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Chase accepted a settlement for an outstanding debit for less than the owed amount on a charged-off account. However, they reported to the credit bureaus that I still have an outstanding balance even though they agreed to accept the settlement. I have reached settlements with Amex and BOA and they correctly reported the settlement to the credit bureaus. So now the debit has been re-aged and it shows that I still owe money to chase.
I have sent copies of the settlement agreement to the CRA's but they refuse to update my credit report. Any suggestions?
Have you tried filing a dispute on the debt? Do you have it in writing that they would consider it paid in full if you paid the settlement amount? If so then you should be able to send a copy of it to the credit reporting agencies and that should take care of it.
I really wish that there was an appeal process for when these credit reporting agencies refuse to change something that you can prove. It just seems like you get stopped dead in your tracks sometimes, seems unfair to me and should be another way to address it besides them.
Maybe file a complaint with your attorney generals office and see what they can do about it, they may be able to help you out. goodluck hope you get results soon.
You can write a dispute letter to Chase explaining that they are reporting your account incorrectly to the CRAs and send it cerified mail. Chase will then have to list your dispute letter with what they are reporting to the CRAs.
I also normally never suggest re-disputing items over and over again just in the hopes that the creditor will eventually cave in but in this case since your case is very legit I would dispute it again, and again, and again if necassary.