Can you recover from having charge offs on your credit report. We have 1 that is paid, and one being paid on. Is our credit ruined for the entire 7 years, or can we recover sooner from that. Is just filling BK a better chioce? Thank you, Michele
Can you be more specific about your situation? How old is the paid charge-off? How much is the un-paid charge off for? Are they actively attempting to collect on you for the un-paid charge-off? Are these the only derogs you have on your report(s)?
I just paid the one off in Feb of 2002, the other one is still with the org. creditor, and we are making payments to them. There are alot of late payments on our credit report. We ran in to some money problems. We are now current with everything, and are trying to fix our credit.
Negative information, whether paid c/o or unpaid c/o, will stay on for 7 years from date of delinquency. After it gets paid you really have little leverage to get the item removed. But as time goes by, you may find the paid c/o can be deleted for a simple dispute. -Peace, Dave
1*Who was it with? 2*Who is this? 3*Do not pay it off with out getting deleation in writing? 3*Cont.If you pay on this for say 7 years this black mark will actually be on your reports for 14 years .
