Chargeoff With No Late Payments?

Is it possible to have no late payments and still have a chargeoff with a creditor. Isn’t that considered to be reporting incorrectly. Afterall how can one have no late payments and a chargeoff?? What type of letter can one send to get this corrected? please help!!!

thankyou!!

Diane

———

Hi Diane,

It is possible if it is an account such as a phone bill, or utility bill, or close bank account with a negative balance.  If they weren’t reporting your payments on time every month then they shouldn’t be reporting you as late either.  They are typically geared towards installment account or accounts with revolving balances.

I would recommend you write an effective dispute letter to the bureaus reporting this derogatory and state how it is inaccurate, unverifiable, and I would also recommend stating the particular laws that address your situation, or hire a reputable credit repair company (like mine).

I hope this helps,

Brian C. Aber
Senior Account Executive – HTDI Financial
Charter Board Member – National Association of Credit Services Organizations
brian@htdifinancial.com
877-877-4834 x704