GE Capital Charge-Off Status - Post Bankruptcy

All, Got an alert today from my ProtectMyID credit monitoring that three items have been added to my report that are potentially negative. I took a look and noticed that three of the accounts on my EX CR (those funded by GECRB - Care Credit / Toys R Us / Lowe's Hardware) now show in the payment history with a code of CO (Charge Off) starting with this month. The account still shows a zero balance and that it was discharged in a Ch. 7 BK.
I assume this is normal? Again, only on my EX report since the other two have deleted all previous payment history. Thank you! Regards,Daniel

QFJFKSYD wrote:
I have a situation like that on my EX report. Ch13 in my case feb2013 discharge. Feb2013 shows as a collection/charge off on the myfico report. When I go to the actual report on experian which i have through disputes on other items, it does not show this. Since EX is a fako on myfico, i am thinking it is possible myfico is just wrong. Since the actual ex report doesn't show this in my case. Might be something to look at in your case as well.EX on myFICO is a Fico score. myFICO does not have fako scores. Any third party credit report is not accurate at all, even myFICO. Always go through www.annualcreditreport.com to see your actual credit reports.

Similar Messages

Eligibility for auto title after charge off

Looking for some info on this here prior to moving forward with any next steps I take. Not looking for any illegal or loophole way to screw my previous financing obligation, just honest info. Back in 2001 I purchased a vehicle under Cap One Auto. After about two years of current payments I hit a block in my finances after a job loss. Needless to say I quickly lost the ability to continue paying on the vehicle. Before I knew it, I was in over my head in debt on the vehicle. The vehicle was never reposessed but my creit was obviously impacted with a charge off status for the loan. The car has never been in hiding and I have never attempted to weasel my way out of any of it. The vehicle is 14 years old now and the charge off was recently dropped from my credit report 6-12 months back. I am in a much better place now, financially speaking, and much more responsible with my finances. I have no intent on keeping the vehicle for the rest of my life but I am not sure what options I have as far as whether or not I would even be able to obtain the title for the vehicle. As far as I can remember, I believe the remaining balance was about 6-8k. I live in California and would like to move forward from this vehicle but I would hate to have the charge off or any negative reporting reappear from trying to inquire on information or even title for the vehicle. While I would hate to have to pay the 6-8k on this, I completely understand my obligation to pay, but at the same time if I am able to settle for a lesser amount or other option, I would gladly do so. My main concern is with having any negative or chargeoff reporting reappear on my credit.

user_2000 wrote:
Looking for some info on this here prior to moving forward with any next steps I take. Not looking for any illegal or loophole way to screw my previous financing obligation, just honest info. Back in 2001 I purchased a vehicle under Cap One Auto. After about two years of current payments I hit a block in my finances after a job loss. Needless to say I quickly lost the ability to continue paying on the vehicle. Before I knew it, I was in over my head in debt on the vehicle. The vehicle was never reposessed but my creit was obviously impacted with a charge off status for the loan. The car has never been in hiding and I have never attempted to weasel my way out of any of it. The vehicle is 14 years old now and the charge off was recently dropped from my credit report 6-12 months back. I am in a much better place now, financially speaking, and much more responsible with my finances. I have no intent on keeping the vehicle for the rest of my life but I am not sure what options I have as far as whether or not I would even be able to obtain the title for the vehicle. As far as I can remember, I believe the remaining balance was about 6-8k. I live in California and would like to move forward from this vehicle but I would hate to have the charge off or any negative reporting reappear from trying to inquire on information or even title for the vehicle. While I would hate to have to pay the 6-8k on this, I completely understand my obligation to pay, but at the same time if I am able to settle for a lesser amount or other option, I would gladly do so. My main concern is with having any negative or chargeoff reporting reappear on my credit. Your first step is to contact CA DMV as to the status of the title. Even though the loan is over 14 years old and CAP ONE has charged off the loan, it's a safe bet it's still recorded on your title. Chances are also that if you or CAP ONE are no longer in possession of the title, you're going to need a lien release before CA DMV will let you apply for a duplicate. They will advise you as to what can be done to have the lien removed because of age, but again chances are you're going to have to contact CAP ONE if not directly, through certified mail. I can't give any advice on how contacting CAP ONE would impact your credit history or whether it may restart the SOL clock, but IMHO sooner or later you're going to have to talk to them. Hoping you have positive results.

