FCNB - MASTERTRUST Settled old charge off over 5 years ago, nothing late since, in fact it disappeared altogether from my CR, only to reappear today! ripoff NORCROSS Georgia
I had an account with FCNB from 1990, like the dumb college kid I was, I failed to make my payments and it was charged off. In 1999 when I tried to buy a house, it was required that it be payed, and it was.
The account showed as a paid charge off and remained on my CR for about a year then disappeared altogether. Today, over 5 years later, it reappeared showing 2003 as the charge off date, effectively adding several years to the time it will remain on my report.
Unfortunately, being that this just showed up, I am assuming that my current creditors will use this as a reason to increase the rates on my current credit cards.
Is there anything I can do about this? It has to be a violation of the FCRA.
Tim
Gilbert, Arizona
U.S.A.
1 Updates & Rebuttals
Jessica
Long Beach,California,
U.S.A.
It is a violation, Tim.
#2Consumer Comment
Tue, October 04, 2005
Tim,
What they are doing is a violation of the FCRA. Charged off accounts remain on the credit file (just like any other account except ones in bankruptcies) for 7 years from date of LAST ACTIVITY. Since technically your last activity was in 1999 when you paid it, it should be coming off your credit report next year. Do you have the proof of payment in 1999? Did you keep the collection letter and can you get a copy of that check? They probably sent you a notice of satisfaction, do you still have that? You can dispute it. It's possible what happened in 2003 is they just updated their info. Maybe another company bought out the one you owed the debt to and they updated the info with the CBR's. It's possible it will fall off next year. It's not supposed to be off any sooner than 2006. Good luck!