@Anonymous wrote:I have 2 charged off credit cards that are with 2 different collection agencies. These agencies are reporting C for collection every month on my report. If i just pay them off to bring the balance to a 0 will they then show as cls(closed) vs C every month for collection? Also will my score possbily increase because its not being reported as collection anymore?
Welcome to the forums. Paying off the collections will indeed change their status from open to paid as agreed, closed (or settled if you dn't pay in full). However, that won't improve your score. You may not get dinged every month for having the collection reported, but it will still be on your report. You shuld attempt to do a PFD, or Pay For Delete, where you submit payment in full and they remove the collection from your credit report.
