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My husband defaulted on his credit card by 150 days back in 2010, in that same year his account was sent to a debt collector and since June 2010 we agreed to have the payment taken directly out of our checking account. For the first couple of months the monthly payment was higher to cover the past due amount and then the payment dropped once the past due's amount was reached. So 20 months have gone by and now the credit card company has issued a "charge off" for January 2012 stating that he is past due $379. We have not received any statements from this credit card company stating that we owe them $379, how is this possible when all payments go directly to the debt collector? is this even legal if we are paying every month?
charge off reported on credit report
Do you have any documents that will prove that you have repaid your debts to the collector? If yes, then show it to the credit card company.
charge off reported on credit card
We are still paying every month to the debt collector and we have talked several times to the credit card company which tells us that we owe the $379 that they are saying we are past due and who has also after 20 months issued a "charge off"
Charge off Reported on Credit Card
If a credit card company has charged off the debt then that means they have filed that as a deduction on their business which means they by federal law they can not report it on your credit report. You can simply do an online search for this information along with letters that you can send to the creditor to have them remove it from your reports. If they respond saying they will not remove it then you have cause to file a civil suit against the creditor which will get them an automatic fine of $1000 per applicable laws. Chances are they will agree to remove it before the hearing but either way you win.