quick question and i appreciate your help

[kese]

i have a charged off cc from 2008. but the TL in my EQ shows 60,90 and L past dues.

I have score watch and  under my negatives,  it lists it under 2 sections-delinquent account and late payment in 14 months ago.

The past 24 month history shows payments and missed payment which is incorrect as i was not making any payment and it was closed

If i dispute that this account be listed as a charged off from 2008 Will it hurt or help?

Never missed payment since in all my currently active cards and this one is closed and charged off.

Thanks guys for all your inputs.

[RobertEG]

The creditor can, and usually does, continue to report the current delinquency status of their account.  That is not the addition of a new derog, it is their statement that the status remains as previously reported.  I suspect that is what they are doing....

Mulitple, cumulative delinquencies as well as a CO can be reported, so having both delinquencies and a CO reported is not inaccurate. 

As basis for a dispute, what is the inaccuracy in their reporting?

[kese]

That I didn't make payments in 2011 and then missed!
This makes my last missed payment less than a year and 2 months ago.
Account was closed 2008. No activity since then

[Shogun]

I do see an inaccuracy there.  It would change the SOL if the account was brought back up then delinquent again.  You need to find out the DOFD of the account then you would know your SOL.

[kese]

That is the inaccuracy and i can challenge it. what they can do is list CO,CO,CO for 3 yrs or KD.

That removes "missed payment recently" from my report.

Will this boost my score or it can hurt my score?

[llecs]

IMO, it's reporting correctly. They are allowed to mark late every month with a CO up to the point the TL is paid off, settled, or sold to a CA. If marked current for a given month, you wouldn't want them to add lates to have it reporting correctly. I'd send a PFD.

[kese]

Thanks guys. I will do that.

[Shogun]

Still a CO and that is a major ding.  Can you pay the bill?  Maybe try for a PFD? 

[Dapper_Dan]

I recently disputed a 120+ on a CO account with USBank.  I disputed because the 120+ was 1 full year after no activity.

I read on this forum that disputing a CO is a bad, bad, bad idea.

It was too late for me to reverse the dispute.

USBank came back with an answer to the dispute:  38 marks of 120+ lates.  Not what I wanted....

Turns out my score did not change at all.  The last activity from from 2008.

My advice is to leave it alone, unless you want some smart ass at the bank to hit you with lates for all months.  They have no problem doing this to try and destroy your credit.  Only, in my case, it did not change my score.

My problem now: try to explain 38 120+ lates.

The only solution for quick remedy now is to offer USBank a pfd.  They are outside the SOL in my state, so I will obviously deny the balance owed but offer 15% to settle and delete the info.

In short, it's a Pandora's box.  If it's a CO, you will not benefit from a dispute.  You will only benefit from a PFD.  If you PIF, your credit will not improve because they will update your account with just as many lates.  You need to make sure you take the settlement route and get them to delete the derogs.

[llecs]

I fell into the same trap in my early repair days, Dan. The FICO didn't change because FICO looks at the most recent delinquency, which in this case is the monthly updating CO itself. COs typically update monthly with new lates so when the older lates appeared, there was no change in score.