Reply
Contributor
dujaidecor
Posts: 80
Registered: ‎06-12-2012
0

Charged off Credit Card w/balance question

I have a charged off credit card  and my TransUnion report shows its estimated time to be removed as 7/12

Should I wait until August to see if its been removed and then try to settle the debt once its removed? Or should I pay it now and still wait for it to drop off?


Starting Score: TU488 EQ483 6/4/12
Current Score: TU 662 EQ 670 EXP ??
Goal Score: 680

Take the FICO Fitness Challenge

Faith is the substance of things hoped for and the evidence of things not seen.

Valued Contributor
annielorie
Posts: 1,206
Registered: ‎02-19-2012
0

Re: Charged off Credit Card w/balance question

It is out of SOL. To pay if you owe is up to you> I wouldnt wait until August.  Call in 7 days to have removed. Why wait?


Starting Score: 0
Current Score: TR??FICOEQ ?? FICO
Goal Score: 760

Lowes7,000 Discover More 2800. Jcpenny 6,000
Chase freedom 800 Never take NO for an answer!!
Established Contributor
cashnocredit
Posts: 1,030
Registered: ‎07-18-2009
0

Re: Charged off Credit Card w/balance question

Whether you pay or not it won't affect when it drops off. Sounds like you are good to go shortly.

I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy15k, Amex Plat (60k H/B), Citi AA EWMC 25k
Mega Contributor
RobertEG
Posts: 18,444
Registered: ‎03-19-2007
0

Re: Charged off Credit Card w/balance question

Regardless of CR exclusion, there is still good reason to satisfy an old, unpaid debt.

CR exlcusion removes the normal access to the information by pull of your CR, but does not ensure that others wont be able to discover the unpaid debt.

Less likely with CR exclusion, but it is still out there and owed.


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}