Collection version Charge Off

[CS800]

What's the difference in the impact that these two have on one's credit score?

Are they treated the same way?

Just found out that what I thought were collections are charge offs on my credit report. One paid and one still paying on.

[MarineVietVet]

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@CS800 wrote:

What's the difference in the impact that these two have on one's credit score?

Are they treated the same way?

Just found out that what I thought were collections are charge offs on my credit report. One paid and one still paying on.

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Basically, they're treated about the same, especially older COs and CAs.  But if I had to say which one weighs more negatively in the scoring if both are of the same vintage, it would be CO's, since TLs are impacted by more of the scoring factors than CAs.  However, I would also say that a new CA will probably hurt your score more than an old CO.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".