Posted on: 05th Jul, 2012 11:38 pm
I have 2 separate loans with a local credit union, one charged off personal loan and one paid in full auto loan. The auto loan showed one 30 day late so I contacted the credit union to ask if they would clear it. Their response was for me to dispute it with the cra and they would fix it. did and it came back as a charge off with a $0 balance. I notified both the cra and the cu of what had happened the cra told me there would be no change that it was up to the oc. the cu now has it listed as a paid charge off. I want to pay the one that is actually a charge off but not till they fix the other. I know this isnt right. the have already cost me a mortgage. What should I do?
Welcome Bendit,
If the auto loan is paid off, then the lender can't report it as charged off. They need to update the correct status of the account in your credit report. If the credit bureaus and the original creditor does not update the correct status, contact an attorney and check out if you can take any legal actions against them.
If the auto loan is paid off, then the lender can't report it as charged off. They need to update the correct status of the account in your credit report. If the credit bureaus and the original creditor does not update the correct status, contact an attorney and check out if you can take any legal actions against them.