One account two claims on credit report...

[CMSC]

What is the name of your state? Nebraska

This question is for my neighbor, so anything you need answers on it will be no problem to get soon.

She had a credit card back in 1999 and charged $500 on it. A few weeks after having it she went to use it and it said it was maxed out! She asked them why and they said with her daily interest her total bill was $1200! She did not charge that much.
She never paid it, disputed the charges with the company and never heard from them again. She pulled her credit report the other day and found that Providian (cc company) put the $1272 on her credit report and it says balance due $0, nothing overdue. Then there is a charge in 2001 for $1700+ for a credit collection agency. She called them and they told her it was for the providian card. THe $1700 is the $1272 plus interest. But it said again, $0 balance owed. Both items had "charged off" written on them.

Her question is, the credit report is listing these as two seperate items. IN order to clean up the report the collection company says she would have to pay them the $1700 but Providian would want her to pay them $1272. Who should get paid if anyone, it does say there is no balance due and the collection agency does not know why.


That was long I know. Summary is there is one debt and two strikes on credit report for a total of $2972 but it all says "charged off, balance due $0."...what should she do to get this all cleared up?

[bigun]

The SOL has run on this so, they can't legally sue her if the dates you provided are correct. CC's are open accounts.
[url]http://www.locate123.com/StateLaws.asp[/url]
The orginal creditor may continue to list a chargeoff if they transfer it to a 3rd party collector as long as it reads a zero balance. The collectors can then stick there tradeline on it as well.
Your friend needs to go to [url]www.creditboards.com[/url] and learn about credit repair. Read the FAQ's and stickies and start asking questions. Stop calli9ng the collection agency. Worse case, this comes off her report in 06.

[CMSC]

THanks for those links she looked at them and was very surprised to see the few things on her credit report she was going to pay off have reached the SOL.

So if nothing on the credit report ever gets paid, it will eventually go off of there? She said she has a bill from 1996 on there that is charged off, it is for $84...when does this come off the credit report?

I think she has learned to pay her bills, I would hope!

[bigun]

The 1996 stuff should have dropped off last year. Dispute with the CRA's as obsolete/out of date.
Here are a few FTC opinion letters on reporting.

[url]http://www.cardreport.com/laws/fcra/ftc-opinion/johnson.html[/url]

[url]http://www.cardreport.com/laws/fcra/ftc-opinion/johnson.html[/url]