Credit Card Center Advertiser Disclosure

Posts: 11
Registered: ‎04-29-2011
0 Kudos

Charge offs possible to get deleted?

First post here.  These forums are a godsend.  I waned to know if it's possible to pay a charge off and then send a PFD?  Are charge offs unpayable?


Thanks everyone for the help!


Smiley Happy

Super Contributor
Posts: 6,677
Registered: ‎04-07-2008
0 Kudos

Re: Charge offs possible to get deleted?

[ Edited ]

If you still have an amount to pay on the charge off, you can negotiate a PFD; basically that means you negotiate with your creditor or CA whichever is reporting and tell them to get you something in writing that they are willing to delete the charge off from all you credit reports if you pay the amount in full.


If possible don't pay first but negotiate. But if they agree, get it in writing FIRST!!


But if they don't want to do it, and after you have exhausted your negotiation with them. Pay the balance and send them goodwill letters to remove the reporting. Again with GW, there is no guarantee that they will remove it.

Community Leader
Epic Contributor
Posts: 29,590
Registered: ‎03-19-2007
0 Kudos

Re: Charge offs possible to get deleted?

[ Edited ]

Charge-offs are their own distinct breed of reported OC derog.  They are not pegged to one date of delinquency on the consumer's part, but rather on the internal bookeeping actions of the creditor.  The prerequiste for any business charge off is the existence of a delinquent debt.  It is hard to dispute a charge-off if the account was, in fact, delinquent at the time the charge-off was done.   Creditors must hold the debt to be "uncollectible" in order to take advantage of the tax benefits afforded by the IRS, and thus shift the amount from an asset (account receivable) over to a liability (uncolletible debt).  But that is all internal within the operations of the OC and their accounting of tax liability with the IRS.  The charge-off is not actually the reporting itself to the CRA, but rather a reporting to the CRA of an action they have already taken.


A charge-off is thus not debt in and of itself.  The debt is the same as far as the consumer's liability to pay, and the creditor's ability to report the debt to your CR, regardless of whether the OC has done an internal charge-off.  .  You can pay the amount of the debt that was charged-off, but that does not "pay off " the holding of the CO itself.


The only way to substantively dispute the reporting of a CO is to show that the taking of the CO by the OC was improper in and of itself, and thus the reproting of a CO to the CRA was inaccurate..  A very difficult thing to do.  The only clear way to do that is to show that, at the time the OC did a charge-off of the debt, the debt was not delinquent.

Most attempts to remove a CO must thus rely on the good-will of the OC.  A PFD is basically an offer to pay the debt in exchange for their good-will deletion of the CO from your CR.  It is possible, but solely at the discretion of the OC.


Once the debt is paid, there is no longer any payment to offer, so a PFD offer would not be apprropriate.

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.