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erb1953
Joined: 31 Dec 2007
erb1953's page
Posts: 621
-55 Magic Points
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Wed Jul 16, 2008 2:08 am
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| You have to be patient, it takes a while to get them off your report, then it will happen. |
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scott
Joined: 28 Jun 2006
scott's page
Posts: 462
10934 Magic Points
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Wed Jul 16, 2008 10:49 am
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Yes, charge off listing is not good for the credit score. Once charge off gets listed in your credit report it stays there for seven years plus 180 days from the date it is reported in the CRAs. Moreover, charge off can lower your credit score by as much as 100 points. So one should always avoid charge offs by coming to a repayment agreement with the creditor.
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SCOTT
Use your credit account responsibly and enjoy a debt free life. |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 4007
1224 Magic Points
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Wed Jul 16, 2008 1:46 pm
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Wow, that is a lot, I had no idea that it lowered your score that much, that is a lot. Now how does it affect your score if you had the charge off, but have charged them off?
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Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online |
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scott
Joined: 28 Jun 2006
scott's page
Posts: 462
10934 Magic Points
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Thu Jul 17, 2008 7:05 am
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Hi goodnatured
Even if you pay off the charge off, the sad part of the thing is that it will hardly improve your FICO score. However, it is always advisable to pay off a charge off account because it gives a better look to your credit report, mostly when your future creditor is going through your credit history.
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SCOTT
Use your credit account responsibly and enjoy a debt free life. |
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lombardifamily09
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Subject: delete charge off
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Thu Aug 28, 2008 3:50 pm
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| You CAN delete a charge off from your credit report. I have done it MANY times. I have had 35 negatives on my credit report. 18 of which were charge offs. I wrote dispute letters over and over and over again and kept sending them to all 3 credit reporting agencies... then I kept requesting ALL original documents as required by law they have to give them to you to prove to YOU not you prove to them !! YOU ARE IN CHARGE if you want to be.. grow some balls and dispute EVERYTHING over and over again... PS send ALL documents with a return when received card !! that way they know you are serious... i went from 35 negatives down to 3 negatives...... be persistant !! |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4500
8812 Magic Points
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Fri Aug 29, 2008 12:49 am
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| Good job Lom. Hopefully maybe GN will stop back and she can read this post and get some of hers off. She has been working on her credit for a while and doing a awesome job. |
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josie
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Subject: sol
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Mon Feb 15, 2010 5:22 pm
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| If I have a charge off and now being sued what is the statue of limitations |
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Aaron
Joined: 08 Feb 2010
Aaron's page
Posts: 446
8407 Magic Points
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Subject: charge off and statute of limitations
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Tue Feb 16, 2010 7:47 am
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Hi Josie,
It would have been much more easier, to answer your query if you had been clear on the can kind of debt you have and the state where you live. Statute of limitations (SOL) depends both on the state and the type of account. It is different for oral contract, written contract, promissory note and open ended account.
SOL in regard to debt, is the time limit within which, the creditor can sue you for not paying the debt. However time limit for a charged off account to fall off your credit report is 7 years.
You can check out the SOL of your state for more details.
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?laura?
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Subject: listed as paid
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Thu Mar 11, 2010 9:28 pm
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| my husband has 8 medical accounts that were turned to collections. all were paid in full. his report just says paid. is this good or bad? should i try to have them changed to paid in full? |
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