Paying off resets?

[Anonymous]

Just wondering. If I have a cc that's been charged off with a balance of zero and getting deleted in 2015, what would happen if I paid a settlement to the ca of this account.
I know that the OC would then report "paid settled". Would this reset the date it's suppose to come off my report?

[Student_Loans_Kill]

7 years from the date of delinquency. So what I am finding out is they mess this up and report from date of collection which you have to dispute

[llecs]

DOFD is DOFD. Nothing can change that and it'll still fall off at the 7-7.5 years mentioned. BTW, the OC would not update to settled. In their eyes, it is a paid CO. The CA might report as settled, but that's not something you'd want anyway.

[Anonymous]

Almost everything is going to fall off in 2015. I haven't had too much luck with getting pfd.

[Anonymous]

I don't want them to report settled but they won't bite with pfd. So I might as well pay them the least possible and try to rebuild my credit while I wait for the three years to expire.

[SuzyStellar]

I am in no way an expert, but if you start paying on it wouldn't that reset the whole thing?  Like if you just let it sit 3 years, but if you make payments and God forbid miss a payment won't they just start all over again?...restart 7.5 years?  Someone please correct me if I am mistaken.

[pizzadude]

---

@SuzyStellar wrote:

I am in no way an expert, but if you start paying on it wouldn't that reset the whole thing?  Like if you just let it sit 3 years, but if you make payments and God forbid miss a payment won't they just start all over again?...restart 7.5 years?  Someone please correct me if I am mistaken.

---

That is not correct.  Once an account is charged off, the DOFD for credit reporting and SOL is set.   It can't be changed.

[Anonymous]

What about the ca? If I settle with the ca would it then 7.5 years start from then or does it hold from the OC?

[pizzadude]

The CA reporting is all based off the DOFD of the original account. There is no new reporting period regardless of who is paid.

[E16]

So what can be used to verify the DOFD?  I'm in the same boat.  I just paid off an account that charged off in 05ish.  I called the lady from the CA and she said it'll be reported until 2018.  I didnt think anything of it at first but after thinking about it, that means they reset my date.