Charge off balance 0

How to listed an old charge off that only shows in 1 of the credits reports and said: balance 0 was a charge off? No show history of payments. I tried to contact the credit issuer but doesn’t have the information of the collection agency, and they told me the account is no longer collectable? I settled a few accounts years ago but I’m not sure of this one.

List what you can, disclaim what you can’t.

Quick question, The investigators will asked for proof of payment of the charges off even if in my credit reports showed 0 balance and remarks said paid in full?

Not quite sure I understand your question because charge offs and paid in full are not the same thing. Charge offs are still debt you have not satisfied.

Its showing as a 0 balance as the company has written it off as uncollectable. If it’s charged off, I’m guessing you won’t have proof of payment, as the debt was not paid. (it could be an error on the creditor’s part, but that is usually not the case)

I hope that helps a bit.

To answer what I think you are asking…you will still need to discuss the debt, how it came to be, what it was, any attempts at payments made, etc. If you do not know, then you do not know.

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Some people have gotten tripped up with “charge offs” because in many (if not all) cases these are treated as “income” and they failed to report it on a return and/or pay tax.

I’m not a tax advisor and I don’t pretend to be one, but see if you got some kind of 1099 form from the company that wrote off the debt.

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A charge means the collector or original creditor has stopped trying to collect the debt. The claim is you still owe the money, 0 is a placeholder, but they reported your delinquent debt as a loss.

Report what is in the credit report. If you honestly do not recall who/what the original creditor, list that in the comments section. This is a reportable delinquent debt for the clearance process.

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