Transunion reporting question: no balance reported?

[JM761]

Good morning,

I have searched for an answer and can't figure this out. I thought I would ask here...I'm not sure how to read this part of my report.  

I have a charge off from 2019 w/ Chase (info pasted below),. I understand it's a charge off and there's not much I can do but wait. I did opt to settle it last week. I don't see an obvious spot for a balance here on the Transunion report but, at least on experian's report (dated today), it still shows a balance, so I'm assuming the paid charge off is not reflected on my Transunion repoert yet either. I know it will take some time. 

My question is about how it's reported on transunion and what the info in red (below) means - is it just inaccurate reporting? 

It looks like they don't have the balance listed in the text like Experian does but in the Month-by-Month section is shows a balance of approx $8700 (which was accurate)

I don't know where the "highest balance" of 15k came from - how could I have a balance of 15K in Oct 2019 if the account was closed in Jan 2019?  Does that mean it interest was still accumulating? I thought it stopped once the account was closed. Also, if that is the case, then why does the balance only say $8700 not $15,000 (not that I'm complaining)

Also, it says the charge off is set to disappear in 2018, which is obviously not correct. Since this was recently paid, should I dispute or ask them to correct any of this?

THis is confusing but, now that I'm typing this, I wonder if I just need to wait and see what happens when they update the file? The experian info is less confusing - even though it has much of the same info. Experian doesn't have the dates on the high balance, which is what is throwing me for a loop.

Thanks in advance...it's tricky deciphering all this!

JPMCB CARD SERVICES

Date Opened 06/21/2000 Date Updated 11/12/2019 Last Payment Made 03/01/2019 Pay Status >Charge-off< Date Closed 01/10/2019 High Balance (Hist.): High balance of $15,129 from 10/2019 to 11/2019 Credit Limit (Hist.): Credit limit of $8,000 from 10/2019 to 11/2019 Estimated month and year this item will be removed 09/2018

[donkort]

Do you know the "date of first delinquency"?  If this was supposed to come off in 9/2018, the DOFD would be 9/2011.  This could be plausible, since you got the card in 2000.

Yep.  This is confusing.  I would call TransUnion for clarification.  Does this charge-off appear on Equifax or Experian?

If I were in your shoes, I might be inclined towards disputing this charge-off if you actually paid this off before 2019.  How could you have a "credit limit" and a "balance" after you've paid them off?  And especially if you have evidence for this.

I would call them personally, and talk to them about that item which you posted, rather than submit an online dispute.

If you are not in the process, say, of buying a house or obtaining new credit, a dispute wouldn't hurt you one bit.

[JM761]

Thank you for the quick response, @donkort !

Sadly, I didn't pay off the debt in 2019, I paid it last week! It was charged off in 2019 but I settled w/ the agency in March 2022. That's why I'm so confused on the dates. The account hasn't been updated on my report since 2019 so I think I might have to wait until the update with the new "paid" data. I checked experian and it has similar info - so the data is coming from Chase like this. 

I think I need to research a bit more about DOFD. Thank you for that info...

According to the records my first  Dec 2017 was my first 30 day late.

2018: 30 day late in Jan, Feb and Dec 

2019: Jan (60), Feb (90), ok for March/April, May (30) and then continued w/ lates until CO in Nov 2019

I wonder if I had a late a looong time ago, as you suggested (2011ish) and then I brought the account up to date and stayed current until Dec 2017 (that's where we hit a really bad spot and I couldn't keep up).

Maybe, before contacting anyone, I'll dig deep and see if I can find anything. I can even call Chase and see what they have on file. 

Thank you for this advice...I'm glad I wasn't the only one confused! The more I think about it, the more I think that maybe I had fallen behind a while ago and they had some old data in there b/c there's no way that a debt should be removed from a CR before it was even CO!

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[FinStar]

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@donkort wrote:

Do you know the "date of first delinquency"?  If this was supposed to come off in 9/2018, the DOFD would be 9/2011.  This could be plausible, since you got the card in 2000.

Yep.  This is confusing.  I would call TransUnion for clarification.  Does this charge-off appear on Equifax or Experian?

If I were in your shoes, I might be inclined towards disputing this charge-off if you actually paid this off before 2019.  How could you have a "credit limit" and a "balance" after you've paid them off?  And especially if you have evidence for this.

I would call them personally, and talk to them about that item which you posted, rather than submit an online dispute.

If you are not in the process, say, of buying a house or obtaining new credit, a dispute wouldn't hurt you one bit.

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@donkort- the OP stated "I did opt to settle it last week" on the 2nd paragraph in their op.

[AndySoCal]

@JM761  You have a few options availible to you

1) Presuming you paid Chase directly and not a collection agency. You can contact the department where you settleed the loan. Ask them how long it takes for the settlement to report to the bureaus. Pending on the answer ask if this can be expedited due a loan is pending.

2) The lender (not you)  can do what is called a rapid resolve on that trade line.  Some lenders will some wont. Rapid resolves are not cheap.