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hicksdon

Joined: 08 Feb 2010
hicksdon's page
Posts: 2

62 Magic Points

Subject: Carge Offs

Mon Feb 08, 2010 7:02 pm

We had a car repo, they turned it over to a collection agent, they sued,we negotiated a out of court settlement, we paid it, now it shows a charge off for the difference, what can we do to get it off our report?

Aaron

Joined: 08 Feb 2010
Aaron's page
Posts: 2675

48566 Magic Points

Subject: Carge Offs

Tue Feb 09, 2010 5:27 am

Hi Hicksdon,

When you had settled the debt with your creditor, did not you get that in writing? When did you pay the dues? Did not you check your report then? When you had settled the debt amount with your creditor, you should have asked him to report it to the credit bureaus as "paid as settled".

Now first find out who holds the charge-off. Then send a letter to them asking for a debt validation. After the validation answer, if you want you can pay the amount in full. When an account is charged off it is better to pay it in full. Ask the creditor to agree to a pay for delete. With the pay for delete agreement, the collection agency will report it as "paid in full" to the credit bureaus.

One more thing that you should keep in mind is the statute of limitation (SOL) of your state. If the SOL has expired, the CA won't be able to sue you for the debt. However if the SOL hasn't expired it is better to pay it off.

Remember to do all these through certified mail.
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Don
Guest

Subject: charge off

Thu Feb 11, 2010 5:05 pm

I have a reciept that states paid in full. We negotiated that amount, the difference between what we neg. and what they said we owed still shows on credit report. And it has not been 7 yrs. sence it was reported. I sent a desput to reporting agent but havent herd back. Is that all i can do? I would realy like to get it off.

cinnamngrl

Joined: 01 Nov 2008
cinnamngrl's page
Posts: 1455

6339 Magic Points

Fri Feb 12, 2010 11:13 am

who is reporting the difference? the same collection agency?
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Don
Guest

Subject: Charge off

Fri Feb 12, 2010 5:27 pm

Not sure who , i presumme it is original creditor, but could be Law firm that filed the suit

cinnamngrl

Joined: 01 Nov 2008
cinnamngrl's page
Posts: 1455

6339 Magic Points

Fri Feb 12, 2010 11:06 pm

Are you looking at the hard copy of your credit report?
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CMRRR Templates
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Don
Guest

Subject: Hard copy

Tue Feb 16, 2010 3:30 pm

Yes im looking at a hard copy as well as on my PC

cinnamngrl

Joined: 01 Nov 2008
cinnamngrl's page
Posts: 1455

6339 Magic Points

Wed Feb 17, 2010 11:01 am

did you include a copy of the receipt in your dispute? I think you should complain to the attorney general about this.
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Don
Guest

Subject: Receipt

Wed Feb 17, 2010 3:59 pm

No i did my dispute on line. Are you talking Attorney General in Okla.?

cinnamngrl

Joined: 01 Nov 2008
cinnamngrl's page
Posts: 1455

6339 Magic Points

Wed Feb 17, 2010 4:00 pm

Online disputes work about 5% of the time. Send a dispute in writing and include the receipt. Send it CMRRR.
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CMRRR Templates
How to PFD, OPT-out, Complain, etc
All credit articles at EHOW

Don
Guest

Subject: Certified Mail

Wed Feb 17, 2010 4:17 pm

Thank you so much, it will be done.

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