I'm new to all these credit dispute process. I just got a copy of my credit report and to my surprise I find out that there is a charge off from Premier Bank Card. I closed this account in 2004, paid it off in full and requested the Bank to close the account. I cut up the card and never received another bill from the creditor that I recall. Four years later I find out that the account had indeed been closed, but due to a "Charge Off to a bad debt" and it read there is a ZERO Dollar balance. I don't know allot about this, but to me if there is a "Zero Balance" why would it be listed as "Charged Off?" My question is, What would be the best way to go about disputing this? Should I send a letter to the OC and request verification and asked them to remove this from my report since this was paid off in full, Should I dispute it through the CRA first and explain the situation and request them to remove it? There is also a collection account from Verizon Wireless. This account is due to fall off in October I think, that is if I'm reading this right. It says that it was opened 12/200 and last prior delinquency report was 3/2008?? I have no idea why this would go so long and then they update this. It is on Equifax and Experian and neither of them say the same thing other that the dates they were reported. The amount is different and one of them says "monthly payment $20.00" I don't know about you, but I have never had a $20.00 a month cell phone bill. If anyone would be so kind as to give me a little heads up on the best way to go about getting these off my credit report, it would be greatly appreciated. Thank you: Tim
The Premier Bank Card tradeline will show a 0 balance if it was charged off. Charge off is a simple accounting term, it's the point at which the creditor writes off the account balance as a "bad debt." If the tradeline does not show paid charge off, then you should dispute it to reflect the proper status, it will not be removed, just updated.
When did you pay it off and who did you pay? This is the way it is done. Date of CO? On all three cr the tl is there,but different? What about account numbers? I would dispute this with cra, as to payment date account type. Do not write *not mine* just dispute the obvious. Good luck Woofer
