Charged off accounts??
Date: Mon, 07/31/2006 - 15:03
Just looking at my credit report and there are several charged off accounts. Would it be wise and beneficial to call some of the original creditors and try to pay them off? Or once they are charged off, is it over with.
They are a few with small balances that i could take of very quickly. And then go after the big ones.
Any advice is appreciated.
They are a few with small balances that i could take of very quickly. And then go after the big ones.
Any advice is appreciated.
Paying off the debt accounts will certainly be a wise decision.
Paying off the debt accounts will certainly be a wise decision. Your credit scores will go up after each account gets paid off. Because these debts are in the charged off status, you will like to make sure if they are within the SOL period of your state. If the statutes have expired, the companies cannot recover the amount from you by throwing legal actions. A single payment will restart the SOL period from the beginning. Make sure that you decide to pay off the debts in full if you are thinking ahead in this direction. Your credit scores will also rise after the credit companies will update with the bureaus.
