Hi Hogc1
Charge off listing can never be removed from your credit report once the debt is sold to the collection agency. The only way to reduce its impact on your credit score is to ask the collection agency to remove the listing from "paid charge off" to "paid as agreed". However, if the debt is still with the original creditor, you can negotiate with the creditor for "pay for deletion" agreement to remove the listing from the credit report. If the original creditor agrees to "pay for deletion" agreement, get it in writing.
Yes, Anthony is correct. Normally a charge off listing can never be removed from your credit report and it stays there for seven years and lower your credit score by as much as 100 points. So you should always avoid charge off. Now since your debt has already been charged off, you should pay it off, because charge off does not mean that you are no longer liable for the debt. In fact, even after your account is charged off, the creditor can sue you to the court and bring judgment against you to recover the debt.
Hi Hogc1
Charge off listing can never be removed from your credit report once the debt is sold to the collection agency. The only way to reduce its impact on your credit score is to ask the collection agency to remove the listing from "paid charge off" to "paid as agreed". However, if the debt is still with the original creditor, you can negotiate with the creditor for "pay for deletion" agreement to remove the listing from the credit report. If the original creditor agrees to "pay for deletion" agreement, get it in writing.
Yes, Anthony is correct. Normally a charge off listing can never be removed from your credit report and it stays there for seven years and lower your credit score by as much as 100 points. So you should always avoid charge off. Now since your debt has already been charged off, you should pay it off, because charge off does not mean that you are no longer liable for the debt. In fact, even after your account is charged off, the creditor can sue you to the court and bring judgment against you to recover the debt.