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Clarification required.
When you paid off Target back in 03/09, were you then delinquent on the account?
From what you have said, the account was satis. up to that point? Nothing past due?
No, a creditor normally cannot "charge off" a debt until it has been delinquent for at least 180 days. It is an IRS code for them to claim tax benefits.
So I am totally puzzled at how an account in good standing can turn into a CO in one month?
@RobertEG wrote:Clarification required.
When you paid off Target back in 03/09, were you then delinquent on the account?
From what you have said, the account was satis. up to that point? Nothing past due?
No, a creditor normally cannot "charge off" a debt until it has been delinquent for at least 180 days. It is an IRS code for them to claim tax benefits.
So I am totally puzzled at how an account in good standing can turn into a CO in one month?
Sorry for the confusion. The account was delinquent but not charged off. When talking to the reps at Target who kept sending me to the CA, who inturn would not respond they said the account was not charged off. It did not state charged off on my reports as well. It wasn't until I finally was able to get the new CA to respond (The account went through 3 different CA's) and I paid the amount due did they cahnge the status to charge off and also close the account.
I stated that the account was with a CA (they were not on my reports just the OC). On each of my reports theyeither did not update or they had it listed as ok. I knew the ok was wrong but when I finally get the chance to pay, they really gave it to me in a not so nice way!
You'd have to prove it wasn't actually CO.
If it had time to go through 3 different CAs, I am sure it had been charged off, just appears Target never reported that until now.
Are they reporting a $0 balance and that it was paid?
@Anonymous wrote:You'd have to prove it wasn't actually CO.
If it had time to go through 3 different CAs, I am sure it had been charged off, just appears Target never reported that until now.
Are they reporting a $0 balance and that it was paid?
Thank you for you reply. I guess they just didn't feel the need to update to show CO. I was calling at least twice a week and trying to get a number or something to contact the CA who held the account. they have a record of my multiple calls and I sent letters asking anyone to contact me since Target kept telling me that I needed to go through the CA. I even talked to a couple supervisors who gave me multiple numbers to the CA's and still no return calls or letters. I had written about this before on the forum. It went through the 3 CA's over since Sept. of 2008 and finally got Northlad group to respond to me and I paid them directly. It took until April for Target to show a zero balance and then they added the charge-off statement as well as added 120 day lates from June.-until March after I sent a GW lettter. Oh well, just another obstacle to tackle along with the others.