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So, I had 2 credit cards from when I was 18 that was supposed to be taken care of by my mom. Well...things didn't work out and they both went into collections. When I was 20, I paid one off in full for Capital One. It had went to the The Law Office of John P. Frye, P.C. That entire year I hadn't gotten anything back from him nor did I ever check my credit.

This past May, I paid off the First Financial credit card in full. I'm 21 one now, and I want to have better credit to live a better life.

So my dilemma. I got credit reports in my hand and I don't understand if both accounts are considered good and closed or not. I've tried to research a lot on this, but I just don't get it. Here's what they says.

[color=Red]Capitol One: ACCT BALANCE: 0


ACCT BALANCE: 509 [TU] 593 [EX] 509 [EQ]
REMARKS: [transunion] Charged off as bad debt. Purchased by another lender. [experian] Purchased by another lendor. Unpaid balance reported as a loss by credit grantor. [equifax] Account transferred or sold. Charged off account.

So this one gave me a whole lot of information, but the account balances are all different. I wish they can keep it all simple because now I'm confused. I want to know if the remarks mean that it's closed and done regardless of the balance? Does that high balance mean I can't move forward, or are they just not ready to put it to zero?

[color=Red]1st Financial: ACCT BALANCE: 375


REMARKS: [transunion]Charged off as bad debt. Settled - less than full balance. [experian] account legally paid in fullfor less than the full balance. Unpaid balance reported as a loss by credit grantor. [equifax] Settlement accepted on this account. Closed or paid acount/zero balance.

I like to get things straighforward without any if, ands, buts. This account has contradicting info to me. UNLESS the account balance doesn't matter, fine. But, I don't know whether or not it doesn't matter. All I know is that I see a high balance and a bunch or remarks saying it's closed with zero balance all in the same page. It's confusing.

I know i gave you all a lot of info, but what do you guys think about this? :?:

Is this from a Trucredit 3-in-1? They are not always accurate. Have you pulled your reports from th e3 CRA's individually via ? Regardless, if you paid them both off in full, dispute both with all 3 CRA's as "mutliple inaccuracies". The OC's will either update with the correct information or will "verify" with the CRA's that the information is accurate. If they verify and do not update the tradelines with accurate information, request an investigation with Cap1 and 1st Financial under sec 623 of the FCRA. They are required to respond w/in 30 days.

Sub: #1 posted on Mon, 07/28/2008 - 02:34

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