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Question By
Chikasie

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Paid Charge Off Removal
I'm trying to improve my credit before I graduate. I took out a credit card about 2.5 years ago and mostly used it for school related stuff (books, supplies, food, etc) but I didn't have a very stable campus job and got behind on paying it off. Every time I'd make a payment, late fees would bump it right back to where it had been.
It got sent to collections, I paid it off in about 6 months and now it has a "paid charge off" and "paid after sent to collections" on my reports. And I want to see if there's anyway to get that removed. I (now) know by paying it I've lost all my leverage.
From my research I believe my options are a goodwill letter to Citi or disputing errors and hoping for a deletion. Now the "highest balance" on my Trans Union and Equifax reports are different (by about $10 lol), is it worth it to dispute this? And if it is, should I dispute via snail mail or online? Lastly, if Equifax deletes the entry will trans union just follow suit even though I didn't dispute with them? And in writing my goodwill letter is there a person I specifically need to send it to?

Thanks!

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Top Contributor
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Generally the goodwill letters need to be send to the higher up, Google it's CEO's name/address/email address, no, the CEO won't get back to you personally, but someone in the exc office might, be persistent if you hoping for positive outcome, send it multiple times, won't hurt you any.

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Now days it matters little how you send disputes, one way won't have better chance than other. Freel free to dispute how you see fit, instead of remove it? they might just update it to the "correct" informations. No, one bureau don't follow another when comes to removing disputes.

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Do you have two separate entries? One charge-off from original credit and one collection? "Paid Charge-off" don't usually go together, once it reported as charged-off, the original creditor usually can't change the status of it due to the tax consequences, they either sold it to collection or written it off as profit loss.

Reply by
Chikasie

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Thanks for your reply! On both my reports it's just one entry saying "paid charge off" or "paid after sent to collections" I think I'll try to dispute it first and then send the goodwill letter if that doesn't work.

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