how bad does it affect my credit for a charge-off account?
Date: Tue, 09/27/2011 - 10:26
I recently reviewed my credit report.on one account it shows: account charged off.$2516 written off.this account is scheduled to continue on records until Nov 2017.
Does this mean it doesn't make sense even I settle this debt with the collection agency bc it'll still show on my report. my other creditors are offering me lum sum to settle my accounts. I'm not working now. So will settling help with my credit or I should just wait until they lower ratio of balances as settlement. my credit accounts are one months away from being charged off. Already 150 days past due. thanks for answers.
Does this mean it doesn't make sense even I settle this debt with the collection agency bc it'll still show on my report. my other creditors are offering me lum sum to settle my accounts. I'm not working now. So will settling help with my credit or I should just wait until they lower ratio of balances as settlement. my credit accounts are one months away from being charged off. Already 150 days past due. thanks for answers.
Who is the creditor? That is usually the deciding factor. Some
Who is the creditor? That is usually the deciding factor. Some creditors actively sue so that would be an reason to pay. Citibank, Discover, Crap One....it is hard to avoid these guys. But there are other credits that just give up....so if you can fly under the radar until the SOL runs out....