Post Bankruptcy Charges with no proof or reasons provided

I recieved a charge on my bill called post Bankruptcy charges for 48.00 . I never recieved any notification of said charges , There is no break down of why theses charges have been applied , I then called and was told it was for payments being missed in August but somehow I am unable to view payment history for august or september , My bank statements say dfferent .I want this resolved . I have posted here emailed and sent written notification.
<Attachment removed for containing personal information per the Verizon Wireless Terms of Service.>
Message was edited by: Verizon Moderator

I HAVE !
From: Verizon Wireless Customer Support
Sent: Tuesday, January 15, 2013 12:53 PM
To: <Full name removed for privacy per the ToS>
Subject: Re: Post Bankruptcy Charges with no proof or reasons provided - Re: Post Bankruptcy Charges with no proof or reasons provided
Re: Post Bankruptcy Charges with no proof or reasons provided
created by Verizon Wireless Customer Support in My Verizon - View the full discussion
Message was edited by: Verizon Moderator

Advise on how to remove paid charge off

Looking for any advice on the best way of handeling this. I have a old paid charge off on my credit report that is scheduled to drop off in early 2016. I would love to get this removed early, but not sure if it is worth it. Is it really affecting my credit score at this point? I have read in several forums that when older than 48 mos it doesnt factor much into score. Is writting a goodwill letter to the original creditor the best way to go to get it removed? If I do send one to the OC do I have to send one to the collection agency as well to have them remove it also? If I sent a gw letter could there be any negative consequences? If they dont remove it, could they update the most recent activity date, since I contacted them? I know I posted alot of questions- any help is greatly appreciated.

jeeptrailmaster wrote:
Looking for any advice on the best way of handeling this. I have a old paid charge off on my credit report that is scheduled to drop off in early 2016. I would love to get this removed early, but not sure if it is worth it. Is it really affecting my credit score at this point? I have read in several forums that when older than 48 mos it doesnt factor much into score. Is writting a goodwill letter to the original creditor the best way to go to get it removed? If I do send one to the OC do I have to send one to the collection agency as well to have them remove it also? If I sent a gw letter could there be any negative consequences? If they dont remove it, could they update the most recent activity date, since I contacted them? I know I posted alot of questions- any help is greatly appreciated.A CO always affects your Fico the entire time its on file, the ding lessens with age once it stops monthly updating. Sometimes a creditor interprets a GW letter as a dispute and will update the TL brining the account status date current and it can affect the Fico score if that happens. One should avoid all references to disputes in a GW. Since this is coming off in early 2016 you may choose just to wait and ask for early exclusion 6 months out on TU and 3 months out on the other 2 CRAs. Your choice, sending PFDs, GWs or any other letter is always a calculated risk. Welcome to My Fico

Error: Reason codes with automatic charge-off are not permitted here(F-28)

Hi All
I creted a reason code in obxl t-code and assigned a gl code in OBXL transaction code, But when I am trying to clear a payment with reason code in F-28, System is throwing the following error..Can some one tell me why i am getting this error?
Reason codes with automatic charge-off are not permitted here
Message no. F5605
Diagnosis
The reason code entered is designed to ensure that the payment difference amount is posted to an account specially set up for this purpose. Postings of this nature usually require additional specifications (e.g. tax code, business area). If the difference stems from a single open item, the necessary specifications can be taken from that item. In the case that led to this error message, however, the difference does not stem soley from one item, which means that this method cannot be used.
System Response
The reason code entered is not accepted.
Procedure
You can either select a different reason code, which would create a new open item for the customer or vendor OR write off the difference using the function Charge off diff.. This function either takes you into a pre-configured account assignment model or into the document overview. From here you can enter the required difference postings.

