Question about how things are reporting on CR

moneystinks · ‎11-04-2014

On my TU CR I have several accounts that were closed or charged off - however under the Account Status it states: Current Paid or Paying as agreed and Account Paid in Full was a charge-off.

While I know having a CHarge Off is not good, having it stated that it is paid in full - was a charge off is a good thing right if a lender were to look at it?
Thanks,

Andrea

MarineVietVet · ‎11-04-2014

@moneystinks wrote:
On my TU CR I have several accounts that were closed or charged off - however under the Account Status it states: Current Paid or Paying as agreed and Account Paid in Full was a charge-off.

While I know having a CHarge Off is not good, having it stated that it is paid in full - was a charge off is a good thing right if a lender were to look at it?
Thanks,
Andrea

Each lender will have their own criteria for this but IMO it always looks better when a lender sees that the applicant was willing to pay their debts.

RobertEG · ‎11-04-2014

Posting of a charge-off to your credit report is effectively the recoriding of the opinion of a creditor that you are not going to pay a delinquent debt with thm.

While payment of the debt does not require them to remove that prior opinion, it clearly demonstrates that you do, in fact, meet your debt obligations.

A HUGE plus in countering the implication/affect of a prior CO.