Does MISTY know what She's talking about in 1* and 2* below? lb59 --------------- =================== Author: Misty Date: 7/10/2002 9:09 pm CDT 1*The chargeoff can't be removed from the credit report until the proper timeframe has passed. The card company is required by the Fair Credit Reporting Act to report accurate information so they can't just remove the chargeoff because it's been paid. The only thing that should change is how it's being reported-it should go from showing as an unpaid chargeoff to a paid chargeoff. But the company did have to charge it off so that won't be removed 2*Some people say it's a waste of money to pay a chargeoff since the company has already taken a loss on the money anyway, I don't know how much difference it really makes on the credit report going from unpaid to paid; I'm sure it varies from lender to lender. ~~~~~~~~~~~~~~~~~~~~~~~~~
Author: Jeremy Date: 7/10/2002 10:16 pm CDT For more information on having the chargeoff removed visit this site www.creditnet.com and search the newsgroup database, basically that is all they talk about on that newsgroup-i.e. having chargeoff's removed etc, might be worth your time reading some of the posts.
