How can I get a charge-off removed from my credit report?
luvpudin asked:
If I pay something off with a collector, how can I get the collection and the original charge off from the credit card company off of my credit report? If I can’t get them off, what is the sense in paying off the collection?
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If I pay something off with a collector, how can I get the collection and the original charge off from the credit card company off of my credit report? If I can’t get them off, what is the sense in paying off the collection?
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March 1st, 2009 at 9:16 am
Credit Report
File a complaint.
March 2nd, 2009 at 7:27 am
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nothing… the negative charge will be on ur record for at least 6 years… then it will automatically be removed….
March 3rd, 2009 at 4:55 am
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nothing gets removed until 7 yrs after last transaction date.
You pay off these things so companies don;t look at you as a deadbeat who doesn’t pay his bills and because you got a benefit from the transaction (goods or services), you have to pay for that benefit. NOT paying it will continue to hurt your credit record for that 7 year period - car loans, mortgages, etc will be harder and more expensive to get
March 3rd, 2009 at 7:50 pm
Create a video blog…instantly.
Credit reports are credit history. The charge off is part of your history.
The point of paying off something you owe is so you won’t be a thief, which you are until it’s paid.
If your credit report is viewed, it looks a lot better to a lender that it’s paid off versus being avoided by you.
March 5th, 2009 at 8:19 pm
Create a video blog…instantly.
You can’t remove the charge off from the report.. If the debt is recent, then you should pay it off. It will stay on your report till 7 years of the last payment you made to that debt. Example: If you pay the debt off in 12/07, it will stay there till 12/2014. It will say on your credit report as “PAID COLLECTION”. In a way, when you apply for credit, lenders will see that you are trying to pay off your debt. If the debt is over 5 years old, then you should of waited for the 7 year rule and let it drop from your report. And if it is an old debt, there might be a possibly that it negatively affect your score temporary when you try to pay it off…