Rebuilding Your Credit

[change2009]

HELP I SENT A PFD ON A CHARGE OFF TO SCANA ENERGY REGULATED AND THIS IS WHAT THE LETTER I RECEIVED STATED " Unfortunately Scana Energy Regulated does not accept settlement offers for gas utility charges.  Once Scana Energy receives payment in full of the outstanding balance, your credit file will be updated as paid-in-full."  Im not sure if i should pay this because i dont want this to be listed as a paid charge off but paid in full.  any advice would be greatly appreciated.  also, if they do list it as paid charge off can i get it changed by sending the letter to the cra's stating that it woudl say paid in full?

[moondog7324]

Is it within your states SOL? If this is fairly aged-at this point a paid charge off is going to cause more FICO damage, because it's going to show recent activity. You may have woken a 'sleeping giant' so to speak- they may turn it over to a collection agency of decide to file suit. It's up to you- do you feel a moral obligation to pay your debts? Sometimes you think your doing all the right things and it turns around to bite you- That happend to me when I disputed an old Crap! charge off... The thing now updates everymonth as charge off - while before I disputed it was showing OK for the past 3 years.

As far as sending a letter to the CRAs- they are going to report what SCANA tells them to. 

Message Edited by moondog7324 on 04-01-2009 03:09 PM

[change2009]

This account charged off in jan of 2007. i am just trying to clean up my credit so that i can buy a house.  since the first major del was in jan it will be seven years before it falls off.

[sidewinder]

Did you offer pay in full or a settlement amount?

What was the last reported/updated date?

While paying may not increase your score, paid vs unpaid looks much better to a future lender. Especially if you can explain why it went delinquent and explain that once you could you PIF.

[change2009]

i offered to pay it in full. and it is being reported as of feb of 2009.

[o1977]

I had something on my credit report for Scana for like $800 - one day it said charge off with a $0 balance.  I emailed the customer service to see if I could get it removed since it would fall off in 2 or 3 years anyway.  So I looked up an actual address and sent a GW letter to the head of the company.   A week or two later I got a letter saying they would remove it.