Best case scenario

[Anonymous]

If not able to PFD or GW.. What continued effect will a charged off account continue to have (CO in so fairly new) if settled/PIF?

Thanks in advance!

[gdale6]

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@Anonymous wrote:
If not able to PFD or GW.. What continued effect will a charged off account continue to have (CO in so fairly new) if settled/PIF?

Thanks in advance!

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When it updates to paid it looks new in the eyes of Fico so it drops your score if it hasnt updated in awhile. If its been going month to month already with updates there is no loss of Fico points as its already occured. Once it stops the updating and begins to age then your Fico can begin to recover over time. A CO will affect your Fico the entire time its on file.

[Anonymous]

It's still reporting, last update 6/2015. Does it lessen impact if PIF or settled?

Thanks!

[Anonymous]

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@Anonymous wrote:
It's still reporting, last update 6/2015. Does it lessen impact if PIF or settled?

Thanks!

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When paid, it will stop updating and FICO will begin to reduce its impact on scoring according to its age.

[Anonymous]

I guess sometimes our inly tool is time.

Thanks