Hi Venkata,
It seems while entering the payment (partial payment / residual items) ... you are clearing multiple items with differences. (e.g. if the difference amount is $30, then may the difference consists of two invoices underpaid by $15 each). In this scenario, F-28 doesn't know which additional account assignment fields should be picked up ... hence the error.
First of all, to validate that this indeed is the case, try clearing a payment with the same reason code where difference can be attributed to a single invoice. If you still get an error, then there is some other problem.
Then, to take care of a the business scenario where the difference can indeed be due to multiple documents, select "charge off difference" option and create an entry to post the difference as necessary.
HTH,
Manish Patel
Sr. SAP Solutions Consultant

T code F-44 - Tab " Charge Off Diff " - Balancing field "Profit Center" in

Hi Gurus,
Some vendor account has small CREDIT balances ( ignorable value line 0.50 paise, 0.15 paise ) which needs to be transferred to profit & loss account.
Advised client to Use F-44 and tab "Charge Off Diff".
While saving the entry, System throws a below error :-
Balancing field "Profit Center" in line item 002 not filled
Message no. GLT2201
Then, I assigned a default profit center on VENDOR RECON account ( T code 3KEH ).
But, still system throws a same error.
Pl guide
Tks in advance
tks / Devi Aparna...

Dear Nkonnipati,
Have a GL - Payment Diff a/c - 679999 which is assigned in FBKP already.   But, have not ticked the 'Post Automatically only".
Tried to clear Vendor manually using F-44.   Facing the above said error.
After getting your reply,   have ticked " Post Automatically only " and tried to clear.
Got the below entry while stimulation.
    PK BusA Acct                               INR   Amount        Tax amnt
001 34 TN99 0000002420 VISHVADEVI ENGINEE             0.13-
002 27 TN99 0000002420 VISHVADEVI ENGINEE             0.13
Here also i got the same Profit Center Issue error.
But the GL - Payment Diff a/c - 679999 not selected...
Where i am mistaken. Pl guide.
tks / Dhamo

Charge off difference whening clearing customer open item with bank receipt

Hi,
Our company users will use F-32 to clear customer open item with bank receipt, sometimes, our invoice is 100 RMB issue to customer, the customer finally pay 99.98, then in F-32, we use charge off difference to post 0.02 difference to a account.
The user then want to control this, saying for example, if the customer pay only 90, whening using charge off differnce, the system will pop up a error message.
Can this be done in SAP, or we need to use user exit, then which user exit?
Thanks.

Dear,
This is done through customer tolerance group using transaction OBA3. Here enter the maximum amount in Loss under the Permitted Payment Differences. you are able to hold tolerance for customer clearing.
Is this what you wanted?
Regards,
Chintan Joshi.

F-28 - Line item for customer charge off difference is going to dummy PC

Hi
In F-28 when we are making partial payments to customer and charging off the difference to the same customer account. The Charge off customer line item is going to dummy profit center after doing F.5D and 1KEK.
Business dont want to use residual item option as they want to see the balance amount in the customer open item display.
We are using posting key 06 to charge off the same to the customer, and i changed the FSG as profit center required but in F-28 i cannot see the field of profit center and the amount is sitting in dummy profit center.
This is the problem.
Thanks
Kumar

Hi
When we raise a invoice Dr. Customer and Cr. Revenue and when we make customer payment the entry is Dr. Bank and Cr. Customer account so here the net entry will be Dr. Bank and Cr. Revenue.
When i do F.5D the balance sheet adjustments the profit center assigned to my bank account will go the customer account and regarding 1KEK only the open items of AR and AP will go the respective profit centers based on the revenue account and this revenue account which is a P&L account will not have any profit center assignment this account will get the profit center assignement from the cost account assignment if it is internal order then what is mentioned in the internal order that will be the profit center.
In my case when i am trying to post
Dr.Bank - 200
Cr. Customer 280
and Dr.Customer 80
So the net effect is Dr. Bank 200 and Cr. Customer 200 and gets cleared with the profit center assignend on the bank account. but the other line item entry Dr. Customer 80 has no offsetting entry like GL entry so this is sitting in dummy profit center.
Why i am doing this is
When we go to F-28 to make partial payments, after doing the partial payments we only want to see who much is open ( which is net that is invoice - partial payment) only against the document in the due course this is going to dummy as such customers will not have any profit center.
So is there any solution to solve the problem instead of going to dummy or is there any other process.
Thanks
Kumar

