Hey all, A friend has a cap1 chargeoff that was recently settled for 50%. She disputed with Equifax as wrong balance since it was still showing the full charged off amount. Just got the results back today and it says "account updated to report as paid in full". The report dated 7/16 shows (1)30, (1)60, (3)90 with a status of R9 and a balance of $0. The date of last activity is 4/02, even though the account was paid last month. So... should she call Equifax up to argue that it can't be a chargeoff if there's a zero balance? The risk is that if they contact Cap1 (again), they could correct the DOLA to 6/03 as well as correcting the 50% settlement status... Ideas?
Paying an account after chargeoff does not change the DOLA. You can always try that chargeoff/-0- balance argument, but I don't believe that duck will fly. It can report that way. This is why a paid chargeoff never helps you score-wise, and we try to negotiate for deletion
It'd have been great if she could have gotten a deletion, but that doesn't fly with cap1... I did a lot of looking around here for her & from all reports, the best they'll go is r5, but she couldn't even get that.
