UnThreaded | Threaded | Whole Thread (13) | Ignore Thread Prev | Next
Author: mkery7 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 311073  
Subject: Just when you thought it was safe... Date: 2/16/2001 10:16 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Hello Fools,
Upon obtaining my annual credit report for a check-up, I was shocked to see my local phone company had listed one of my closed accounts as a "Collection Chargeoff", esentially saying they were unable to collect the balance owed and reported it as a loss. The balance in question - $83!!! The quick background on this: In July, I moved, naturally closing all utility accounts as I left my residence. Typically, you cannot close an account without paying the full balance, right? Thinking everything was all tied up, I never gave it another thought. Now I get hit with this derogatory statement on my CR, even though I never knew the balance existed!

I spoke with the phone company, and agreed to pay the balance immediately, but they told me I was unable to do anything about the derogatory "chargeoff" listed for the past FOUR MONTHS (but they reassured me it would be gone in seven years)! Seems to me, if I pay the balance, they cannot report it as a loss.

Do I have any gound to stand on here, or should I just take my lumps and move on?

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (13) | Ignore Thread Prev | Next


TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.