Nevada: SOL & Old Charge Off

Hey all, and pardon me in advance for my ignorance.
Long long time lurker, minimal poster.
I have a U.S. Bank C/O which was charged off in 12/2011.
On myfico it only shows my payment history back to 1/2010, in which it hasn't been paid. I left US BANK I'm sure in 2008/early2009 when I advanced my Career and switched to USAA.
My credit reports show an estimated "Fall Off" date as May 2016 for one bureau and July 2016 for another.
My question is, if the first date of delinquency is in fact within, 2009, with Nevada having a 6 year SOL, Shouldn't it be falling off of my reports this year in 2015?
I've been gearing up for a mortgage in early 2016 and going over my credit reports this was brought back up to my attention. Should I contact the OC and get the exact DOFD? The Credit bureaus? myFICO only goes back to 1/2010 and my last payment was before that date.
Any responses are appreciated.

SOL only determines how long you can be sued in court, no bearing on reporting. Report time is 7.5 years max for a charge off or collection.p

Charge off on Credit Report

I first opened my Fios account in 2011, while pursuing my college degree. This same year, my father, who had been helping me financially with tuition and expenses was diagnosed with a rare cancer known as Multiple Myeloma, and was no longer able to work as he had to undergo a bone marrow transplant and chemotherapy. Over the next year, without my father’s financial help, I became disorganized with respect to, as you saw, making timely payments with Fios. At the end of school, I cancelled my bill, and failed to pay my last bill. I fully recognize my responsibility with respect to payable accounts and have worked diligently to rehabilitate my relationship with Fios since that time. As you may see in my records, I have since paid the amount owed, and reopened an account which is currently in good standing
To be honest, those years were a "wake-up" call for me regarding fiscal organization. Since then I believe I have learned the essential organizational and financial management principles I desperately needed at that point. Thankfully, responsible credit management is now reflected in my credit records which -- excluding the paid charge off entry from Fios during my time of hardship -- are excellent. I wish to thank you for renewing your confidence in me and for giving me a second chance at a relationship with you, one that I am determined to keep spotless.
I am now, with my fiancé, about to shop for a mortgage, and refinance my car. It has come to my attention that the paid charge off from Fios, despite having been only $130, will preclude me from taking full advantage of the very lowest interest rates now available. The impact of a $130 mistake when I was in college, will likely cost me upwards of $50,000 over the course of the loan. Since those notations do not reflect my current status with Fios, I am requesting that you give me a second chance at a positive credit rating by removing that old trade line. I sincerely hope that there is redemption at Fios, and I beg you for such consideration. Please let me know if any additional documentation would assist in reaching a positive outcome, and I thank you again for the time you have spent reading this letter.

This is a peer to peer support forum. You need to contact Financial Services at Verizon to discuss your request.

Charge off finally gone--check out the huge score increase...

Experian finally excluded a CC charge off that was originally supposed to drop off in March. They moved it to June for some reason, and today it finally dropped off. How did that affect my score? +1 point. Only one CO left, and that's a Bank of America CO that was sold in 2009. According to reports from a big settlement in a NY Federal Court, BOA is going to remove any reporting for accounts they charged off and sold since May 2007. That's supposed to happen by this August. If that happens, I'll only have a small paid collection left on Experian and TU. Still waiting on a couple stragglers to drop from EQ in Sept. that are already off the others. Was hoping for a bigger score bump, but I'll take the psychological boost and one less thing for any manual reviewer to see.

