Victim of re-ageing???

[Anonymous]

Hi guys I have  been on the forum for a while rebuilding my credit. I recently noticed a trend with cap1 lately. I believe they have been re ageing my old charged off account i had with them 2 years ago. The reason  I say is the fdod was in July of 2015 and i assumed it was charged off later that year maybe jan  of 2016.since then they have been updating the status of the account each month after that with a 90 day late. So far I have 19 90 day pages being reported. I would get alerts saying that my balance increased no more than 1 dollar. Can they do this on a account that has been charged off. Please help. The last date of activity on the account was Jul 2015 

[Anonymous]

I think you have stumped us which is why you haven't received any response yet.  I am sure someone will come along with good advice.

Usually, if an account is charged off, it will reflect charged off on your report.  Once they close and charge off, they sell the account to collections.  They shouldn't be able to report and update each month on charged off accounts. It really sounds like the account is still on the books if they continue to report 90 day lates each month.   Is there anything on your report under the remarks section of this account?  That can give us some insight.  The date of first delinquency doesn't change even if they are reporting monthly.  

[RobertEG]

Reporting of a charge-off does not preclude the continued reporting of account delinquencies in the same manner as if were possible had the account not reported a charge-off.  Taking of a CO is an accounting measure that moves the debt in their books from an account receivable (asset) to a non-asset, bad debt.  It does not relieve the consumer of continued obligation for the entire debt.

Many creditors will choose to voluntarily cease continued billing statements or reporting of continued accrual of monthly delinquencies, but are not requried to do so.

Updating affects scoring by positively reporting that the debt remains unpaid, and thus its length of delinquency continues to increase.  That is not improper.

Improper re-aging is a term normally used for improperly updating the DOFD in order to extend the credit report exclusion period.

Reporting of continued monthly delinquencies has no effect on the ultimate credit report exclusion date, which is based only on the DOFD.

[rmduhon]

As long as it's not paid it can be reported as late every month.

[Anonymous]

No remarks on account other than the status being charge off/collection. They were still reporting a balance and i settled with them right before they sold the account since I'm trying to rebuild credit for first home loan. The account was still a open  account per my credit report and i presumed the account closed because they were saying it was closed and like i mentioned 19 90 days late all the way up to April of this year must be killing my score. Is there anything i can do to get this removed can I possibly call them

[medicgrrl]

If you just settled and paid off the account this month then they are reporting accurately.  You were past due up until it was settled/paid.  They continued to update the credit bureaus that you were still past due and unpaid up until you paid it off.  If you paid it off awhile back and they continued to report as past due, then you have something to dispute, but that won't remove the account, it will only change the date paid and payment history after it was paid.