Providian charged off my account and closed it. Credit report from 1/2003 states "Charged Off Account Closed by Creditor Grantor. I thought that a closed account was one that had to be paid off to be considered closed. Anyone know about this??? On this same credit report shows two year history (Equifax) with little "ok's" highlighted from Dec. 2001 to Dec 2002. Does this show that payments were made on this account, because I didn't make these payments. Then on credit report from TransUnion that I ran 12/2003, it shows Providian listed as Status: Collection/Charge Off. Under Remarks: Charged off as bad debt, cancelled by Creditor grantor. What does this mean??? I'm also a little confused about date of last activity - I read that date of last activity is the date a payment was made to bring account current?? Is this right? Please help - this is all so very confusing.
This one piece open/closed is very simple. Closed just means that they are no longer playing ball with you. They took their ball and went home. If it's a revolving account (like a cc) it means that the account is closed to further debt. Either the debtor or creditor can choose to close an account, and it's duly noted on the CR.
