Providian just verified an account with a cra that reports the account as a chargeoff after settlement. I know this cra won't investigate anymore, at least not without a big fight. Can Providian do this? After payment/settlement is made, don't they have to stop reporting it as a chargoff. Do you think I can sue them for this in small claims and hope for a settlement to delete? Help!
Yes, but don't they have to stop reporting it as a chargeoff after payment/settlement is made? For instance, the settlement is made and paid on 05/02. Yet Providian continues to report it as a chargeoff on these dates: Chargeoff as of: 08/02, 07/02, 06/02, 05/02, 04/02, 03/02, 02/02, 01/02, 12/01, 11/01, 10/01, 9/01, 08/01
The fact that you paid it is not going to make the I9 status (charge-off) go away. It happend and that is what is being reported. As long as they update the balance to $0 and show PAID AFTER CHARGEOFF or something similar, they are safe doing so.
