Wells Fargo and charge offs
I have a question, I am trying to clean up my credit for the purchase of my first home. Well, I had an joint account with my sister with Wells Fargo, it has since been charged off. I want to know if I can offer a pay for deletion, or can I reverse a charge off maybe? If I pay it off, will it improve my score, at all? The amount due is $621. The amount I borrowed was $1,000, of which I've paid at least $800, if not more.
What would help me the most, I guess is my question. The other charge off is with HSBC which I opened in 2006.
Any help would be great with this.
A charge-off is an internal bookkeeping measure taken by the cre
A charge-off is an internal bookkeeping measure taken by the creditor.
Unlikely they would "reverse" the charge-off, particularly if they have reported the debt as uncollectible to the IRS and thus taken the tax benefit of shifting the debt from a receivable asset to a non-receivable bad debt. However, they can always agree to delete their reporting of it to the CRA, which is all the consumer is really concerned about.
How they handle their internal bookkeeping is really of no concern.
Do they still own the debt? If so, they may entertain a PFD request.
I'm not sure if they still own it or not, I noticed that it is c
I'm not sure if they still own it or not, I noticed that it is charge off status, I haven't gotten a bill from anyone else, including them, in the last couple of months.
I guess I can call and find out?