If it shows charge off status, and a zero balance, that typically means that a collection agency has become the owner of the past debt.

[LIGHTNIN]

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@sorrella19 wrote:

I am dealing with the same thing....I paid the full amount to a collections company-too many many calls to them to even get a paid in full letter yet Swiss Colony is still reporting as charged off and delinquent.  Is it true that the account would still be reporting a balance of 296 if it was charged off AND sole to third party  AND paid by me?  I have disputed, sent the paid in full letter to all three bureaus and nothing works....any advice would be helpful!

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Hi and Welcome to the forums,

This thread was started a year and a half ago, so those posters may or may not be actively on the forums now.

Can you copy/paste, how this tradeline is currently reporting?

[sorrella19]

It is posting as charge off-customer disputes and it reports a balance of 176 but I paid off more than that to a collection company.  last reported 2/13 which must have been my last dispute.

[LIGHTNIN]

Locking thread, due to similar thread found here.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Swiss-Colony/m-p/1945041