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confused4321

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Is the original Charged off account affecting my credit?
I had a credit card in 2010 that was Charged off as a bad debt and purchased by a collection agency. About a year later I ended up paying it off with the collection agency that had purchased it. The original creditor is still listed on my credit report, the debt is listed as Closed-Derogatory $0 balance, and also listed is the collection agency (which lists the debt as paid), so the same debt was negatively listed twice on my report. Is it possible to have the original debt removed, it's just odd that they're both on my report making it appear that it's for 2 different delinquent accounts when it's really the same account.

Also, is the original creditor still negatively affecting my credit, it does say that the account is Closed w/ $0 balance, but only because it was Charged off and sold.

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The original charged-off account and the collection account associated with it will both remain on your credit for seven years from the DOFD date on the original account. The DOFD is "date of first delinquency" which means the starting time at which your account became delinquent that led to the charge off. Easy way to figure out what the DOFD is, is find when you last payment was made and figure the month following that was the beginning of the seven year reporting time period.

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Do some reading about "Early Exclusion". Transunion will sometimes remove accounts six months prior to the seven year mark and Equifax & Experian will sometimes remove three months prior to the seven year mark.

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It is absolutely normal and legal for both accounts to be listed on your reports. They both will cause damage as long as they are on your reports, but the damage subsides over time.

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I forgot to add, do some reading on "Goodwill Letters". It may work with the collection company, probably not the original lender though.

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