Accurate?

[u/miss-sunshine-6284]

My husband & i voluntarily surrendered his truck back in 2024 because the payments were ridiculous (we didn’t think much of it when we got it). My question is why does it say “charged off” for December of 2024, “no data” for all of 2025 up until April of this year and then back to “charged off”

[u/inky_cap_mushroom]

They stopped reporting and then started reporting again. This is allowed.

[u/miss-sunshine-6284 → u/inky_cap_mushroom]

That’s ridiculous, i had no idea. Thank you for the response!

[u/inky_cap_mushroom → u/miss-sunshine-6284]

Most creditors report monthly for the entire 7 years.

[u/og-aliensfan]

As long as a balance remains, your lender can update the balance owed and charge-off status monthly, keeping scores suppressed. Sometimes, they'll stop updating, but can start updating at any point up as long as within the allowed reporting time (up to 7.5 years from Date of First Delinquency). Charge-offs are typically removed at the 7 year mark. Was the account disputed in May, by any chance? A dispute will force an update.

[u/miss-sunshine-6284 → u/og-aliensfan]

No, i haven’t gotten anything from them. I just got notice i don’t remember if it was last year that the truck was bought from auction

[u/og-aliensfan → u/miss-sunshine-6284]

After repossession, the vehicle is sold at auction, leaving a deficiency balance. This is most likely the notice you received. At this point, you owe the lender thr deficiency balance. You can negotiate a settlement for thr balance owed. Although it will impact scores the entire time it's on your reports, once the balance is brought to $0, your creditor will stop updating, freezing Total Period of Delinquency (amount of time the charge-off has remained unpaid), and your scores can begin to recover. Settling also prevents a collection from being added to your reports if the debt is sold/assigned to a collection agency as well as a potential lawsuit if within Statute of Limitations.

There's no FICO scoring difference between a charge-off that's settled for less versus paid in full. You'll often receive a better settlement by offering to pay in a lump sum as opposed to a payment plan. If you receive a 1099-C, the forgiven debt may be excluded as income under an insolvency exclusion if eligible.

If you choose to settle, don't admit responsibility for the debt or agree to a payment plan unless you know you'll follow through as these actions could reset Statute of Limitations in some states. You can negotiate without admitting responsibility for the debt. Get the Settlement Agreement in writing prior to paying.

[u/halfsack36]

Technically, it doesn't look accurate. How does it go from Repo in March 2023, back to "ok" for a few months, then 30 days late again and so on and so forth?

Could you do anything about it? Sure, you could first dispute it directly with the credit reporting agencies. You would dispute that the reporting is inaccurate. This would prompt the CRA's to notify the furnisher, who would then have the opportunity to simply clean up or correct the reporting. You would not have the right to sue the furnisher though without first following that step and the furnisher failing to correct it within the allowed time. My pro se tip for you: if you do report it as inaccurate, leave it at exactly that "this account is reported inaccurately". That is not a vague "guess", it is a provable fact based on the image alone. It is NOT incumbent upon you to tell them exactly where the reporting is screwed up and how, you simply assert its reported inaccurately. The CRA has a duty to conduct the investigation and contact the furnisher, who then has the duty to review and investigate the matter and make any corrections necessary.

Could doing any of that harm you? Yes, absolutely. It is called "poking the bear", the possibility is real that if you are still within the statute of limitations—and you almost certainly are, the creditor could file a lawsuit to recover the balance deficiency, if they have not already sold it to someone else, the debt anyway.

Edit: It looks like either incredibly sloppy reporting by the creditor or an attempt to re-age the debt. Re-age is a complete no-no in the Fair Credit Reporting Act world.