I recently disputed a claim on my CR trying to get it removed. To no avail. I had a deliquent account with a company called premier designs, I didn't keep up the payments and the account went into collections, it became a "shoppers account charge". Anyway I get a phone call one day offering me a settlement, so I took it. Not thinking at the time about it still being on my CR. It was listed as a charge off with a balance owed. So I disputed it and now its listed both from Premier Designs and SCA as a 0 balance but it says its a repo, charge off, collections, derogatory paid, sold / transferred. I'm not sure about any of this but nothing was repo'd And most of this stuff was added after I made a dispute. This debt is less than 2 years old so I really don't want to wait for it to drop off eventually. Is there any help for this?
The OC still has the right to report it as a charge off because that's exactly what it was when they sold off the debt. The CA you settled with will likely still report it as a settled account as well, unless you negotiated something different as part of the settlement. Unfortunately, it sounds like you've learned the hard way that settling your debts or even paying them off in full doesn't necessarily mean it will improve your credit score right away. A paid charge-off basically hurts as much an an unpaid charge-off, and 7 years is a long time to just wait for them to drop off. Some people have had success at least getting the OC to remove the charge-off by contacting them and providing proof that they debt has been taken care of. However, it's still well within their rights to keep reporting the charge-off as is.
Yea I kinda figured that after reading up on the forums here. But is it right for them to list it as repo? There was not any kind of repo what so ever. I wish I would have found this forum beforehand, it could of saved a lot of headache.
