Utterly confused about my credit report
Date: Fri, 07/26/2013 - 04:50
I have obtained a copy of my credit report recently. The status of an account is “charged-off”. The balance is $7500. However, the same account is showing as “past due” with a balance of $4500. How can the total balance be past due? The account has been charged-off. I am totally confused. I have another credit account with a bank in Gilroy, CA. The balance in the account was $30,000 in May 2013. Now, suddenly, the balance has dropped to $25,500. I have always heard that balance increases from time to time. How come the balance has dropped?
