paid charge off
Date: Sat, 06/19/2010 - 02:28
what does a notation paid charge off mean
green, charge-off is when the account is handed over to a collec
green, charge-off is when the account is handed over to a collection agency. Tis is generally done after 120-180 days of delinquency on that account. This gets listed on your credit report. Now, when you pay off this debt, the account status gets reported as "paid charge-off". This is going to improve your credit. That is, a lender may consider this much positive than the unpaid charge-off on your report. However, "paid charge-off" does not make a big difference to your credit score.
Thus, if you have recently made payments on any of your charged off accounts, the notation "paid charge-off" may appear on your credit report.
