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Credit Charge off Question

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wcd579

wcd579

Joined: 26 Jan 2010
wcd579's page
Posts: 12

206 Magic Points

Subject: Credit Charge off Question

Tue Jan 26, 2010 12:48 pm

I have an account listed on my report as a Charge off, however it states in the description "Paid by company who originally sold the merchandise."

how can they list this as a charge off, if the account was infact paid in full by the vendor? Wouldn't this be the Creditor getting paid twice for the same debt.

debranewell2008

Joined: 10 Oct 2009
debranewell2008's page
Posts: 594

99 Magic Points

Tue Jan 26, 2010 3:46 pm

Since the account wasn't paid by you it is a charge off account. It being listed as paid by company doesn't mean they got paid twice it means they took a loss on the merchandise. Or at least that is what I make of it. I'm sure others will be along to help you out further with this. Just hang in there.

cinnamngrl

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

6339 Magic Points

Tue Jan 26, 2010 3:52 pm

I would dispute this as listedin erroe
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wcd579

wcd579

Joined: 26 Jan 2010
wcd579's page
Posts: 12

206 Magic Points

Tue Jan 26, 2010 3:57 pm

Just got off the phone with my attorney, and she stated, it is a mistake or they are in deed breaking the law. She is sending in a dispute letter for me.

thanks for the replies.

Aaron
Guest

Subject: Charge off

Wed Jan 27, 2010 4:26 am

Hi wcd,

Your credit report reflecting "charge off" on it can be a mistake on the part of the creditors. However it can also be true that they are doing this purposefully. So, what you have done is right. Sending the "dispute letter" to the creditor with the help of an attorney is a good option.

All the best,

Aaron

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