asbinjax wrote:
asbinjax wrote:
crrredit wrote:
Experian finally excluded a CC charge off that was originally supposed to drop off in March. They moved it to June for some reason, and today it finally dropped off. How did that affect my score? +1 point. Only one CO left, and that's a Bank of America CO that was sold in 2009. According to reports from a big settlement in a NY Federal Court, BOA is going to remove any reporting for accounts they charged off and sold since May 2007. That's supposed to happen by this August. If that happens, I'll only have a small paid collection left on Experian and TU. Still waiting on a couple stragglers to drop from EQ in Sept. that are already off the others. Was hoping for a bigger score bump, but I'll take the psychological boost and one less thing for any manual reviewer to see.Do you have any more info on the NY Federal Court ruing about accounts COd since 2007? I am searching the net but nothing on it yet. Thanks i found the info - apparently it is pretty huge with chase, b of a, synchrony, citigroup, and others, but it only applies to the way ppl that were in bk were treated. here is one article i found:http://www.nytimes.com/2015/05/08/business/dealbook/bank-of-america-and-jpmorgan-chase-agree-to-erase-debts-from-credit-reports-after-bankruptcies.html?_r=0 sounds like good news for those that were in bk with those companies hth Read further down on that article: "Bank of America promised to go further, agreeing to fundamentally change the way the bank reports all the stale debts that are sold to financial firms. For all credit-card debts sold since May 2007, court records show, the bank will remove any marks on consumers’ credit reports. That way, a lawyer said, “should a previously sold credit card account go through a bankruptcy discharge,” the mark will already be gone." HOLY DROP OFF, BATMAN! And speak of the devil! The BOA Charge off just came off my Experian report!

Charge off being DELETED!!! Advice needed!

Hi all! So, I successfully received a EARLY DELETION as a Good Will from a student loan (private) that charged off in 2010 -- the lender finally agreed to remove this completely from my report today and submitted the electronic request to the bureaus today to delete it from my report and cosigners. This was a huge charge off and absolutely destroyed our credit 5 years ago ($25,000 charge off) - it docked us 75 points or so. Each! It was awful and my father wouldn't speak to me for months, as I defaulted and didn't tell him (young and dumb).
My question is -- once this comes off, even though it's 5 years old now, will it have any impact on my FICO or report as a whole ? My oldest account is from 2001 (13 years) and this account was opened in 2006, but I have many other accounts opened in 2003-2004 so I'm not too worried about AAofA. I do know eveytime a lender pulls my report for a manual review they note the massive charge off and it often hinders my approvals.
So any advice would be greatly appreciated. Also, the account was PIF after he charge off in 2010 by my father ($27,000) but they refused then to PFD or change status. Any advice would be appreciated ! My father is very happy to see it go, as his AAofA is 35-40 years !! Thank you all!

It doesn't make sense to me. I bought Essentials and it automatically upgraded Scorewatch to Fico 8. I called customer service and they couldn't even tell me how often my Fico score updates! It's not daily because it still reads 7-27. I am needing to look at score updates every couple days. I certainly don't see the value in $20 a month if it's not even updated? Or there's a big lag. What's the point? I asked for clarification but they couldn't explain. They said it's all "random." That MyFico Fico Scores only update once a week, they don't know what day, and it's random. I don't see the value of the product. Scorewatch seemed way better.

BOA Wrongly Charged Off Account, advice?

Hi all – Just wanted to get some advice on what you think the best course of action should be on a previously charged off BOA account (FYI, I paid in full last month so the account is completely closed now) As some backstory: 2014 Statement requires a $500+ payment due by 2/1/14 to bring account up to date1/31/14: One day before due date, I make the requested payment by phone1/31/14: Despite making the payment before due date, BOA charges off the account on the same dateBased on a closer review of the statements, it shows:My original Pay By Phone Payment posted on 1/31On that same day, BOA appears to have reversed that Pay By Phone so they could transfer the funds to the newly charged off account (which has a different acct number)The transferred payment posts to the charged off account on 2/1 (which they keep hinting that the 2/1 date makes the payment too late to avoid charge off)On my credit report, BOA ignored my January payment and counted January as 150 day late and February-onwards as CO. I called BOA today and after reviewing my case, the representative sent in a charge off reversal request but could not guarantee it would be approved. She also insisted my credit report would be “updated” appropriately. I pushed on this and stated I think the entire TL needs to be deleted as the history thereafter could never actually be accurate. Even if they removed the charge off, how could they genuinely say any reporting thereafter is a proper reflection of the account? She pushed back and just said we need to work on the Charge Off first and I should hear back by next week. My question to everyone here is, should I just let the internal BOA process sort this out and hope they delete the TL? Should I call back and escalate to a supervisor? Should I just bypass them altogether and submit a case to the CFPB/BBB/CRAs? Since this has been entirely over the phone, I’m also a little worried there’s not enough of a paper trail (which is why I was wondering if I should dispute via another source). Regardless, I do have copies of the statements as well as the 1/31 electronic check they cashed, and a June copy of my CRs showing how they ignored the Jan payment and marked Feb-on as CO. Any advice you guys can provide would be great, thanks!

