Charged-off Account

[Anonymous]

Hi everyone,

Since 2008 i was rebuilding my credit, as for today i just have one charged-0ff account from AT&T and is the only one afecting my credit.The account is in a collection company that are offering me a 60% discount, so from $1,200 that are the initial charges from AT&T now i was offered to pay $471 dollars.

My question is, do I should pay this amount to get removed, or just wait for my rebuilding credit company to remove it? Since the account almost reach the 7 years on my credit report.

I don’t plan to have a cellular with AT&T anymore.

[gdale6]

For myself if its within 6 months of being removed for CRTP I would just let it age off, if the CA is willing to give you a PFD and you need it off for some other reason then I would go ahead and take care of it. The max reporting period is 7.5 years from the original DoFD.

[RobertEG]

Paying will result in discharge of the debt.  Credit report exclusion will resutl in removal of the CO and collection from your scoring, but wont discharge the debt.

The primary issue seems to be whether you want to get the debt discharged, thus avoiding any future impact on obtaining new credit.

It could still be a factor in grant of any new credit if the creditor is aware of the delinquent debt from other sources, such as asking for discloure as part of the application process.

Paying now by way of a PFD would only be offered to one or the other, and thus not result in deletion of both the CO and the collection.

You may be able to secure discharge at an even lower amount once CR exclusion occurs.