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Question By
shrikantredd

10 Contributions
12 People Helped
Paid Charge off $22 (Twenty Two Dollars) Checking Account and Impact?
I had a checking account with the University of Kentucky Federal Credit Union. There was a balance of around $3 in it.

My discover card had the credit union checking account as a default payment method every month. I have made the payment on the last date (Say 30th) around 4 pm. But since this was the last date, discover assumed no payment received and tried to charge the checking account. The credit union has denied the payment and also charged $25 fee which brought my account to -$22. I wasn't aware of these things. It has come to my notice when I went to the credit union to make a different payment. I have immediately talked to the credit union representative and she waived the $25 fee.

But the credit union had already reported this as a 'Paid Charge Off' for $22 dollars. This is affecting my credit score or history despite my utilization at 52%.

I spoke to the credit union explaining the whole situation and requested to remove this entry from the credit report. But they are standing firm. How can I get this resolved? What would be the impact this since it is a paid charge off and also under $25.

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Top Contributor
1132 Contributions
1210 People Helped

This will remain on your file for 7 years....  You can write a letter to them and beg for them to remove it as it is hurting your file.... 50/50 chance they will do something....

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