A paid collection I can see, but a chargeoff? It seems to me that a chargeoff, by its very nature, wouldn't be a chargeoff if it were paid in full. Am I right or wrong on this? If I happen to be right, then shouldn't that give me some leverage against someone reporting a "paid chargeoff" against me? And yes, this account is paid in full. Any takers?
no. Its called a Paid CHargeoff. When the bank charges off the debt, then at a later date you pay. This happened to me. i was 19. and was threatend into paying my chargeoffs. of course you should make them agree to take off the Mark, before you pay. I was turned down for a Capital One secured card. I couldnt believe i was rejected.I gave them a call and was ready to CURSE and BITCH. HOwever when he said you were declined due to an unpaid chargeoff i felt guilty and hung up. LOL. They Sub-prime lenders are getting more strict now. It fells like you need good credit to just get accepted by them.
I'd love to agree with you here, as my 2 pd chgoffs have been a royal pain in my butt. First deleted then added back, then re-aged, then deleted then added back re-aged with a new date. But anyway, I think it ends up being a matter of history. First it gets charged off and thats it. It can never be un-charged off. Then they just accept payment after the chgoff and we get the shaft.
