Posts Tagged "charge off"

Repossession or voluntary surrender will remain for seven years

Dear Experian,

How long does a derogatory closure of an account pertaining to an auto loan affect your credit scores?


Entering payment plan will not “restart the clock” for removing charge off

Dear Experian,

I have a charge off from 2009. I am in a payment plan. Does this mean I started the clock over on when the charge off will be removed?


An account update by your creditor will not change when it is deleted

Dear Experian,

If a negative item is past seven years on my report and the creditor updates it, will it ever come off my report?


Collection efforts can continue after the account is removed from your credit report

Dear Experian,

Can a charged off account on your credit report that was opened in 1999 and closed in 2010 be sold to another collection agency and then be given to an attorney to get payment from me?


When negative information will be removed from your credit report

Dear Experian,

If the account status information says the item will be moved from negative to positive on a certain date, what determines when and why that happens?


Adding a statement explaining collection accounts to your credit report

Dear Experian,

Can I include a letter in my credit report to explain a charge off or collection?


“Paid in full” charged off account is better than “settled for less than owed”

Dear Experian,

If you have a charged off account, is it better for it to show “paid in full” or “settled for less?”


Balance on collection account may not be updated until it is paid in full

Dear Experian,

I have a “charge off” credit card account on my credit report that I have been repaying for over a year. I am paying the original creditor, as they handled their own collections. Why aren’t these payments showing on my credit report?


Collection account payments should never be sent to Experian

Dear Experian,

I recently looked at my credit report and saw that I owe two debts, and Experian is the collector. My question is where do I send the payment? I have been trying to pay it for a while now with no luck. Can you help?


Collection account and charged off account for same debt in credit report

Dear Experian,

If an account is “charged off” and sold to collection agency, how can both accounts be used against you? My credit report shows two negative accounts. I owed $1,900, but now one account shows the original amount owed and a separate account shows $2,300 owed to a collection agency. Will both accounts stay on my report for seven years? The original account was four years ago, but the collection is only three months old.


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