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New Member
gwill
Posts: 1
Registered: ‎04-07-2011

Charge off credit card less than 30 days

I had a credit card charged off on Aug 25. I can pay the balance but will it help or hurt my credit? What's the chance of getting the CO removed?
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Shogun
Posts: 12,884
Registered: ‎04-15-2011

Re: Charge off credit card less than 30 days


gwill wrote:
I had a credit card charged off on Aug 25. I can pay the balance but will it help or hurt my credit? What's the chance of getting the CO removed?

It will get rid of the debt if you paid it, it would also look better on a manual review.  Once paid, you could try to GW it.


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JamesKnox
Posts: 228
Registered: ‎08-29-2013

Re: Charge off credit card less than 30 days

Well certainly paying it will look better than not paying it. AT LEAST the balance will be reflected as 0. 

Because it's so recently charged off, I would contact the creditor or the collection agency and just explain that you let the account get away from you by mistake and that you are really looking to clear it up NOW to save everyone some time. With that said, ask them because the CO is so new, could they possibly just remove it from your credit due to payment in full.

 

Regardless to what they say though...paying the CO off as compared to not paying it off will not hurt your score in anyway. The charge off will still be there at the very minimum. 


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Established Member
creditdrsuesse
Posts: 40
Registered: ‎08-26-2013

Re: Charge off credit card less than 30 days

but would it reage it if it was 2-3 years old? or what if it was sold to CA and you still want to pay it? i had a CO with paypal and got the CA removed. i just wouldnt want to reage the OC

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guiness56
Posts: 22,408
Registered: ‎01-17-2008

Re: Charge off credit card less than 30 days

Paying a CO will more than likely help if it is factored into your utilization.

Established Member
creditdrsuesse
Posts: 40
Registered: ‎08-26-2013

Re: Charge off credit card less than 30 days

its $14 CO lol 

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Shogun
Posts: 12,884
Registered: ‎04-15-2011

Re: Charge off credit card less than 30 days


creditdrsuesse wrote:

but would it reage it if it was 2-3 years old? or what if it was sold to CA and you still want to pay it? i had a CO with paypal and got the CA removed. i just wouldnt want to reage the OC


Paying it would not reage it.


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Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008

Re: Charge off credit card less than 30 days

Established Member
creditdrsuesse
Posts: 40
Registered: ‎08-26-2013

Re: Charge off credit card less than 30 days

I disputed it with the big 3 but am hearing now not to dispute bc it takes away other options down the road...is this true? if so, I wish when i posted about if i should dispute.im upset noone chimed in to give me the advice..too late now. of course my score dropped from the dispute even though the account is closed and charged off...hopefully since i emailed the executive escalations dept and they havent been able to access the info for 3 weeks now that it means they dont have it since paypaals credit arm was changed the month all this happened.  they are having trouble getting the acct info from GE.  PP told me i could contact ge directly but if the executive team cant get it from pp why would i try to get GE to do it myself...

 

my bet was they didnt have the idocumentation and it  was lost in the transfer since the acct was sold to CA agencies maybe?  since it took them 3 weeks I figured id dispute with big 3 and they wouldnt respond to them in the 30 days and it would be deleted..

 

Do i have any recourse if it comes back verified?  what other options do i have? i noticed BBB complaints get handled fast and closed in customers advantage 70% of the time.. surely they would let $15 dollars go as to not casue BBB score or complaints to remain.  long story short i was  signed up for a ge acct without my consent and then had 2 credit accts.  the $15 balance was on the original account and my new acct which i had no idea was seperate showed 0 balance..therefore the $15 went unaddressed fopr 4 years.   pp is very shady. please give advice on what to do now.. will my score go back up after investigation?

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ezdriver
Posts: 1,463
Registered: ‎08-24-2013

Re: Charge off credit card less than 30 days

"if so, I wish when i posted about if i should dispute.im upset noone chimed in to give me the advice..too late now."

 

Shame on us for not meeting your expectations. We are profoundly sorry.



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