Charge Off/Collections

[Makingstrides]

I had a credit card that was opened on December 2011 that's reporting as Closed and Charge Off/Collections. It has 7 missed payments on it. Do you think that it would be in my best interest to ask for a pay to delete? Not sure if it would hurt my credit history since it is already being reported as closed. Or should I just pay the balance? Thanks in advance.

[RobertEG]

If the credtior still owns the debt, then in additon to the reporting of the charge-off, the unpaid balance is likely continuing to be included in your % util, and thus also affeting the scoring in that category. 

Did they cease the updated reporting of derogs or the CO after first reporitng the charge-off, or do they update monthly?

When it refers to Charge off/Collections, that does not mean that you yet have a reported collection. 

Has a debt collector also reported, and does the OC still own the debt?

[Makingstrides]

They original creditor has sold the account to a collections agency (Financial Recovery Services). From what I can see on my credit report, it's no longer a factor for my credit utilization. The weird thing is that I don't see the account under the "Collections" category. Does that mean that the collections agency isn't reporting? Kind of confused. Thanks for your reply RobertEG.

Also, I've done a little research on Vantage 3.0. Apparently if I pay the account in full then it will not drop my credit score?