Chase Charge Off...fees charged..other questions.

[wdsman1]

I recently 623 disputed Chase after the 3 CRA's validated the dispute.

Chase sent me billing statements from 11/06, 12/06, and 1/07. On every statement there is a charge for Finance Charge, Late Fee, and Overlimit Fee.

I was under the assumption that OC's cannot charge any of these fees after an account has been "Charged Off". The account was being charged roughly $200 for a year in charge off status with fees and finance charges.

The original 30 days late was listed as 7/05 with Charge off in 1/2006.

1. Can I be charged all of the fees and interest after it is charged off? And if so why wouldn't a OC continue to add these fees until off the CR?

2. Wouldn't this account be scheduled to fall off my credit report in 2012, not 6/2013 as listed on CR?

3. Chase also says they have info on a POA from a debt settlement company I was previously using. This info was sent to me after verifying my 623 investigation. I sent them a letter asking for a copy of this and any other documents they have.

Any answers or advise? I do not have funds to PFD.

[Lian]

As for your DOFD, that is not always your date of first 30-day late.

If the account was delinquent, then brought into paid, good standing, and a new 30-day late occurred, the new 30-day late would reset the DOFD.

DOFD is the first delinquency in the last chain of delinquencies that immediately preceded the charge-off.

A CO is just an accounting procedure taken by the OC. It is an internal bookkeeping matter that so happens to be reportable to your CR.

Until the debt is paid, it can still continue to accrue whatever interest and fees that were specified in your account agreement. Perhaps they just did not do an account balance review until the time of CO, and then updated at that time. Nothing improper in that.

As for any power of attorney you may or may not have issued to a credit repair organization, what is its relevance? The only relevance I can think of is that a credit repair organization is not authorized to assist in your preparation or filing of a direct dispute under FCRA 623(a)(8).

However, since they have already responded to your direct dispute, that does not seem to now be relevant. Any clue as to their purpose in raising this issue?

[wdsman1]

I have no idea why they would raise the issue, I need to find a clever way to get this resolved. Unfortunately I do not have the funds to PFD.

[Lian]

Since Chase has apparently not even used the presence or absence of an asserted POA as a basis for any action they have taken, or even explained its relevance, then it would be, to me, a non-issue.

Let them raise its relevance. Since the POA has not been shown to be material in any way to the issues you disputed, I would ignore it until such time as they assert some relevancy. It is not up to you to have to guess at the meaning of their idle statement.

[wdsman1]

I just want to see exactly what they have. I'm looking for anything that might help in getting it off my CR. Chase has admitted not having a signed agreement for the account due to the age.

[wdsman1]

Well I received the copy of the POA from chase today. Any ideas?