BOA Charge off Removal

[RonM21]

That is an intersting decision you have. I see what you're thinking as far as waiting. I just wonder if that could backfire.

[stfraw]

Interesting decision but I don't know what would be better...

[CJ7]

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@stfraw wrote:

...they called me back saying they don't remove Charge Offs and if I pay it my score will increase.

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It will still be marked as a chargeoff.  A *paid* chargeoff might make your record look bettter under

manual review but I don't believe your score will change even one point to the positive.  If the account

hasn't updated in some time, the updating of the account may make it appear fresh and hurt your score,

as well as moving the DOFD up to current-date.  Don't take my word on this but IMO what BofA told

you is baloney!  A good alternative is to ask for a PFD.  They get their money and your CO vanishes.

Consult some of the senior posters as to your best course of action.

[stfraw]

That's exactly what I'm afraid of. Even if paid the score won't go up and I'm stuck with charge off on my CR. The other problem is even that principal on Auto loan was paid in full they hold on to my title... I was thinking to send them another PFD letter and then I might try BBB course.

[Anonymous]

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@CJ7 wrote:

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@stfraw wrote:

...they called me back saying they don't remove Charge Offs and if I pay it my score will increase.

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It will still be marked as a chargeoff.  A *paid* chargeoff might make your record look bettter under

manual review but I don't believe your score will change even one point to the positive.  If the account

hasn't updated in some time, the updating of the account may make it appear fresh and hurt your score,

as well as moving the DOFD up to current-date.  Don't take my word on this but IMO what BofA told

you is baloney!  A good alternative is to ask for a PFD.  They get their money and your CO vanishes.

Consult some of the senior posters as to your best course of action.

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That is a myth. Paying it does NOT change the DoFD.

[Anonymous]

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@stfraw wrote:

Interesting decision but I don't know what would be better...

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Seeing as how they are holding your title hostage.... I would just pay it. They may or may not decide to sell it to a CA, but either way your title is in limbo....

[Anonymous]

what was the language you posted for them to remove the charge off?