Ok! dont pay chargeoff what do I do
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  1. #1
    Join Date
    Jul 2003

    Ok! dont pay chargeoff what do I do

    Ok! I have read a few post and everyone says don't pay the chargeoff account. My account are about $2500 and my scores are 566,519,541.

    I have the funds but the chargeoff accounts I think can be verified.. I have a home already but I really would like to rebuild and get a lower interest rate..

    If I pay them off it will be what 2 years or more before my scores go up. I have no current debt other than a mortgage payment.

    Should I apply for a secured visa card or something and with who? to rebuild credit with the current chargeoff accounts.

    One reports says 16 bad accounts all except 2 are paid collection or paid charge off which will be on my report for about 5-6 years.

    I have 6 account in good standing with a bank. That I would like to re-fi with I know they are going to make my pay off the two accounts.

    My credit suffered while I was trying to defend myself from the DA during a custody battle. They attack me like crazy (garnisment) for false arrears that were later dismissed by the judge.

    I have my kid with my now but with bad credit...

  2. #2
    Join Date
    Jun 2002

    Ok! dont pay chargeoff what do I do

    The reason everyone says not to pay charge offs is because most OC's won't report the account as positive.

    If you are going to pay one off make sure it is deleted or shown as a positive.

    If you have as many negs as you stated paying off 2 won't matter.


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