hello and welcome, When a debt is written off and sold to a collection agency you can more than likely expect calls from the collection agency to start shortly after. Do you know how old this debt is? We should check to see if you are protected by your states statutes of limitation. This is different in each state. If you are not protected you may want to try and settle the debt so you do not end up in court or have harassing phone calls.
When you owe a debt to a creditor and the creditor is unable to collect the dues from you, he writes off that debt as his loss, and sells it to a collection agency. The collection agency then tries to collect the dues from you. When an account is thus handed over to a collection agency, it is reported as a charged off account on the credit report.
To remove this charge off, you can contact the collection agency(CA) and tell them that you wish to pay the dues, request them to agree to a pay-for-delete agreement. With this the CA will request the credit bureaus to delete the negative listing from your credit report. As a result, your report will show the debt as "paid in full" or "paid as settled" depending on how you want to pay the dues.
If you pay the full due amount, it will show as "paid in full", else if you settle for a less amount it will show "paid as settled".
Another thing about when they write off a debt is the government can come back at anytime and tax you on the written off aount. It would be considered an income. It does not always happen but it can so be aware of that fact.Good luck.
A company suide us we negotiated a settlement and paid it off, but they show the account as a charge off, was on a repo. car. How can i get it iff my credit report?
Hi,
My husband bought a car through an insta-credit place. It is now paid for in full but he was late one payment and now, years later this is on his credit report as adverse item. Is there any way to fix or remove this? How badly does this effect hisoverall credit score?
Hello Guys. For the past 7 – 9 months, I have been battling with my credit score because it was very low and I wanted to buy a home. Until I met this hacker through a friend of mine. He removed all the negative items on my FICO report and increased my credit score from 461 to 785. I was really surprised that he helped me do it within 1 week, even though I doubted him at first. He got my report information and in 2 weeks my TU, EQ, EX, AND FICO was fixed. He is genuine and reliable.
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my score was in the mid-400’s. I had 4 late payments, which hurt me dearly, but the lenders actually looked at my report and refused me a loan, so I emailed:CONFIDENTIALCREDIT2424@GMAIL.COM, he removed all late payments, and raised my credit score up to 785 in 2 weeks. I am indeed pleased.
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charged off means that that the creditor has written off this debt as a loss.
listing it more than once could be from the original creditor and a collection agency or that the account was sold to more than one collection agency.
hello and welcome, When a debt is written off and sold to a collection agency you can more than likely expect calls from the collection agency to start shortly after. Do you know how old this debt is? We should check to see if you are protected by your states statutes of limitation. This is different in each state. If you are not protected you may want to try and settle the debt so you do not end up in court or have harassing phone calls.
charge off
Hi Bluepoodle,
When you owe a debt to a creditor and the creditor is unable to collect the dues from you, he writes off that debt as his loss, and sells it to a collection agency. The collection agency then tries to collect the dues from you. When an account is thus handed over to a collection agency, it is reported as a charged off account on the credit report.
To remove this charge off, you can contact the collection agency(CA) and tell them that you wish to pay the dues, request them to agree to a pay-for-delete agreement. With this the CA will request the credit bureaus to delete the negative listing from your credit report. As a result, your report will show the debt as "paid in full" or "paid as settled" depending on how you want to pay the dues.
If you pay the full due amount, it will show as "paid in full", else if you settle for a less amount it will show "paid as settled".
Hope this helps you.
Regards,
Aaron
to be clear
chargeoff= creditor tax write off
multiple listing= Original Creditor, Collection Agency
Another thing about when they write off a debt is the government can come back at anytime and tax you on the written off aount. It would be considered an income. It does not always happen but it can so be aware of that fact.Good luck.
Charge off
A company suide us we negotiated a settlement and paid it off, but they show the account as a charge off, was on a repo. car. How can i get it iff my credit report?
reply
Hello Don,
I believe you and hicksdon are the same person? Your query have been answered to in
http://www.creditmagic.org/collection/settle-doublechargeoff.html
Regards,
Aaron
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Hi,
My husband bought a car through an insta-credit place. It is now paid for in full but he was late one payment and now, years later this is on his credit report as adverse item. Is there any way to fix or remove this? How badly does this effect hisoverall credit score?
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Hello Guys. For the past 7 – 9 months, I have been battling with my credit score because it was very low and I wanted to buy a home. Until I met this hacker through a friend of mine. He removed all the negative items on my FICO report and increased my credit score from 461 to 785. I was really surprised that he helped me do it within 1 week, even though I doubted him at first. He got my report information and in 2 weeks my TU, EQ, EX, AND FICO was fixed. He is genuine and reliable.
Contact: PROHACK NETWORK
Email: PROHACK.NET@AOL.COM
Text / Call him on +1(252) 307-3167
i recommend confidential credit solutions, for credit repair
I really appreciate CONFIDENTIAL CREDIT SOLUTIONS for removing all the negative items on my report.
When I was applying for loans for my most recent investment property (my third property including my home),
my score was in the mid-400’s. I had 4 late payments, which hurt me dearly, but the lenders actually looked at my report and refused me a loan, so I emailed:CONFIDENTIALCREDIT2424@GMAIL.COM, he removed all late payments, and raised my credit score up to 785 in 2 weeks. I am indeed pleased.
You can call or text him via +1(289) 277-0463