I have an account that was charged off in 12/95. The company then got a judgment against me in 1996 for $2300. The original account was showing on my report as being over $5000 now after all the interest. In Feb of this year, I reached a settlement for $2400. How long does the company have to update my reports? They have not been updated yet and I sent payment on 2/26/02. They told me within 90 days. Is it 90 or 30? They did update the amount on the account in March to a little over $3000 (my payment subtracted from the balance after all the interest), bit it does not say paid, and the judgement does not say satisfied. I am just wondering what to do. I have not disputed this yet because I was thinking I would give them the 90 days (5/26/02) and see if they update it. If not I figure I may have leverage to get them to delete it. Please give me any advice you can. I am sort of hoping they screw themselves, or maybe already have. Thanks!! Dan
I think they probably consider the updated amount to be the correct "update" - you still owe the balance, in their opinion. And, if the interest they've charged you was within the limits set by your state law, they're right. What were the terms of the settlement? Did you get anything different in writing?
I have a letter stating that I paid it and no longer owe them anything. The judgment is still not showing satisfied though and the "Recent Payment" section under the actual charged-off account listing is saying "N/A". The only thing that changed is the amount. Dan
