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dahvidrichardson

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Charge-Off now Collection 6 Years Later?
Back in 2011, I was unaware and being so young on what I was signing as a joint account and has come back to haunt me. I ended up having a Care Credit Card and it ended up becoming a Charge Off. The account was opened on March 8, 2011. It became closed on Mar 21, 2014 as a "Charge off as bad debt, Purchased by another lender." Carrying a balance of $5,200.

If I remember correctly, a charge off comes off after 7 years?

Now out of nowhere, as I'm making huge strides of improving my credit, I reached a credit score of 730, I go to do my routine credit check and it drops a near 58 points. So I go to look and it shows "Collection" and holds a balance of $3,792 and was opened Mar 31, 2017 and last reported May 6th, 2017. Remarks as "Placed for collection".

Is this a case of "Double Jeopardy?"

I'm really feeling uneasy at the moment. I was really preparing and hoping to refinance my car and reconsolidate my student loans to help lower both of my payments and now I feel as if this will make it nearly impossible to overcome.

What do I do? I really want to get this collection off of my credit score and get my score back up again,. Any help would be greatly be appreciated.

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Since you recently joined our site, I strongly advise doing as I did and reading the articles here, with special emphasis on the Statute of Limitations on Collections and negotiating a 'pay for delete' (which you would only use if the debt is still legally collectable. Then you might have some specific questions you can ask here or you just may find the information needed to get this situation resolved quickly.

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