Paying off bad debts = hurting credit?
Date: Sat, 07/26/2008 - 16:15
So i have decided to start paying off bad debts from 2 years ago. I had 4 credit cards charged off and now I would like to get started paying them off.
I have heard that paying charge offs ca actually be detrimental to credit repair efforts. Why is this? Would late payments from 2 years ago have more of an impact if i started making payments?
I have heard that paying charge offs ca actually be detrimental to credit repair efforts. Why is this? Would late payments from 2 years ago have more of an impact if i started making payments?
Here is a thread that addresses your issues: http://www.debtc
Here is a thread that addresses your issues:
http://www.debtconsolidationcare.com/credit-repair/americanexpress-account.html
First off, pull your credit reports from all 3 CRA's @ www.annua
First off, pull your credit reports from all 3 CRA's @ www.annualcreditreport.com See how they are reporting and see if the OC still owns the debts. What state do you live in? That will help determine SOL for legal action. 2 years has reduced the impact of the CO's a little and paying now will show recent activity which will tank your scores. You still amy want to lay low if you are still w/in SOL because you may wake a sleeping giant. More details please
