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charge off question

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charge off question

hi guys, im back with same old comenity bank charge off question.

 

I have paid it and portofolio removed, however i tried GW with comenity about 3 months now 20 letters every 3 weeks. I get response 50% of time. They respond every time that account does not belong to them anymore and to contact Portofolio Recovery. I dont know what to do about them. Also have anyone had any luck with removing Celtic bank off reports? I have 0 collections at the moment on file, all paid in full. Two charge offs mentioned above,and about 10 late payments for Cap1 auto/down from original 16. Trying to get scores high enoung to possibly get a house by this summer( end of it at least). Any input is greatly apreciated.

Message 1 of 8
7 REPLIES 7
Regular Contributor

Re: charge off question


@martypav7 wrote:

hi guys, im back with same old comenity bank charge off question.

 

I have paid it and portofolio removed, however i tried GW with comenity about 3 months now 20 letters every 3 weeks. I get response 50% of time. They respond every time that account does not belong to them anymore and to contact Portofolio Recovery. I dont know what to do about them. Also have anyone had any luck with removing Celtic bank off reports? I have 0 collections at the moment on file, all paid in full. Two charge offs mentioned above,and about 10 late payments for Cap1 auto/down from original 16. Trying to get scores high enoung to possibly get a house by this summer( end of it at least). Any input is greatly apreciated.


Without sharing personal details, what is the substance of the GW letter request?

 

Maybe someone with experience with GW success could make some suggestions for changing the copy of the letter.

 

 



Message 2 of 8
Super Contributor

Re: charge off question


@martypav7 wrote:

hi guys, im back with same old comenity bank charge off question.

 

I have paid it and portofolio removed, however i tried GW with comenity about 3 months now 20 letters every 3 weeks. I get response 50% of time. They respond every time that account does not belong to them anymore and to contact Portofolio Recovery. I dont know what to do about them. Also have anyone had any luck with removing Celtic bank off reports? I have 0 collections at the moment on file, all paid in full. Two charge offs mentioned above,and about 10 late payments for Cap1 auto/down from original 16. Trying to get scores high enoung to possibly get a house by this summer( end of it at least). Any input is greatly apreciated.


 

Look at your reports. If the accounts has a $0 balance reported. Then yes they dont own it anymore. It was sold to PR. They got paid for the CO's. If there is a balance then they certainly do own it. With the late payments. Were they all in a row. Or spread out in groups. And please list them. 30, 60, 90, 120 day lates. You'll want all past debts PIF before house hunting. And we need your FICO scores for now.





My posts are JMHO. My siggy is not to brag at all. Just sharing my experiences after learning here from rebuild to recovery after BK DC @ 540's. And to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 3 of 8
New Contributor

Re: charge off question

My fico score as of right now are EQ-577 TU 592 EX 604. Regarding to Comenity bank, they sold account to portofolio but they remained on report balance 0. I paid collection to portofolio and they deleted within 2 weeks but Comenity bank part stayed. Celtic bank/indigo almost the same sold to CA, i paid- deleted.
Late payments part were all in row 1-30 day 4-60 and 5-90 days late. I been asking cap1 auto finance every 3 months to delete late. Previously they would update it to on time payment, in December they marked it as unknown payment history.
Other than these i have nothing negative on file.
Message 4 of 8
New Contributor

Re: charge off question

The original charge off doesn’t get deleted. It will be there for 7.5 years. For now it just needs to show 0.00.
BK 7 Discharged May 2014, Expected removal Feb 2024



FICO8s Dec 2019
Message 5 of 8
New Contributor

Re: charge off question

@collics Thats hard to believe. I had 6 charge off on my account all charged off September thru December 2017 but only Comenity bank and Celtc bank/Indigo remain. All other were removed after i paid CA. Only things what throws me off is when I contact them, they say they dont have account in their file since its sold.
Message 6 of 8
New Contributor

Re: charge off question


@martypav7 wrote:
@collics Thats hard to believe. I had 6 charge off on my account all charged off September thru December 2017 but only Comenity bank and Celtc bank/Indigo remain. All other were removed after i paid CA. Only things what throws me off is when I contact them, they say they dont have account in their file since its sold.

You can have them removed, but its up to the creditor. Nothing forces them to remove it legally until you have hit the 7 yrs and 180s. Them removing it because they did it themselves, through GWLs or by dispute, thats them doing it, not because they were required to. If they choose not to, you are stuck with them until they fall off and the age mark.



Jan 2020
Currently rebuilding. Cards aren't worth bragging about yet.
Message 7 of 8
Highlighted
Legendary Contributor

Re: charge off question

Creditors will often choose to voluntarily delete their account reporting after they sell a delinquent debt.

 

While they are only required after sale of the debt to update the current balance to $0, they can no longer monitor the current status of the debt with the new owner after they sell it, and as a business practice, choose to simply delete in order to avoid the consumer confusion accompanying lack of update of status from its final delinquency status with them if the consumer should later pay the debt to the new owner.

Deletion removes any possibility of having to later investigate any consumer dispute.

Message 8 of 8
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