how old...

Discussion in 'Credit Talk' started by dnsatt, Oct 14, 2001.

  1. dnsatt

    dnsatt Active Member

    do paid charge off accts have to be before they no longer hurt you? are they treated in effect like discharged bk?

    I have three that were c/o'd in 97/98 and paid this year. of course the cra's are not reporting the c/o's as paid. Even if they did I dont think from what i've read here its going to make a big difference if they did...
  2. sam

    sam Well-Known Member

    a chargeoff is a chargeoff is a chargeoff.

    I've got huge dent in my equifax score (650) because i have a paid charge off from 96'

    I'd bet i gain 30-50 points when that finally drops off.
  3. roni

    roni Well-Known Member

    If you apply for a mortgage, they will require any chargeoffs to be paid. Otherwise, there is no benefit of paying them.... You think there would be right?? :(
  4. KHM

    KHM Well-Known Member

    Dispute it as being paid, a paid charge off is SLIGHTLY better than one that isn't paid. I think its on there 7 years from the first, delinquent payment plus 180 days. So if you defaulted in 1/2000 then it would be 7 years from 7/2000 (7/2007)
    Hope that makes sense.\
  5. dnsatt

    dnsatt Active Member

    it doesnt pay to pay them off. How fair is that! Same punishment whether you pay or not. I should have come to this board before I paid them off and negotiated removal....oh well you live and learn.

    I am in the process on disputing them now...we'll see how that goes

    Yours in search of better credit

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