credit cards and collectors

Hi John,

In relation to your 1st debt, though it is true that it has been charged - off, it will have a bad effect on your credit report. Moreover they can hire a third party to harass you to pay the debt. So I believe it's better to pay off the debt.

In relation to the 3rd one, try and negotiate with the original creditor first. Tell them, you are willing to pay off but only if they contact the credit bureaus and ask them to remove any negative entries associated with the debt. Other than this, ask them to file a document with the court that will indicate the satisfaction of the judgment. This will show the debt as paid off on your credit report.

Thanks,

Aaron

Hello john,

I totally agree with what Aaron has said. I too believe that its better to pay off the debt. Though it has been reported as charged off, the creditors can harass you for the money. Moreover it will definitely have a negative effect on your credit score.

As for the second one, there should be no issues over it as it has already been settled but as for the third one try to contact the original creditor. Let them know that you are willing to pay the dues. Along with this request the creditor to remove this listing from your credit report. Also request them to let the court know about this, so that your credit report reflects "paid off", though I am afraid that the judgment will still be there on your credit report.

Thanks,

Sharon