Verizon "charge off"
Date: Fri, 11/09/2012 - 09:59
Once I found what a "charge off" was defined as, I immediately called Verizon Accounting Dept. to dispute the information. After not getting anywhere with the Verizon representative, I spoke to a "supervisor" and he was able to find my account information. However, he could not find the $203 amount that was "charged off". I was delinquent one month 06/2009, but I paid the delinquent amount and my account was brought up to date. He confirmed that I closed the account in 12/2009, payments were up to date, all of the equipment was returned and the final bill was paid 02/2010 and no amount was owed after. I then asked why is there is an amount listed as a charge off, and he stated that he HAD NO RECORD OF AN AMOUNT being charged off. I told him I wanted that charge off removed from my account and he refused. He explained that Verizon list all delinquent accounts as a charge off, even if that account is brought up to date. He stated, "Verizon's policy reports DELINQUENCY(S) as a CHARGE OFF. Verizon views delinquent and charge off as having the same definition. Verizon guidelines only allow for the use of charge off for their credit reporting, not delinquent."
I disputed this information with Transunion, Experian and Equifax but all they did was confirm that their reports matched what Verizon had reported, NOT that the information reported was incorrect, and now my report shows not only a charge off, but "CO" for both 01/2010 and 02/2010.
I found that there are many others who have had this experience with Verizon. There has to be a way to deal with this type of false information. What other options do I have to dispute the charge off? Any suggestions would be greatly appreciated.
It would stay on your credit report for 7 years, nothing illegal
It would stay on your credit report for 7 years, nothing illegal about it. You missed a payment and they reported it.
Steve, again, you need to stop posting bad information on this f
Steve, again, you need to stop posting bad information on this forum.
There is a legal definition of "charge-off". Having one late payment does not fit that description. If the OP was late on one payment, but then paid it the next month, then Verizon did not even have to involve their contracted collection agency. Charging off a debt means they take it off their books--it becomes written off and discharged as uncollectible bad debt. This generally takes 6 months of non-payment to happen. The truth is that a late payment reported on your credit report affects your score less than a charge-off does.....nowadays most lenders would understand a late payment and not even give it a thought if you caught it up the next month. But a charge-off looks a lot worse and some lenders will deny you because of charge-offs.
Additionally, you were lied to by Verizon. This is not a case of them properly reporting a late payment amount, but just calling it a charge-off. They claimed a charge-off amount that is false, that even they know nothing about. So the guy's claim doesnt hold water.
