lates on charge offs

[Anonymous]

Hi all, if I pay off a charged off personal loan, will the lates that go with it get removed as well or do they stay on the CR?

[yfan]

They will stay. It will simply report as a paid charge off rather than a CO with a balance. This, I hate to tell you, won't help your credit much, if at all. If it has already been charged off, ask your lender to take it off your CRs in exchange for full deletion. If they won't, I wouldn't pay at this point.

[Anonymous]

Thanks for the info!  Do small personal loan companies offer PFD?  And is that the route you suggest?

[Anonymous]

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@Anonymous wrote:

Thanks for the info!  Do small personal loan companies offer PFD?  And is that the route you suggest?

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You'll never really know until you try. What company is it? Maybe someone here has dealt with them before. I would send a PFD letter and see what their response is.  

[Anonymous]

Sun Loan company in Texas is the creditor.