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  1. 12-22-2009, 10:47 PM #1
    TigerGirl1226
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    Question Credit Report Questions

    Although we don't plan to use credit again anytime so, I am still concern with having a clean credit report. I just checked DH's and there are 2 accounts that are classified as "charged off". They are both CCs that went to collections, but have since been paid in full. Is that still the correct classification or does "charged off" mean that we didn't pay the debt.

    I might yet have more questions, but I'd be really thankful for any help!
    Working on Our Debt a Day at a Time:

    Chase #1: Paid $1307.12 of $1925.04
    Bank of America: Paid $1054 of $1600
    Dillard's: Paid $953 of $1750
    Medical (too much to list so I am going one at a time):
    Amex #1: Paid $3975.50 of $3975.50 Paid in Full 3/09
    Chase #2: Paid $4489.75 of $4489.75 Paid in Full 12/09
    Macy's: Paid $337.24 of $337.24 Paid in Full 9/10
    Lane Bryant: $300 of $300 Paid in Full 7/10
    MRI Paid $1080 of $1080 Paid in Full 2/11
    Amex #2: Paid $8286.17 of $8286.17 Paid in Full 7/11
    Foot Surgery: Paid $1759 of $1759 Paid in Full 8/11
    Furniture: Paid $2000 of $2000 Paid in Full 3/12


    2012 Fling 319/2012
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  2. 12-22-2009, 11:20 PM #2
    Contrary Housewife
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    The CC company charged off the account as a loss. This is the mark against you. They then sold the right to try and collect all or some of the debt to a collection agency -- since you still owed the money. You paid the debt collector. The report is correct. It will be on your credit report for 7 years.
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  3. 12-22-2009, 11:22 PM #3
    TigerGirl1226
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    I know the money went to AMEX at some point (I think) because I could still access my bill via the AMEX site. Does that mean that my account was sold to the collections or they collected and sent the money to AMEX?

    I've always been fuzzy on this point.

    Also, from what I just read online,if I had never paid these off, it would have been classified as charged off. Even though we paid it, it'll still look outstanding?
    Working on Our Debt a Day at a Time:

    Chase #1: Paid $1307.12 of $1925.04
    Bank of America: Paid $1054 of $1600
    Dillard's: Paid $953 of $1750
    Medical (too much to list so I am going one at a time):
    Amex #1: Paid $3975.50 of $3975.50 Paid in Full 3/09
    Chase #2: Paid $4489.75 of $4489.75 Paid in Full 12/09
    Macy's: Paid $337.24 of $337.24 Paid in Full 9/10
    Lane Bryant: $300 of $300 Paid in Full 7/10
    MRI Paid $1080 of $1080 Paid in Full 2/11
    Amex #2: Paid $8286.17 of $8286.17 Paid in Full 7/11
    Foot Surgery: Paid $1759 of $1759 Paid in Full 8/11
    Furniture: Paid $2000 of $2000 Paid in Full 3/12


    2012 Fling 319/2012
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  4. 12-23-2009, 02:51 AM #4
    Palooka
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    Quote Originally Posted by TigerGirl1226 View Post
    I know the money went to AMEX at some point (I think) because I could still access my bill via the AMEX site. Does that mean that my account was sold to the collections or they collected and sent the money to AMEX?

    I've always been fuzzy on this point.

    Also, from what I just read online,if I had never paid these off, it would have been classified as charged off. Even though we paid it, it'll still look outstanding?
    Did you do like a debt settlement?
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  5. 12-23-2009, 06:22 AM #5
    Greebo
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    It sounds like it was never updated as being paid/settled.

    You kept a the paperwork from the collector, right? You can file a dispute with the credit report, send a copy of the paperwork, and demand that they correct the report. They'll try to check with the creditor and they have 30 days to confirm the debt and correct the item, or remove it.

    It's a legit debt, so it should be on there - and you have a bad history with them, so that's legit. Charged off and settled is still a negative. But you do want the report to show that it was settled, not that it's outstanding.
    If you could kick in the pants the person responsible for your problems, you wouldn't be able to sit for a month.

    Did you know that a 4 year student paying $20,000/year who finances their education graduates with over $103,000 in debt to start? But a student who works and pays cash and takes 6 years to graduate ends with $6,300 in their pocket! So much for "getting a head start by financing!"

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  6. 12-23-2009, 04:43 PM #6
    TigerGirl1226
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    The debts weren't settled, we paid them in full.
    Working on Our Debt a Day at a Time:

    Chase #1: Paid $1307.12 of $1925.04
    Bank of America: Paid $1054 of $1600
    Dillard's: Paid $953 of $1750
    Medical (too much to list so I am going one at a time):
    Amex #1: Paid $3975.50 of $3975.50 Paid in Full 3/09
    Chase #2: Paid $4489.75 of $4489.75 Paid in Full 12/09
    Macy's: Paid $337.24 of $337.24 Paid in Full 9/10
    Lane Bryant: $300 of $300 Paid in Full 7/10
    MRI Paid $1080 of $1080 Paid in Full 2/11
    Amex #2: Paid $8286.17 of $8286.17 Paid in Full 7/11
    Foot Surgery: Paid $1759 of $1759 Paid in Full 8/11
    Furniture: Paid $2000 of $2000 Paid in Full 3/12


    2012 Fling 319/2012
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  7. 12-23-2009, 08:54 PM #7
    NikoSan999
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    http://www.bankrate.com/brm/news/debt/20021216a.asp

    http://www.bing.com/search?q=charged...c=IE-SearchBox
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