When a debt is charged off

Charged off accounts typically mean that the original creditor has sold the account to a collection agency.

They can collect on a charge off account..But you STILL want to get the debt validated by the CA to make sure they are really the ones that are authorized to collect..

Thank you Jessi - now I know what charged off means.
One more question-why doesn't the credit b.make the reports easy to read and understand.

Because that would MAKE SENSE. lol

I get mine through truecredit which is run by Transunion..It's their 3 in 1 monitoring service...Their reports seem to be a bit more organized and easy to understand.

Another thing, I don't know how much stuff is ON your report, but if you're just starting off in the process of cleaning it up, I do know that it can be a mess. But it will shape up as your work on it.

Make sure that there is not more than 1 collection agency collection on any accounts..Only ONE can..

Make sure all of the accounts are really YOURS...I had a lot that weren't..dispute them.

good luck!

Usually a debt that is charged off gets close to or past the SOL period. Be aware of the laws in your state because in case you make a partial payment on a debt whose SOL is already expired, the collectors will pursue legal actions in case you miss the payments. If you decide to pay, make sure you pay in full.