Cc charge off and collections

[Anonymous]

i have some cc charge off's past sol showing on my report along with the collection agency's who bought the account. I am new to this. All accounts are 4 years old. Paying them is not possible at this time. My question can both still show on my reports? My scores are 677 and 681. I don't want to make my scores worse. Any advice would be great.

[RobertEG]

Yes.

They are separate types of derogs, reflecting different actions taken on a deliquent debt.

A charge-off is an accountng measure taken to remove the debt as a receivable asset, reducing the debt owner's tax obligation.

A collection is he reportnng by another of either their assigned authority to assist in collection of a debt, or their purchse of a delinquent debt incurred with another.

They can both appear simultaneously on the same credit report.