here's the deal: i had my MBNA and discover cards charged off 3 years ago. on my credit report they appeared as "charged off" under the payment status. MBNA turned my account over to Unifund collection agency and discover turned my account over to Asset Acceptance collection agency last year sometime and I now had these two agencies on my report as well. I paid off Unifund and Asset Acceptance and now the payment status for Asset Acceptance and Unifund on my credit report shows "Paid - Collection Account". I actually got the unifund collection off entirely by disputing it over and over. anyway, my problem is that even though i paid these collection agencies, my credit report still shows "Payment Status: Charge-off" for MBNA and Discover. this is a major issue because creditors still think i never paid MBNA or Discover because I paid the collection agencies rather than MBNA and Discover directly. i tried calling MBNA about this and i just got some kid on the phone who had no idea what i was talking about or what to do. how do i go about solving this??
i would validate the accounts, for its accuracy since you stated that you paid for it, they could report you as a paid charge off if you did pay them after they charged off the account, which that happens after the account goes over 180 days. at least paid charge off looks better than just charge off, because it wont count as bad the older it gets. how long ago did you pay them off also when was the last time they reported you, do you have proof of payment? do they report you charge off every month or just one time? good luck.
ok so no one is responding so i guess you dont know what i am talking about. let me spell it out clearer: this is what my credit report looked like 3 years ago: MBNA payment status: charged-off Discover Payment status: charged off this is what is looked like last year after they sold the accounts to the collection agencies: MBNA payment status: charged-off Discover Payment status: charged off Unifund Account Number: MBNA status: collection account Asset Acceptance Account Number: Discover Status: collection account i paid off asset acceptance and unifund so this is what my credit report looks like now: MBNA payment status: charged-off Discover Payment status: charged off Unifund Account Number: MBNA status: PAID - collection account Asset Acceptance Account Number: Discover Status: PAID - collection account As you can see, my MBNA and Discover remained unchanged so lenders still think i did not pay them. how do i fix this????
debt validate the original creditor, and dispute it with the cra since its paid off , do you have proof of payment if not contact the collection agency to send you a letter stating the account has been paid in full as of the date you paid them , when you receive letter send a copy to the orginal creditor and credit report agency that is reporting the inaccurate information, and that should take care of it, you probably want to communicate with ontrack regarding your issue, he sounds to have alot of knowledge regarding these issue.
Even when the account is PAID, it still was CHARGED OFF... IF the account was assigned to the CA for collection, then the OC should be at least notified of that; and it could ONLY be changed to being a PCO - PAID CHARGE OFF. That is as good as the listing can get, usually. BUT and PCO affect the score about the same. IF the account was TRANSFERRED OR SOLD to the CA; the OC is out of the loop; but the account should have a ZERO BALANCE; CHARGE OFF; TRANSFERRED OR SOLD notation. Unifund typically PURCHASES so the OC is usually out of the loop once the account is sold to them (or who bought it before them). Same with A$$ET Acceptance.
IF there is an account which needs to see that the account has been paid off; then you can provide the proof of payment to them so that they can consider that with your application. Typically, except for mortgages, the PAID or UNPAID status of the individual accounts don't matter, since the SCORE is the same. Most of the time the credit review is nothing more than "Their score is XXX; (yes, we'll give them an account) (no, we won't give them an account))" If the creditor is doing a manual review, you can provide the documentation to prove that it has been paid.
