Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
chargeoffhelp

0 Contributions
0 People Helped
Charge off shows utilization and available balance
I have a card that shows as Charge Off, which is correct. However, it shows with a utilization and available balance, which isn't correct. Since the card is closed and charged off, I have no available balance. I tried submitting a request for correction, but nothing actually changed on my credit report.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
227 Contributions
90 People Helped

Helpful to 0 out of 1 people

it hasn't changed because it's correct. the account is charged off, but you still owe them the money! it doesn't just disappear because it's been charged off. it will show in your balances and utilization until it is either paid or falls off after 7 years. a charged off account just means their expectation for collection is low. and they have charged it against their profit and loss. it doesn't mean you don't still owe the money. they can still collect. they can still sell to a collection agency, and they can still report the balance to credit agencies. 

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.