A creditor does not report the date they do the actual accounting that constitutes a charge to profit and loss in their books.That is an internal business process for which actual dates need not be reported.When they report a charge-off, they report only that they have previously taken that measure.All that is required under the FCRA is that once they have reported a charge-off, they must also report the DOFD on their account within 90 days. It is unclear as to how, based on the posted scenario, that the consumer could determine that they wrongfully did a charge-off based only on the date paid vs the billing due date on their last bill.

Network Location Does Not Retain Airport On/Off Status

As noted in the following thread
http://discussions.apple.com/thread.jspa?messageID=8380527&#8380527
if you change a network Location, the Airport On/Off status is not retained with the Location. So if you have one location with Airport inactive and another with it active, switching to the location with Airport inactive turns off Airport, but switching back to the location with Airport active does not turn on Airport. This used to work correctly with the Location "remembering" the Airport on/off status prior to the Airport Extreme Update 2008-00. To work around this problem, I have written an AppleScript that changes both the location and turns on Airport. The location name in this script is "Home" though obviously can be easily changed. One can also add more code to enable DAVE Networking or to turn on/off Internet Sharing, etc. as I do in my own scripts.
(unfortunately tabs and spaces are removed in these posts, but you can copy/paste the following into Script Editor which will reformat appropriately)
-- turn Networking and Airport on
tell application "System Preferences"
activate
set current pane to pane "com.apple.preference.network"
end tell
tell application "System Events"
tell process "System Preferences"
-- delay 1
-- click menu item "Network" of menu "View" of menu bar 1
if my wait4window("Network") is false then return false
tell window "Network"
click pop up button 1
click menu item "Home" of menu 1 of pop up button 1
delay 2
if (exists window "Confirm Access to Keychain" of process "SecurityAgent" of application "System Events") then
click button "Always Allow" of group 1 of window "Confirm Access to Keychain" of process "SecurityAgent" of application "System Events"
-- delay is apparently not needed
end if
click button "Apply"
if my wait4window("Network") is false then return false -- window can be inaccessible for a time
if my wait4disabled(button "Apply") is false then return false
if (exists sheet 1) then
click button "OK" of sheet 1
end if
repeat with myrow in (rows of table "Services" of scroll area 1)
get value of static text of myrow as string
if (offset of "Airport" in result) is not 0 then
select myrow
if button "Turn AirPort On" of group 1 exists then
click button "Turn AirPort On" of group 1
repeat with i from 1 to 60
if button "Turn AirPort Off" of group 1 exists then exit repeat
delay 1
end repeat
if i ≥ 60 then return false
end if
exit repeat
end if
end repeat
end tell
end tell
end tell
ignoring application responses
tell application "System Preferences" to quit
end ignoring
on wait4window(this_title)
tell application "System Events"
tell process "System Preferences"
repeat with i from 1 to 60
if exists (window 1) then
if the name of window 1 is this_title then return true
end if
delay 1
end repeat
end tell
end tell
return false
end wait4window
on wait4disabled(this_object)
tell application "System Events"
tell process "System Preferences"
repeat with i from 1 to 60
if this_object is not enabled then return true
delay 1
end repeat
end tell
end tell
return false
end wait4disabled

NOTE: because leading spaces and tabs and also apparently dashes "-" (if the first character on a line) are stripped, the first line of the script above is incorrect. It is supposed to have two dashes to represent a comment as in "-- turn Networking and Airport on" so if you are cutting and pasting into Script Editor you'll need to either exclude that line or edit it after pasting.

Error Charge-off account determination

Hi,
When we trying to post incoming invoice with charge-off difference getting below error:
Account Determination is missing for ZDI
but in OBXL, setting are already existing based on reason codes.
Kidly let me know any step i am missing while positng incoming payment. We dont hv any reason code or tax code in invoice document.
Regards,
Venkat

hi
if u r facing same problem pls check t.code ob40
otherwise pls post error message
Thanks & regards
phaneendra

GE Capital Charge-Off Status - Post Bankruptcy

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