Determined...
Date: Wed, 05/20/2009 - 19:04
I have some questions regarding my credit report: On one for example,
#1
*First Bank Of Delaware* (CC) and it says:
balance = $0.00
past due = $0.00
Credit limit = $300.00
Account Status = Charge Off
So, as far as this entry what do I do with this? I mean from what I see there is no balance or past due amount. So, will it just fall off in time or do I owe $$$ and since it says charge off why doesn't it indicate an amount? Should I dispute it or?
#2
Bank Of Hoven/Plains Commerce (CC)
Balance = $0.00
Past due= $0.00
Credit limit = $250.00
Account Status = Charge Off
#3
Arrow Financial/Plains Commerce (CC) (same as #2) I called and verified the account #’s and they are the same.
Balance = $238.00
Past due = $238.00
Credit Limit = $0.00
Account Status = Collection Account
Thank You!
Kelly
Once charged off the account should read as a $0 balance. It th
Once charged off the account should read as a $0 balance. It then gets sold to a collection agency who then may report the same account on your credit report.
So it looks as though Arrow Financial/Plains Commerce purchased your Bank Of Hoven/Plains Commerce account. So you are no longer dealing with Bank Of Hoven/Plains Commerce on this account but Arrow Financial. So you'll want to contact Arrow to settle/negotiate.
Once your original creditor charges off the amount, it will stay on your credit report 7 years + 180 days from the date you first stopped paying (when you went 30 days late). You can try to send a "goodwill" letter asking them to remove off your credit report. I have got a few of the smaller ones off this way. They usually reject your first request, so I would keep sending a request once a month and also keep disputing with the credit report agencies. Eventually the creditor gets tired of the back and forth and will delete the record; especially if it's a small amount that was owed.
Good Luck!
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